Calidus Resources Extends Klondyke Mineralisation

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) provided an update on drilling of 12 RC holes along a reconnaissance traverse directly East of the company’s Klondyke gold deposit, located in the Pilbara of Western Australia.

Calidus Resources claimed the broad-spaced RC drilling program had outlined the continuation of the main Klondyke mineralised shear zone up to two kilometres further East from where the current 654,000 ounce resource ends.

Assays from the latest RC holes above a 10gm include:

16 metres at 2.34 grams per tonne gold from 136m;

10m at 3.67g/t gold from 58m;

7m at 4.58g/t gold from 175m;

6m at 3.32g/t gold from 167m;

13m at 1.24g/t gold from 104m; and

2m at 5.44g/t gold from 39m.

“The Klondyke East maiden drilling campaign has confirmed that the main Klondyke Shear is proving up as a substantial gold system,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“Drilling has intersected outcropping gold mineralisation for over two kilometres from the eastern limit of the existing 2.6 kilometres long, 654,000 ounce resource.

“With deep drilling underway beneath the existing resource, the true scale of Klondyke is beginning to be revealed.

“Mapping of the shear to east of this shows a continuation of the host rock sequence for a further two kilometres along strike from this drilling.

“These results increase our confidence that with the extensional drilling planned this year, we will see a significant increase in defined resources at the Klondyke Prospect.”

Calidus has completed detailed field mapping and pXRF sampling that will allow the company to commence further infill and further extensional drilling in May.

The field work has also highlighted similar geology continues for a further 2km east of this drilling.