Calidus Resources (ASX:CAI)

Provided an update on operations at its Warrawoona Gold Project in February 2023.

A total of 182,000 tonnes of ore at a reconciled grade of 0.89 g/t was processed with 5,005 ounces of gold recovered. This equates to 180 ounces per day or 66,000 ounces annualised. 

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Calidus Resources	ASX: CAI
Stage	Production, exploration
Metals	Gold, lithium
Market Cap	A$105 m  @ A$0.24
Location	Pilbara, Western Australia

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Calidus Resources Warrawoona Gold Mine achieves record production rates in February – Daily production climbs to 180ozs per day

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Calidus Resources (ASX:CAI) is pleased to provide an update on operations at its Warrawoona Gold Project (WGP) in February 2023.

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Production Update

A total of 182,000 tonnes of ore at a reconciled grade of 0.89 g/t was processed with 5,005 ounces of gold recovered.

This equates to 180 ounces per day or 66,000 ounces annualised.

February numbers should be taken in the context of it being a short 28-day month and included a planned one-day mill maintenance shutdown.

During the month of February, mining achieved budgeted movement of 455,000 BCMs and the mill operated at 300tph, which is 6% above estimated blend throughput rate (factoring into account the amount of fresh ore being fed that has a budget throughput rate of 250tph).

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Exploration Update

Drilling of 17 closely spaced holes targeting extensions of the previously reported high grade intercept of 6m @ 40.15 g/t Au at the newly discovered Felix deposit has been completed.

Assays are expected in early April.

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Corporate Guidance for H1 CY 2023 remains unchanged at 31,000 to 36,000 ounces at A$2,000 to A$2,250 per ounce due to current maximum strip ratios being undertaken in the pit.

As the strip ratio decreases to LOM averages combined with the increased milling performance, the Company is targeting an average LOM Open Pit AISC of between A$1,700 to A$1,850 per ounce.

More detail will be provided in the guidance to be released at year-end.

The Company made a further A$5 million debt repayment in February reducing the outstanding balance of the Project Loan Facilities to A$97 million.

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To read the full news release, please click HERE

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Disclosure

At the time of writing the he author holds shares in Calidus Resources.

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