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THE DAILY ROADHOUSE

 

Pioneer Resources Estimates Initial Inferred Mineral Resource for Cade Spodumene Deposit

THE DRILL SERGEANT: Pioneer Resources (ASX: PIO) declared it has completed sufficient exploration to estimate an initial Inferred Mineral Resource for the Cade spodumene deposit within the company’s 100 per cent-owned Pioneer Dome project in Western Australia.

Calidus Resources Drilling Underpins Open Pit Resource Upgrade

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported the final batch of RC drilling results from inside the planned Klondyke pit at the company’s 1.25 million-ounce Warrawoona gold project in Western Australia.

Pantoro Confirms High-Grade Mineralisation at Gladstone-Everlasting

THE DRILL SERGEANT: Pantoro Limited (ASX: PNR) released initial drilling results from the Gladstone-Everlasting deposit (Gladstone) at the company’s 50 per cent-owned Norseman gold project in Western Australia.

Cassini Resources and OZ Minerals Expand WMP Tenure

THE BOURSE WHISPERER: Cassini Resources (ASX: CZI) announced an extension to exploration tenure at the West Musgrave Project (WMP), a Joint Venture with OZ Minerals Limited (ASX: OZL) in Western Australia.

Carawine Resources Drilling at Victorian Gold-Copper Project Deposit

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) has commenced diamond drilling at the company’s 100 per cent-owned Jamieson project in northeast Victoria that hosts the Hill 800 and Rhyolite Creek prospects.

Ardea Resources Set to Drill at Mulga Plum Gold Deposit

THE DRILL SERGEANT: Ardea Resources (ASX: ARL) reported that rock chip sampling of old workings spoil and sporadic outcrop at the company’s Mulga Plum gold prospect in Western Australia has confirmed gold mineralisation over an area of at least 200 square metres.

 

Calidus Resources Drilling Underpins Open Pit Resource Upgrade

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported the final batch of RC drilling results from inside the planned Klondyke pit at the company’s 1.25 million-ounce Warrawoona gold project in Western Australia.

Calidus Resources claimed the latest results have provided additional support of the strong grade continuity of gold mineralisation along-strike and down-dip of the planned Klondyke pit.

RC drilling inside the planned Klondyke pit has been designed to upgrade the Resource from Indicated to Measured status and will form part of the Definitive Feasibility Study (DFS) that is currently underway.

The recent activity returned more encouraging intersections, including:

19KLRC288
15 metres at 3.7 grams per tonne gold from 30m;

19KLRC284
12m at 3.93g/t gold from 19m;

19KLRC306
11m at 3.41g/t gold from surface; and

19KLRC283
12m at 3.05g/t gold from 43m.

“With all results now received for the upgrade to a Measured Resource, we have ticked another box in the de-risking and advancement of the Warrawoona gold project,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“We will now commence a review of the open pit resource model, including further optimisation.

“This will form the basis of the open pit resource upgrade targeting the March quarter of next year.

“In addition, we have received results of drilling to the east of the proposed Klondyke pit, where we have intersected some high priority areas for follow up infill drilling.”

Calidus completed an infill RC drill program to the east of the planned Klondyke pit that also returned healthy intersections, including:

19KLRC523
14m at 3.38 grams per tonne gold from 67m;

19KLRC500
5m at 6.69g/t gold from 62m; and

19KLRC522
13m at 2.18g/t gold from 31m.

Calidus has now completed all drilling it had programmed for this year’s field season with a diamond rig having completed metallurgical and geotechnical holes for the DFS.

A geophysical drillhole density logging program is underway and due for completion early December.

The company has the acquisition of detailed airborne magnetic, radiometric and digital terrain data across the tenement package is proposed for completion by mid-December.

It will now commence updating of the open pit geological model now drilling is completed.

