Calidus Resources Identifies New Large High-Grade Satellite Deposits to Feed Warrawoona

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) carried out technical reviews that resulted in identification of Mickey’s Find as another property with the potential to deliver high-grade profitable ounces to the company’s Warrawoona gold project (WGP).

Mickey’s Find is part of the recently announced Haoma Joint Venture (CAI 60%: Haoma 40%), and was earmarked as a priority by Calidus due to its proximity to WGP, granted Mining Leases and potential to supply substantial high-grade ore to the Warrawoona processing plant.

High-grade mineralisation at Mickey’s Find, which is open along strike and at depth, was last drill tested in 2003 by Haoma that drilled a thicker, lower-grade gold-silver-copper intercept located 800m west of the main area of drilling, which Calidus plans to explore in parallel.

Identification of Mickey’s Find follows the Blue Bar and Bamboo Creek high-grade regional gold deposits, which were identified on granted Mining Leases within trucking distance of Warrawoona that require minimal upfront capex.

Calidus aims to soon restart production at Blue Bar to provide high-grade ore supply to Warrawoona, including stockpiles of 10,000 tonnes at 1.5 grams per tonne gold.

“Mickey’s Find is a potentially significant gold system that could provide substantial long-term feed to the Warrawoona operations,” Calidus Resources managing director Dave Reeves said in the company’s ASX announcement.

“The high-grade mineralisation is just 60 kilometres from the Warrawoona plant and drilling completed in 2003 by Haoma highlighted an additional opportunity to identify a bulk tonnage gold-silver-copper deposit.

“We are aiming to imminently restart production at Blue Bar with Bamboo Creek and then Mickey’s Find to follow.

“These deposits will provide high-grade ore supply to Warrawoona, supplementing material from the Klondyke open pit.

“Importantly these new regional deposits identified on the Haoma JV are located on granted Mining Leases within trucking distance of Warrawoona and require minimal upfront capex due to being amendable to shallow open pits.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE