Calidus Resources (ASX: CAI)

Announced the results from a batch of high-priority assays from two drill holes of the maiden drilling program on E46/10261, west-southwest of the Blue Spec mine in WA’s Pilbara region.

Significant intersections include: 41m @ 2.37 g/t Au from 32m in 22GORC009, including 5m @ 3.4 g/t Au from 37m and 9m @ 3.43 g/t Au from 62m. 

.

.

.

.

.

Calidus Resources	ASX: CAI
Stage	Production, exploration
Metals	Gold, lithium
Market Cap	A$174 m  @ A$0.39
Location	Pilbara, Western Australia

.

.

Calidus Gold New gold discovery 65km from Warrawoona project in the Pilbara

Initial assays combined with large, mapped zone of alteration highlight the
potential of the area.

..

Calidus Resources (ASX:CAI) is pleased to announce the results from a batch of high-priority assays from two drill holes of the maiden drilling program on
E46/10261, west-southwest of the Blue Spec mine in WA’s Pilbara region.

The drilling program comprises widely spaced scout holes to test about 2km strike
length of a zone of strong gold-in-soil anomalies extending for more than 3km along
strike associated with the Blue Spec Fault Zone2.

Owing to the hilly topography, a small footprint rig is being used for the maiden program.

The gold-in-soil anomalies are coincident with a mapped halo of carbonate alteration
and an inner envelope of hematite alteration. Assays of >0.5 g/t Au largely correspond with logged zones of fine disseminated pyrite and thin quartz veins in sandstone.

 

HIGHLIGHTS

• First assays received from maiden RC drilling program 7km from Calidus’ Blue
Spec project. Exceptional first assays have been received from maiden RC drilling
program 7km from Calidus’ Blue Spec project. Significant intersections include:
• 41m @ 2.37 g/t Au from 32m in 22GORC009, including:
o 5m @ 3.4 g/t Au from 37m and
o 9m @ 3.43 g/t Au from 62m
• Assays in first two holes correlate strongly with logged and mapped zones of
hematite alteration, highlighting potential for substantial scale
• In light of these strong results, another 12 RC holes have been added to the
original 20-hole program
• Final Investment Decision on the Blue Spec deposit, which is 65km from Calidus’
operating Warrawoona project, is set for June quarter, 2023
• An economic discovery near Blue Spec would enable Calidus to further leverage
the infrastructure at Warrawoona

.

.
Calidus Managing Director Dave Reeves said:

“The width, the grade, and the close proximity to Warrawoona makes this an extremely exciting discovery for Calidus.

“These early results clearly demonstrate that there is excellent upside in the larger area covered by the soil sampling and is a credit to our exploration team who have systematically progressed this greenfields target.

“The results have provided a compelling reason to expand the initial 20-hole RC program to 32 holes while the drill rig is on site.

“Samples from 14 more drill holes are already at the laboratory and we will keep the market updated as we receive more results.”

.

To read the full news release, please click HERE

.

=======

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

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Calidus Resources, bought in the market at the prevailing rate on the days of purchase.

.

.