 

Email: info@calidus.com.au

Web: www.calidus.com.au

 

THE DAILY ROADHOUSE

 

Stavely Minerals Continues Thursday’s Gossan Growth

THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) reported further news from the shallow, high-grade copper-gold discovery at the Thursday’s Gossan prospect, part of the company’s 100 per cent-owned Stavely copper-gold project in Victoria.

Calidus Resources Hits More Gold in Planned Klondyke Pit

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported a further batch of high-grade RC drilling results from the company’s Warrawoona gold project in the Pilbara of Western Australia.

Independence Group Makes Take-Over Bid for Panoramic Resources

THE BOURSE WHISPERER: Independence Group (ASX: IGO) rattled the boards of the ASX by announcing its intention to make an off-market takeover offer to acquire all of the ordinary shares of Panoramic Resources (ASX: PAN) it does not already own.

Galileo Mining Confirms Fraser Range Nickel Target

THE DRILL SERGEANT: Galileo Mining (ASX: GAL) recently completed aircore drilling at the company’s Lantern prospect, within the Fraser Range nickel belt of Western Australia.

Rox Resources Hits Healthy Gold Intersections at Youanmi

THE DRILL SERGEANT: Rox Resources (ASX: RXL) released results of an air core drilling program undertaken at the company’s VMC Joint Venture, located north of the historical Penny West gold mine and the historical Magenta and Columbia gold prospects in Western Australia.

 

Calidus Resources Hits More Gold in Planned Klondyke Pit

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported a further batch of high-grade RC drilling results from the company’s Warrawoona gold project in the Pilbara of Western Australia.

Calidus Resources said the results provided a continued demonstration of the strong strike and grade continuity of gold mineralisation within the planned Klondyke pit at the 1.25 million-ounce project.

The company explained the RC drilling inside the planned Klondyke pit has been designed to upgrade the current Resource from the Indicated to Measured status and will form part of the current Definitive Feasibility Study underway.

The drilling returned more intersections, including:

19KLRC270
12 metres at 5.58 grams per tonne gold from 12m;

19KLRC266
15m at 4.33g/t gold from 6m;

19KLRC247
36m at 1.53g/t gold from 12m;

19KLRC271
20m at 1.96g/t gold from 20m;

19KLRC231
21m at 1.63g/t gold from 9m;

19KLRC264
6m at 5.12g/t gold from surface; and

19KLRC261
6m at 5.11 g/t gold from 18m.

“Drilling continues to intersect wide, high-grade mineralisation in the planned open pit,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“These results are frequently above the current average pit grade of 1.4 grams per tonne, they are shallow and they demonstrate excellent continuity of mineralisation.

“This means the economic and technical outlook for Warrawoona continues to strengthen, with the potential returns growing and the risks falling.

“In addition, the initial diamond core drilling to test the down-dip potential of the Klondyke mineralisation looks promising.

“While assays are pending, the geology intersected and visible gold observed by geologists supports our view that it is a good opportunity to grow the Resources and Reserves below the Klondyke pit.”

 

Email: info@calidus.com.au

Web: www.calidus.com.au

 

THE DAILY ROADHOUSE

 

 

Calidus Resources Confirms Robustness of Warrawoona Pit

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) announced further results from within the planned open pit at the company’s Warrawoona gold project in the Pilbara region of Western Australia.

Gold Road Resources Completes Healthy Gruyere Quarter

THE BOURSE WHISPERER: Gold Road Resources (ASX: GOR) released its activity report for the quarter ending 30 September 2019.

Perseus Mining Shuffles Seats at Boardroom Table

THE DRILL SERGEANT: Perseus Mining (ASX: PRU) made its intentions known that it will be proposing the appointment of David Ransom to the role of non-executive director at the company’s upcoming Annual General Meeting.

 

Calidus Resources Confirms Robustness of Warrawoona Pit

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) announced further results from within the planned open pit at the company’s Warrawoona gold project in the Pilbara region of Western Australia.

