Calidus Resources Expands Warrawoona Mineralisation

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) released results from drilling underway at the Copenhagen gold deposit, located in the Pilbara of Western Australia.

The Copenhagen satellite deposit lies approximately 10 kilometres to the West of the current Klondyke deposit at the company’s 712,000 ounce Warrawoona gold project.

Calidus is undertaking a large resource infill and extension program across the Warrawoona project with an aim to expand the current resource to underpin a pre-feasibility study in 2019.

Copenhagen diamond drilling returned intercepts of:

10 metres at 5.38 grams per tonne gold from 63m; and

1m at 7.91g/t gold from 121m.

Other drilling underway includes RC drilling at the Klondyke East extension where Calidus has encountered further ore grade mineralisation east of the current 654,000 ounce Mineral Resource defined during 2017.

Recent intercepts from the current round of drilling include:

12m at 2.15g/t gold from 0m;

4m at 6.08g/t gold from 99m;

12m at 1.73g/t gold from 24m;

8m at 1.92g/t gold from 0m;

1m at 13.36g/t gold from 91m;

6m at 1.58g/t gold from 166m; and

1m at 9.25g/t gold from 121m.

“The Resource definition drilling program at Copenhagen has significantly improved our understanding of the high-grade plunge orientation of this orebody,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“This information will support our targeting for depth extensions with the second phase of drilling to commence at Copenhagen during the current quarter.

“We are also pleased with the confirmation of mineralisation commencing from surface further east of our Klondyke Resource and will continue to evaluate the potential for further extensions with our systematic program.

“The company is also testing the St George Shear Zone via initial scout drilling which has received no modern exploration.

“In parallel, further geological work has defined a continuous working of over one kilometre on surface that targeted a chert/quartz vein that on closer inspection shows excellent continuity at depth and represents a high priority target for additional high-grade resources.

“A program targeting this area will commence in the next two weeks with a second rig and will include a large portion of diamond drilling to enable a selective grade to be reported.”