Keras Resources PLC Calidus Resources Update (0039B)
June 04 2019 - 2:00AM
UK Regulatory
TIDMKRS
RNS Number : 0039B
Keras Resources PLC
04 June 2019
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
4 June 2019
Keras Resources plc ('Keras' or the 'Company')
Calidus Resources Update
Keras Resources plc, the AIM listed mineral resource company,
notes the announcement released by Calidus Resources Limited
(ASX:CAI) ('Calidus'), in which it currently holds a c.32.3%
interest, regarding an update at the Warrawoona Gold Project in the
Pilbara of Western Australia ('Warrawoona' or the 'Project').
Highlights
-- Outstanding first assays from the regional drilling programme at Warrawoona
-- Shallow, high-grade gold intersected across the Klondyke
Shear up to 5km west of the current 1.15Moz Klondyke JORC Resource
at Warrawoona
-- Significant 4m composite results include:
o 8m @ 8.06g/t Au from 56m in 19TRAC008
o 4m @ 8.87g/t Au from 48m in 19WWWB004
o 12m @ 2.37g/t Au from 52m in 19KLAC009
o 8m @ 1.85g/t Au from 48m in 19TRAC009
o 4m @ 3.54g/t Au from 60m in 19TRAC006
o 4m @ 2.35g/t Au from 44m in 19SGAC003
-- Results highlight scope for Resource increase - further assays pending
Russell Lamming, Chief Executive Officer of Keras, commented,
"Calidus is reaching a tipping point as it focuses on growing its
1.25 million-ounce JORC resource at Warrawoona, where a
Pre-feasibility Study is due for completion in July. Encouragingly,
this first-pass regional drilling programme has identified shallow
mineralisation up to 5km west from the Klondyke resource on the
same geological structure, highlighting the potential for further
near-surface gold mineralisation close to the proposed mine
development. We look forward to receiving further positive updates
in the near future."
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, an additional 265 million performance shares
of Calidus ('Performance Shares') owned by Keras will be converted
into ordinary shares.
The information in this RNS has been extracted from the ASX
announcement made by Calidus Resources Limited on [04 June] 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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