Calidus Resources said the latest results, which will be used to establish a Measured Resource, continue to demonstrate that the mineralisation in the planned Klondyke open pit is outcropping, wide and continuous.

Recent intersections include:

19KLRC218
35 metres at 2.84 grams per tonne gold from surface;

19KLRC241
23m at 2.55g/t gold from 15m;

19KLRC243
23m at 2.06g/t gold from 1m;

19KLRC245
20m at 1.97g/t gold from 25m;

19KLRC250
23m at 1.32g/t gold from 13m;

19KLRC221
25m at 1.08g/t gold from surface;

19KLRC235
23m at 1.17g/t gold from 34m;

19KLRC244
13m at 2.05g/t gold from 15m;

19KLRC251
15m at 1.06g/t gold from 2m;

19KLRC236
13m at 1.13g/t gold from 12m;

19KLRC230
12m at 1.16g/t gold from surface;

19KLRC230
9m at 1.36g/t gold from 21m to EOH; and

19KLRC236
8m at 1.52g/t gold from surface.

“These results continue to demonstrate that the mineralisation at Klondyke is wide, continuous and outcrops at surface,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“This further boosts the economic outlook for the planned open pit while derisking the operation in the process.

“In simple terms, it means we would be mining ore from day one with no pre-strip required.

“Drilling continues at Klondyke with two rigs; while an RC rig is currently drilling greenfields targets three kilometres west of Klondyke, the diamond rig continues to infill the underground resource.

“All of this drilling is aimed at extending mine life, which would in turn enhance the previously-quoted PFS metrics.”

Calidus commenced the 88-hole resource infill drilling program in August 2019 within the boundaries of the proposed Klondyke open pit, with the objective of upgrading early production into the higher confidence, JORC compliant Measured Resource category.

The shallow RC program was designed to define the grade distribution the company anticipates to be exploited in the first twelve months of open pit mining and is concentrated on the near surface expression in the eastern portion of the Klondyke PFS proposed pit design.

The PFS has demonstrated that Warrawoona will be a robust project producing around 100,000 ounces per annum with a Life-of-Mine All-in Sustaining Cost of approximately $1,159 per ounce.

Calidus will incorporate the results of the Klondyke resource infill program into an updated resource model where the company expects to upgrade a portion of production within the first year of the open pit into the higher confidence JORC compliant Measured Resource category.

The company has recently deployed a diamond core rig to accelerate conversion of Inferred resources to Indicated as part of the development work around a potential underground operation.

 

Email: info@calidus.com.au

Web: www.calidus.com.au

 

Calidus Resources Drilling Intercepts Underpin Resource Upgrade

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) received results for the remaining 32 RC and AC drillholes of a 42-hole RC program aimed at expanding the current Resources at the company’s Warrawoona gold project in Western Australia.

The total program comprised 35 RC drillholes within the current Klondyke/St George pit designs, as well as four initial shallow holes to test a section of the Highway Shear chargeability anomaly.

Eleven RC holes were drilled into the St George PFS pit designs to assist in converting these resources to an Indicated category.

Assays from this drilling included:

19SGRC078
13 metres at 11.1 grams per tonne gold from 30m, including 1m at 107.16g/t gold from 36m;

19SGRC081
13m at 5.58g/t gold from 46m; and

19SGRC075
12m at 1.73g/t gold from 23m.

Drilling on the eastern side of the Klondyke PFS pit design was planned to increase resources in an area that had limited drill density and as a result allow the PFS pit design to be driven deeper.

Calidus has been encouraged by the intercepts received that appear to have achieved their aim.

Highlights from this part of the resource included:

19KLRC192
10m at 6.81g/t gold from 47m, including 1m at 50.77g/t gold from 49m;

19KLRC193
5m at 3.16g/t gold from 126m;

19KLRC201
22m at 2.13g/t gold from 19m; and

19KLRC195
15m at 1.71g/t gold from 41m.

