Keras Resources PLC Calidus Update (8330V)
April 11 2019 - 2:01AM
UK Regulatory
TIDMKRS
RNS Number : 8330V
Keras Resources PLC
11 April 2019
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
11 April 2019
Keras Resources plc ('Keras' or the 'Company')
Calidus Confirms Wide Outcropping Gold Mineralisation in the
Centre of 1.25Moz Au Resource
Keras Resources plc, the AIM listed mineral resource company,
notes the news released by Calidus Resources Limited (ASX:CAI)
('Calidus') announcing the confirmation of extensive outcropping
gold mineralisation at the Klondyke Shear Prospect ('Klondyke') in
the centre of Calidus' 1.25 million ounce JORC compliant gold
resource at its Warrawoona Gold Project ('Warrawoona' or the
'Project') in the Pilbara of Western Australia.
Keras currently holds 458 million shares in Calidus,
representing approximately 32.3% of the current issued share
capital of Calidus. On successful completion of Calidus'
Pre-Feasibility Study ('PFS'), an additional 265m performance
shares of Calidus ('Performance Shares') owned by Keras will be
converted into ordinary shares.
Highlights
-- Re-processing of historic Conzinc Riotinto of Australia
('CRA') datasets across the Klondyke resource area at Warrawoona
demonstrates the presence of wide and consistent gold
mineralisation at surface. The costean results include:
o 25m @ 1.76 g/t Au incl 1m @ 9.77g/t Au
o 32m@ 1.15g/t Au
o 12m@ 2.24 g/t Au
o 15m @ 1.37g/t Au
o 16m @ 1.19 g/t Au
o 13m @ 1.29 g/t Au
o 8m @ 1.48g/t Au
-- Selective channel and rock chip sampling following this
programme produced high-grade assays including:
o 130 g/t Au
o 64 g/t Au
o 44 g/t Au
o 41 g/t Au
o 10 g/t Au
o 9.2 g/t Au
-- Regional Air Core ('AC') drilling programme continues at
Warrawoona to test greenfields anomalies;
-- Induced Polarisation ('IP'), geophysics consultants have
commenced work onsite for refining drill locations along the
remaining 7km strike length of the outcropping Klondyke Shear
package that remains untested by Calidus;
-- PFS remains on schedule to be delivered by the end of Q3 2019
Russell Lamming, Chief Executive Officer of Keras, commented,
"The confirmation of wide outcropping gold mineralisation at the
Klondyke Shear Prospect in the heart of Calidus' Warrawoona Project
is extremely positive and serves to strengthen the substantial
economic upside of this already highly prospective asset. With
Calidus' aggressive development timeline rapidly progressing to
Pre-Feasibility Study we are looking forward to more positive news
to further consolidate the Project's significant value and grow the
1.25Moz Au Resource at Warrawoona."
The information in this RNS has been extracted from the ASX
announcement made by Calidus Resources Limited on 11 April 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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