Calidus Resources Identifies New Gold Targets

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) completed an initial review of the company’s recently expanded land holdings across the Warrawoona gold project in the East Pilbara district of the Pilbara Goldfield in Western Australia.

Calidus Resources said the review had generated numerous high priority gold targets.

Calidus received ASTER (Advanced Spaceborn Thermal Emission and Reflection Radiometer) imagery from across the wider Klondyke area.

The company explained this technology is used to map lithology and hydrothermal alteration zones and identify signatures for gold exploration allowing it to highlight target hydrothermal alteration zones of potentially economic gold mineralisation to discriminate them from altered zones with lower potential.

The imagery consists of 14 data channels covering ranges of visible, near infrared, shortwave infrared and thermal infrared regions of the electromagnetic spectrum.

Using this method, Calidus aims to discern the boundary between altered and unaltered rocks based on alteration minerals and mineral assemblages.

This work is currently being undertaken in conjunction with geological and structural mapping to assist with the ranking of exploration targets.

The company carried out exploration target ranking of the newly acquired Novo tenements, from which it has identified the Trump and Cutty Sark prospects, located approximately 7.5 kilometres to the west of the main Klondyke resource area, as highly ranked near surface high-grade gold targets.

Calidus also completed a regional targeting exercise to confirm a number of potential gold-hosting conglomerate targets on its granted tenements and applications.

During an initial field trip that was aimed at locating the contact horizon and determine the extent of basal Mt Roe formations outcropping on tenement application ELA45/4556 close to Marble Bar, gold nuggets were confirmed.

“With a growing resource base at Klondyke, to have such a suite of exciting regional projects highlights the large potential of this goldfield,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“With the assistance of the CSIRO, we are getting a lot clearer picture of ore shoot control and methods that will allow us to rapidly and inexpensively explore the majority of our landholding.

“This, combined with extensive conglomerate outcrops, which are readily accessed from existing roads, provides Calidus with numerous high ranking targets for the year ahead.

“With such a large amount of opportunity, we have recently employed the highly experienced Brenton Siggs as Exploration Manager to accelerate regional greenfields exploration of our wider tenure whilst our current team continue to focus on resource increase around known deposits.”