“With the completed PFS showing a robust six-year initial mine life, we are now focussing growing the mine life and continuing to de-risk this quality WA gold development story,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“This drilling was planned to build confidence in the resource categories and potentially add further open pit reserves by increasing pit depth in areas of low drill density.

“The high-grade tenor of the results confirms that areas of the pit will contain bonanza grades.

“With one rig on site and a second rig to be mobilised for the remainder of this calendar year, there will be strong newsflow as we continue to add mine life and increase confidence in the resource and reserves at Klondyke.”

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

Calidus Resources Improves Warrawoona Confidence

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) announced first assay results from a recent 42-hole RC drilling program at the company’s Warrawoona gold project in the Pilbara region of Western Australia.

Calidus Resources stressed the importance of the results being from infill drilling, saying they confirm the continuity of the western part of the main Klondyke Resource model at Warrawoona.

Results for the eastern portion are pending and are expected to be released soon.

Of the 42-hole RC drilling program, 35 RC drill holes were completed over the current Klondyke Resource as part of the infill program while a further 7 RC drill holes were drilled into two regional targets that a truck-mounted air-core rig was unable to access.

Calidus has received an initial batch of results for 10 holes drilled into the western part of the Klondyke Resource, with results including:

13m at 1.58 grams per tonne gold from 28m;
12m at 1.52g/t gold from 66m;
5m at 2.85g/t gold from 2m;
7m at 1.9g/t gold from 86m; and
6m at 2.06g/t gold from 71m.

Calidus explained the infill drilling across the Klondyke deposit was undertaken to increase the reliability of the Resource and the mineralisation types inside the PFS open cut pit design as part of an ongoing strategy to de-risk the project.

“The RC drilling and trench campaigns are part of Calidus’ strategy to derisk the development of the Warrawoona project, where a Pre-Feasibility Study is due for completion next month,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“Upgrading drill density and trenching the upper portions of the Klondyke Resource will result in an improved level of confidence in lode geometry, continuity and predictability.

“Results will be used to refine the open-cut mine design and shallow early mine-feed material.”

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

Calidus Resources Drilling Highlights Resource Upgrade Potential

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) received first assays from a regional drilling program underway at the company’s Warrawoona gold project in the Pilbara of Western Australia.

Calidus described the results as “outstanding” with the exploration campaign part of its strategy to grow the 1.25 million-ounce JORC Resource at Warrawoona, where a Preliminary Feasibility Study is due for completion in July.

Results for an initial 25 holes of a larger 35-hole regional air-core program have been received.

Calidus explained the broad-spaced air-core drilling was undertaken to test several conceptual targets along the Klondyke and St George shears to the west of the 1.15 million-ounce existing resource and a gold-in-soil anomaly at Liberator to the south.

Shallow, high-grade gold intersected across the Klondyke Shear up to 5km west of the current Resource returned results including:

19TRAC008
8 metres at 8.06 grams per tonne gold from 56m;

19WWWB004
4m at 8.87g/t gold from 48m;

19KLAC009
12m at 2.37g/t gold from 52m;

19TRAC009
8m at 1.85g/t gold from 48m;

19TRAC006
4m at 3.54g/t gold from 60m; and

19SGAC003
4m at 2.35g/t gold from 44m.

“The results highlight the strong potential to grow the Warrawoona Resource,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“This is the first investigatory drilling that Calidus has undertaken well away from the established 1.15 million-ounce Resource at Klondyke.

“We are very encouraged by the results from this first-pass regional drilling program, which has identified shallow mineralisation up to five kilometres west from the Klondyke resource on the same geological structure.

“These results highlight Warrawoona’s potential to host further near-surface gold mineralisation in close proximity to the proposed mine development.

“We are looking forward to what is shaping up as a transformational financial year ahead as we complete feasibility studies, grow resources and explore the regional potential of the project.”

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

Calidus Resources Enhances Warrawoona Exploration Potential

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.”

 

Email: info@calidus.com.au

Website: www.calidus.com.au