THE DRILL SERGEANT: Calidus Resources (ASX: CAI) has extended the strike length of the known mineralisation at the company’s Coronation deposit in the Pilbara region of Western Australia.
Calidus Resources completed the latest drilling as part of a two-pronged strategy it is implementing looking to create value through exploration at the same time as developing its Warrawoona gold project.
Latest results include:
14 metres at 3.77 grams per tonne gold from 52m;
6m at 2.15g/t gold from 30m;
3m at 4g/t gold from 54m;
3m at 2.91g/t gold from 36m;
5m at 1.59g/t gold from 22m;
4m at 1.85g/t gold from 2m; and
2m at 3.08g/t gold from 76m.
“Coronation is just eight kilometres from Warrawoona and is emerging as a potential satellite ore source,” Calidus Resources managing director Reeves said in the company’s ASX announcement.
“The infill drilling at Coronation has effectively doubled the strike length of the resource envelope, with mineralisation now traced over 800 metres length and to a depth of up to 150 metres.
“The deposit is open to the south-east and at depth, so that gives us further confidence of additional exploration success and the possibility of adding the first of many satellite deposits to feed into the Warrawoona development which could potentially extend mine life and increase production.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE