Calidus Resources Underpins Expansion for Warrawoona with Blue Spec Reserve

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) announced a Reserve for the Blue Spec deposit, part of the company’s Warrawoona gold project in Western Australia.

Calidus Resources said the Blue Spec Reserve enables advancement of the Sulphide Plant project towards a Final Investment Decision in mid-2023.

The results of a Feasibility Study that supported the Blue Spec Reserve, coupled with the existing Copenhagen Reserve, demonstrates integration of these high-grade satellite deposits into the operating Warrawoona gold project will generate a considerable increase in production and operational cashflow for modest additional capital expenditure.

The Reserve for Blue Spec of 83,000 ounces combined with the 17,000 ounces Reserve at Copenhagen provides a combined 100,000 ounces Reserve that will be treated via the Stage 2 Sulphide Plant to be located at Warrawoona.

The Sulphide Plant would be constructed at Warrawoona with Blue Spec and Copenhagen ore trucked to Warrawoona for processing, a practical option given the low-volume, high-grade nature of both Blue Spec and Copenhagen.

“This maiden Reserve for Blue Spec shows we have a clear pathway to growing production at Warrawoona to 140,000 ounces a year, increasing free cashflow significantly and enabling us to leverage existing infrastructure,” Calidus Resources managing director Dave Reeves said in the company’s ASX announcement.

“Our growth strategy is now underpinned by Reserves of 600,000 ounces in a tier-one location, with a strategically located operational hub and exceptional team.

“Calidus is in an enviable position with a solid foundation of production and a strong growth pipeline based on a substantial Reserve base and significant scope for further increases in mine life through organic and inorganic growth.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.calidus.com.au