Calidus Resources (ASX:CAI)

Announced further drilling results which support its strategy to grow the inventory, production and mine life at its Warrawoona Gold Project.

The growth strategy involves the definition and development of gold deposits within trucking distance of Warrawoona.

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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 Drilling results underpin shallow growth opportunities at Blue Spec East
Blue Spec East results highlight potential growth in inventory, production and mine life

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Calidus Resources Limited (ASX:CAI) is pleased to announce further drilling
results which support its strategy to grow the inventory, production and mine life at its
Warrawoona Gold Project.

The growth strategy involves the definition and development of gold deposits within trucking distance of Warrawoona.

The drilling programs were designed to follow up on initial results testing the potential
for Blue Spec East to host a shallow Mineral Resource which would be amenable to
open pit mining and the possibility for Marble Bar to contribute to high-grade ore.

Results from the latest drilling campaign confirms these mineralised zones are within
20m of the surface, with several intercepts encountered less than 10m below surface.

HIGHLIGHTS

• All gold assays have been received for two programs of RC drilling to investigate
the potential for shallow resources at Blue Spec East and Marble Bar, located
75km and 25km respectively from the Warrawoona Gold Project
• Latest results at Blue Spec East include:
• 10m @ 1.54g/t Au from 35m in 22BSRC024,
• 14m @ 1.05g/t Au from 34m to EOH in 22BSRC022, and
• 10m @ 1.34g/t Au from 33m (including 2m @ 2.57g/t Au from 42m) in
22BSRC026.
• These results are outside the Blue Spec Resource being used in the current
Feasibility Study and have the potential to further improve the economics of the
greater Blue Spec Project
• Latest results at Marble Bar include:
• 2m @ 12.29g/t Au from 78m in 22MBRC021, and
• 1m @ 15.08g/t Au from 60m in 22MBRC014

 

Calidus Managing Director Dave Reeves said:

 

“These results clearly demonstrate that there is the prospect of additional mine life at Blue Spec beyond the current Mineral Resource.

 

“The results highlight the potential to increase the production profile at Warrawoona and improve the economics of the Blue Spec Project”.

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To read the full news release, please click HERE

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Disclosure

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

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