Calidus Resources (ASX: CAI)
Reporte exceptional final drill results from 14 holes of a 24 hole RC programme at the high-grade Bulletin deposit, where mining is planned to commence later this calendar year and processed through the Warrawoona Mill.
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| Calidus Resources | ASX: CAI |
| Stage | Production, exploration |
| Metals | Gold, lithium |
| Market Cap | A$125 m @ A$ 20.5c |
| Location | Pilbara, Western Australia |
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Calidus announce shallow, high-grade intercepts highlight the potential for Bulletin to play significant role in Warrawoona production outlook.
Maiden Resource imminent; Bulletin will be part of two-year production guidance to be published next month.
Calidus Resources Limited (ASX:CAI) (“Calidus”, “the Company”) is pleased to report exceptional final drill results from 14 holes of a 24 hole RC programme at the high-grade Bulletin deposit, where mining is planned to commence later this calendar year and processed through the Warrawoona mill.
Bulletin is a part of the profit share Joint Venture with Haoma Mining NL (“Haoma”)
60:40 (Calidus:Haoma).
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HIGHLIGHTS
• All assays have been received for the remaining 14 holes at Bulletin, highlights
include:
• 17m @ 12.7g/t Au from 37m (23BTRD005)
• 10m @ 6.4g/t Au from 46m (23BTRD017)
• 7m @ 8.9g/t Au from 108m (23BTRD018)
• 4m @ 11.4g/t Au from 35m (23BTRD023)
• 6m @ 7.4g/t Au from 84m (23BTRD017)
• 5m @ 7.5g/t Au from 53m (23BTRD023)
• 13m @ 2.4g/t Au from 44m (23BTRD004)
• 18m @ 1.7g/t Au from 37m (23BTRD025)
• These results follow previously announced outstanding drill results from the first
10 holes, highlights included:
• 14m @ 8.58g/t Au from 50m (23BTRD020)
• 32m @ 3.42g/t Au from 143m (23BTRD013)
• Bulletin has fast become a major priority to commence mining in H2 CY2024, as
it has the potential to deliver a significant step-change in Calidus’ production
profile at the Warrawoona Gold Project.
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Calidus Managing Director Dave Reeves said:
“These results confirm high grade mineralisation continues to near surface at Bulletin, which will greatly support strong project economics.
“The Mineral Resource Modelling that will allow a Maiden Ore Reserve and the finalisation of a 2-year production profile outlook is now underway, and we look forward to providing this before the end of January.”
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To read the full news release, please click HERE
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds shares in Calidus Resources.
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