Keras Resources PLC Calidus Update (5141T)
March 21 2019 - 2:01AM
UK Regulatory
TIDMKRS
RNS Number : 5141T
Keras Resources PLC
21 March 2019
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
21 March 2019
Keras Resources plc ('Keras' or the 'Company')
Calidus Update
Keras Resources plc, the AIM listed mineral resource company,
notes the news released by Calidus Resources Limited (ASX:CAI)
('Calidus') announcing the commencement of drilling at the
Warrawoona Gold Project in West Australia to test several large
targets and expand the current 1.25-million-ounce ('Moz') JORC
compliant Resource.
Keras currently has 458m shares in Calidus, representing
approximately 32.3% of the current issued share capital of Calidus.
On successful completion of the PFS, an additional 265m performance
shares of Calidus ('Performance Shares') owned by Keras will be
converted into ordinary shares of Calidus.
Highlights
-- Regional drilling programme commenced this week and will
initially focus on three targets identified at Liberator, Cutty
Sark and Trump
-- Results from 3,059 infill and extensional soil geochemistry
samples received validating a number of the extensive and coherent
gold-in-soil anomalies identified from historic exploration
data
-- Reconnaissance IP geophysical programme scheduled to commence in April 2019
-- Regional exploration will be conducted in parallel with the
ongoing pre-feasibility study work
Russell Lamming, Chief Executive Officer of Keras, commented,
"This is an exciting period for the Warrawoona Gold Project in
Western Australia as it continues to evolve and strengthen. Calidus
is hopeful that this latest drill programme, which is testing
several of the large, highly prospective anomalies identified in a
recently-completed soil sampling programme in the wider Warrawoona
region, will expand the current 1.25Moz JORC compliant resource.
While there has been little or no exploration here, Calidus'
experienced team believe that it is highly prospective for large
mineralised orogenic gold systems. In tandem, the pre-feasibility
study is well advanced and rapidly progressing.
"On a wider level, we look forward to providing updates on our
Nayega Manganese Project in northern Togo, where we recently
completed a 10,000-tonne bulk sample fully funded by a major
producer of manganese-based alloys. This was to prove up the
internal feasibility study previously conducted ahead of commencing
commercial production in the near term once relevant approval is
granted."
The information in this RNS has been extracted from the ASX
announcement made by Calidus Resources Limited on 21 March 2019. 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:
Russell Lamming Keras Resources plc info@kerasplc.com
Nominated Adviser / Joint
Broker
Ewan Leggat / Charlie SP Angel Corporate Finance +44 (0) 20 3470
Bouverat LLP 0470
Financial PR
Isabel de Salis / 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 portfolio of development assets, including manganese, cobalt and
nickel in Togo, West Africa. It also has a significant interest in
Calidus Resources Limited ('Calidus'), a highly prospective gold
exploration and development company in Australia, which is
currently undertaking a Pre-Feasibility Study at its Warrawoona
gold project. Keras benefits from a highly skilled management team,
which has extensive operational experience in Africa and Australia
and 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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