THE DRILL SERGEANT: Calidus Resources (ASX: CAI) announced results from a recent Induced Polarisation (IP) survey carried out at the company’s Warrawoona gold project in the Pilbara of Western Australia.
Calidus Resources said the results highlighted the potential for further growth in the 1.25-million-ounce Resource at Warrawoona, which will further underpin the project’s production profile, mine life and economics.
The IP reconnaissance program highlighted a parallel shear 400 metres south of Klondyke buried at a depth of approximately 60 to 80 metres with similar chargeability signatures to the 1.15 million-ounce Klondyke deposit.
The results of the recent IP program indicated two styles of IP anomalies have now been identified; a Klondyke style and a St George style.
A clear Klondyke style anomaly has been identified over the Highway Shear area, which has never been drill tested.
Given the similarity to the Klondyke anomaly, Calidus considers the Highway Shear anomaly a high-priority target.
There has been no exploration to date along this trend and Calidus geologists are currently field mapping this structure in detail.
Calidus said this reinforced its view that the deposit represents a much larger system than current drilling suggests.
“The IP traverses show a clear correlation between gold mineralisation and IP anomalism and we are excited to further examine the strong Klondyke‐style chargeability anomaly identified over the Highway Shear which has never been drilled,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.
“As the Highway Shear is located immediately adjacent to the planned two-kilometre‐long open pit and underground being contemplated in the PFS, we will undertake drilling here in Q3 as a priority.”