Keras Resources PLC Initial Drilling Programme Commences at Klondyke (3323P)
November 17 2016 - 1:00AM
UK Regulatory
TIDMKRS
RNS Number : 3323P
Keras Resources PLC
17 November 2016
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
17 November 2016
Keras Resources plc ('Keras' or 'the Company')
Initial Drilling Programme Commences at Klondyke Gold
Project
Keras Resources plc, the Australian gold mining company, is
pleased to announce that it has commenced the initial drilling
campaign at its 100% owned, owner operated flagship Klondyke Gold
Project, located in the prospective Warrawoona Goldfield in the
East Pilbara District of the Pilbara Goldfield of Western
Australia.
Highlights:
-- Initial 600m Klondyke drill programme has commenced - results
to confirm targets for resource drill programme planned for early
2017 to extend current JORC compliant mineral resource estimate of
5.6Mt at 2.08g/t gold ('Au') for 374,000oz;
-- Detailed mapping of the greater Klondyke area continues -
visible gold in chip samples, extensive old workings and expansive
shear zones have been reported to date;
-- Significant upside potential - current resource confined to
just 2km of strike of the main 7.5km shear strike identified;
-- Right to mine contiguous Haoma tenements covering 650
hectares - excellent discovery potential highlighted by high-grade
drill results, including 3m at 17.58g/t Au from 20m, 4m at 59.48g/t
Au from 64m and 11m at 7.23g/t Au from 30m; and
-- Management continue to assess additional growth opportunities
in the project area to increase the Company's holding of land with
proven resource potential in the region.
Keras Managing Director Dave Reeves said,
"We are delighted to have commenced drilling within a month of
acquiring our 100% owned flagship Klondyke Gold Project in the
Pilbara Goldfield of Western Australia, underpinning our active
growth strategy. In addition to the ongoing detailed mapping and
reconnaissance exercise, this initial confirmatory drill programme
will help finalise plans for an expanded resource drilling
programme targeted to commence following the proposed ASX listing.
The expanded drilling campaign will focus on increasing the current
Inferred Resource of 5.6Mt at 2.08g/t Au for 374,000oz, which we
believe represents only a fraction of the total mineable ounces in
the project area. We look forward to updating shareholders as we
progress this highly prospective and extremely exciting
project."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
**ENDS**
For further information please visit www.kerasplc.com, follow us
on Twitter @kerasplc or contact the following:
Dave Reeves Keras Resources plc dave@kerasplc.com
Nominated Adviser
Gerry Beaney/David Hignell Northland Capital Partners Limited +44 (0) 20 3861 6625
Broker
Elliot Hance/Jonathon Belliss Beaufort Securities Limited +44 (0) 20 7382 8415
Financial PR
Susie Geliher/Charlotte Page St Brides Partners Limited +44 (0) 20 7236 1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
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