Calidus Resources Confirms High-Grade Gold Across all Prospects

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THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported that diamond drilling has confirmed the presence of high-grade gold at all the company’s prospects located in the Pilbara of Western Australia.

Calidus Resources said it had encountered high-grade gold across its Klondyke, Copenhagen, Coronation and Fieldings Gully prospects.

The company will soon commence an accelerated drilling program to follow up these results.

Calidus said visible gold observed during geological logging had been confirmed by high-grade assays in all three core holes drilled at Klondyke.

Wide high-grade mineralisation was confirmed in core drilling at the Copenhagen, Coronation and Fieldings Gully satellite deposits, all located within 10 kilometres of Klondyke.

Drilling intercepts include:

Klondyke

17KLDD001

25 metres at 3.41 grams per tonne gold from 88m

Copenhagen

17CPDD001

6m at 7.74g/t gold from 70m

17CPDD002

4m at 7.46g/t gold from 56m

Coronation

17CRDD001

10m at 3.31g/t gold from 108m

Fieldings Gully

17FGDD001

10m at 9.68g/t gold from 85m.

The company indicated that preparations for extensional drilling at Klondyke East, Fieldings Gully and Copenhagen have commenced, with the aim of completion by end of year.

“We have successfully intersected multiple high-grade gold intercepts at all of our satellite deposits drilled to date, in addition to a wide high-grade zone in the middle of the Klondyke resource,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“This ongoing regional exploration in proximity to Klondyke continues to reveal exceptional results which provides further support for the potential for significant new discoveries and additional resource ounces at Klondyke and within the existing tenement portfolio.

“In light of these exceptional results, we have expanded our previously announced Klondyke East drilling to target extensions of the recently drilled Fieldings Gully and Copenhagen deposits with drilling due to commence at the end of this week.

“With drilling due to commence again imminently and our resource upgrade on track for delivery this year, we continue to aggressively define this large, shear hosted gold project which we believe will support a stand-alone gold development in the future.”

Email: info@calidus.com.au

Website: www.calidus.com.au