Keras Resources PLC Calidus announces high grade intercepts (9518X)
November 30 2017 - 2:01AM
UK Regulatory
TIDMKRS
RNS Number : 9518X
Keras Resources PLC
30 November 2017
Keras Resources plc / Index: AIM / Epic: KRS / Sector:
Mining
30 November 2017
Keras Resources plc ('Keras')
Calidus announces high grade intercepts
Keras Resources plc, the AIM listed mineral resource company, is
pleased to provide an update following an announcement published by
Calidus Resources Limited ('Calidus'). Calidus has announced
significant diamond drilling results from Klondyke, Copenhagen,
Coronation and Fieldings Gully that confirm the presence of
high-grade gold at all of Calidus' prospects located in the Pilbara
of Western Australia, with Calidus to commence an accelerated
drilling programme imminently. In addition, a tenement application
located contiguous to the current Novo Resources Corp (Novo) JV
tenements has been added to the JV arrangement.
HIGHLIGHTS
-- Visible gold observed during geological logging confirmed by
high-grade assays in all three core holes drilled at Klondyke;
-- Wide high-grade mineralisation confirmed in core drilling at
the Copenhagen, Coronation and Fieldings Gully satellite deposits,
all within 10km of Klondyke;
-- Significant intercepts include:
o Klondyke 17KLDD001: 25m @ 3.41g/t Au from 88m
o Copenhagen 17CPDD001: 6m @ 7.74g/t Au from 70m
17CPDD002: 4m @ 7.46g/t Au from 56m
o Coronation 17CRDD001: 10m @ 3.31g/t Au from 108m
o Fieldings Gully 17FGDD001: 10m @ 9.68g/t Au from 85m
-- Preparations for extensional drilling at Klondyke East,
Fieldings Gully and Copenhagen commenced, aim to complete by end of
year; and
-- Further tenement application with extensive soil anomaly added to the Novo JV.
Dave Reeves commented, "Calidus has successfully intersected
multiple high-grade gold intercepts at all of their satellite
deposits drilled to date, in addition to a wide high-grade zone in
the middle of the Klondyke resource. This ongoing regional
exploration in proximity to Klondyke continues to reveal
encouraging results which provide further support for the potential
for significant new discoveries and additional resource ounces at
Klondyke and within the existing tenement portfolio. In light of
these excellent results, Calidus has expanded the previously
announced Klondyke East drilling to target extensions of the
recently drilled Fieldings Gully and Copenhagen deposits with
drilling due to commence at the end of this week.
With drilling due to commence again imminently and the resource
upgrade on track for delivery this year, Calidus continues to
aggressively define this large, shear hosted gold project which
they believe will support a stand-alone gold development in the
future."
To view a full version of the Calidus announcement, which
includes figures and maps, please click here:
http://www.asx.com.au/asxpdf/20171130/pdf/43pr345nty57zr.pdf
Keras currently holds a 217.25m shares in Calidus, which will
increase to 723.75m shares as and when Calidus meets certain
exploration milestones. It is the intention of Keras to in-specie
distribute these shares to Keras shareholders at the appropriate
time when this is achieved.
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/Jamie Spotswood Northland Capital Partners Limited +44 (0) 20 3861 6625
Broker
Damon Heath/Erik Woolgar Shard Capital Partners LLP +44 (0) 20 7186 9952
Tom Curran/Ben Tadd SVS Securities Plc +44 (0) 203 700 0093
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 30, 2017 02:01 ET (07:01 GMT)
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