Keras Resources PLC Calidus Resources Announces Drilling Results (7594G)
November 08 2018 - 2:12AM
UK Regulatory
TIDMKRS
RNS Number : 7594G
Keras Resources PLC
08 November 2018
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
8 November 2018
Keras Resources plc ('Keras' or the 'Company')
Calidus Resources Announces Further High-Grade Drilling Results
Across Warrawoona
Keras Resources plc, the AIM listed mineral resource company,
notes the announcement released by Calidus Resources Limited
(ASX:CAI) ('Calidus'), which returned significant high-grade
drilling results from the St George Shear and Klondyke East
prospects. These results highlight the ability to extend Calidus'
current Resource area at the Warrawoona Gold project in the Pilbara
in Western Australia. The results make up a larger resource infill
and extension programme which is aiming to develop Calidus' current
712,000oz resource and support the expected delivery of a
pre-feasibility study ('PFS') in 2019.
Keras currently has 458m shares in Calidus, representing
approximately 32.3% of the current issued share capital of Calidus.
On successful completion of the aforementioned PFS, an additional
265m performance shares of Calidus ('Performance Shares') owned by
Keras will be converted into ordinary shares of Calidus.
HIGHLIGHTS
Infill drilling for open-pit resources at the new high-grade
gold zone St George, 150m North of the Klondyke Main resource, has
returned significant intercepts including:
-- 6m @ 7.61g/t Au (incl 1m @ 40.64g/t Au) from 16m in 18SGRC031
-- 8m @ 5.64g/t Au (incl 1m @ 11.03g/t Au, 1m @ 13.05g/t Au
& 1m @ 10.95 g/t Au) from 44m in 18SGRC032
-- 14m @ 1.77g/t Au from 35m in 18SGRC047
-- 2m @ 10.23g/t Au (incl 1m @ 18.91 g/t Au) from 91m in 18SGRC050
Klondyke East in-fill drilling has returned the following
significant intercepts:
-- 2m @ 20.84g/t Au (incl 1m @ 40.51 g/t Au) from 88m in 18KLRC152
-- 6m @ 3.82g/t Au from 93m in 18KLRC148
-- 15m @ 0.97g/t Au from 97m in 18KLRC172
-- 2m @ 7.29g/t Au (incl 1m @ 12.75 g/t Au) from 66m in 18KLRC157
-- 1m @ 10.79g/t Au from 2m in 18KLRC158
Russell Lamming, Chief Executive Officer of Keras, commented,
"These high grade results from the St George Shear and Klondyke
East underpin the prospectivity of the wider Warrawoona Gold
Project and the strong potential for the current resource of
712,000oz to be materially increased in the near term. As 60% of
the area is yet to be reported on, we look forward to Calidus
delivering results of further drilling at the St George Shear
prospect as well as the results of an initial diamond drill
programme targeting resources beneath the potential open pit at
Klondyke."
The information in this RNS has been extracted from the ASX
announcement made by Calidus Resources Limited on 8 November 2018.
To view a full version of the Calidus announcement, which includes
figures and maps, please click here:
https://www.calidus.com.au/investors/asx-announcements/. For more
information on Calidus and Warrawoona, please visit
www.calidus.com.au.
For the purposes of MAR and Article 2 of Commission Implementing
Regulation (EU) 2016/1055, this announcement is being made on
behalf of Russell Lamming, Chief Executive Officer. 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:
Chief Executive Officer Keras Resources plc info@kerasplc.com
Russell Lamming
Nominated Adviser / Joint
Broker
Ewan Leggat / Charlie SP Angel Corporate Finance +44 (0) 20 3470
Bouverat LLP 0470
Financial PR
Susie Geliher / Cosima +44 (0) 20 7236
Akerman St Brides Partners Ltd 1177
Notes
Keras Resources plc is focused on building a strategic portfolio
of resource assets. The Company provides investors with exposure to
a strategic portfolio of development assets, including manganese,
cobalt and nickel in Togo, West Africa, and also has a significant
interest in a highly prospective gold exploration and development
portfolio in Australia.
Keras benefits from a highly skilled management team, which has
extensive operational experience in Africa and Australia with
proven success in advancing assets up the value curve.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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