Posts

Calidus Resources Grows Warrawoona Gold Resource by 75%

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) announced a substantial increase to its Mineral Resource with a high conversion to Indicated Mineral Resources at the company’s 100 per cent-owned Warrawoona gold project, located in the Pilbara of Western Australia.

Calidus Resources has taken the total JORC 2012-compliant Mineral Resource (Measured, Indicated and Inferred) for the Warrawoona project to21.2 million tonnes at 1.83 grams per tonne gold for 1.25 million ounces.

The total includes a 75 per cent increase (1.25 million ounces) in total contained ounces from the previously announced December 2017 Mineral Resource.

The Mineral Resource contains a high‐grade component estimated to contain 14.6 million tonnes at 2.37g/t gold for 1.1 million ounces.

The company said the Resource remains open both at depth and along strike, and that it considers potential exists for further resource growth.

The updated Resource will be incorporated into the Pre‐Feasibility Study, which is progressing and due for completion later this year.

The company indicated the major contributor to the Resource increase being the Klondyke Main Shear, which encompasses the Klondyke East prospect as well as the St George Shear prospect lying 150m immediately to the north of the Klondyke Main Shear.

Infill and extensional drilling increased overall shallow Resources by 42 per cent to a total of 17.8 million tonnes at 1.62g/t gold for 930,000 ounces (at a 0.5g/t Au cut‐off).

Calidus explained that at a 0.8g/t Au cut‐off, the shallow portion of the Klondyke resource is potentially amenable to open‐pit mining comprising 800,000 ounces at a grade of 2.19g/t gold.

The company said it has developed the he updated Resource to demonstrate proof‐of‐concept of the potential for underground development of Klondyke Deeps with an initial resource of 2.2 million tonnes at 3.13g/t gold for 220,000 ounces (at a 2g/t Au cut‐off) of all mineralised material below the 100mRL (200m below surface).

“To effectively triple our high‐grade resource base to 1.25 million ounces within 18 months of listing highlights the unique attributes of the major gold system at Warrawoona,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“Given the shallow and high‐grade nature of the resource and its prime location in proximity to high‐quality infrastructure and a number of operating mines, Warrawoona has rapidly emerged as a highly‐valuable asset which we believe will clearly justify the development of a standalone mining and processing operation.

“The updated resource will underpin the pre‐feasibility study that is due for completion in Q3‐CY2019 and the subsequent bankable study as we continue our strategy of becoming a low risk, near term gold producer.

“There is obvious opportunity to grow the Mineral Resource along strike and at depth, plus we will evaluate and test a number of regional prospects in 2019, which have excellent potential to generate shallow ounces that could be included within our overall Mineral Resource inventory.”

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

Calidus Encounters Further High-Grade Gold at Warrawoona

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) released the latest high-grade drilling results achieved from the St George Shear and Klondyke East prospects at the company’s Warrawoona gold project in Western Australia.

Calidus Resources said the reustlts had confirmed extensions to the current Resource area at the Warrawoona project.

The company explained the drilling is part of a larger resource infill and extension program it has going to expand the current 712,000 ounce Warrawoona resource leading to the commencement of a pre-feasibility study in 2019.

Infill drilling for open-pit resources at the new high-grade gold zone St George, 150m North of the Klondyke Main resource, returned intercepts including:

18SGRC031
6 metres at 7.61 grams per tonne gold, including 1m at 40.64g/t gold from 16m;

18SGRC032
8m at 5.64g/t gold, including 1m at 11.03g/t gold, 1m at 13.05g/t gold and 1m at 10.95 g/t gold from 44m;

18SGRC047
14m at 1.77g/t gold from 35m; and

18SGRC050
2m at 10.23g/t gold, including 1m at 18.91g/t gold from 91m.

Klondyke East in-fill drilling returned the following:

18KLRC152
2m at 20.84g/t gold, including 1m at 40.51g/t gold from 88m;

18KLRC148
6m at 3.82g/t gold from 93m;

18KLRC172
15m at 0.97g/t gold from 97m;

18KLRC157
2m at 7.29g/t gold, including 1m at 12.75g/t gold from 66m; and

18KLRC158
1m at 10.79g/t gold from 2m.

“The ongoing multi-target drilling programs at the Warrawoona gold project continue to be very successful, aiming to build on the landmark 712,000 ounce resource we delivered in December 2017 and clearly showing that the project has considerable upside,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“The high-grade tenor of the St George Shear intercepts is very encouraging especially considering its location being only 150 metres north of the Klondyke deposit.

“With still 60 per cent of this area to report and the tenor of grade increasing to the west, I look forward to reporting these further results and the results of an initial diamond drill program that is targeting resources beneath the potential open pit at Klondyke.

“This drilling is now complete with drill rigs now moving to complete geotechnical drilling and water bore drilling for the upcoming pre-feasibility study.”

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

Calidus Resources Sells Off Conglomerate Gold Rights

THE BOURSE WHISPERER: Calidus Resources (ASX: CAI) has entered into a binding letter of intent (LoI) to sell off the Conglomerate Gold Rights over the company’s portfolio of eight exploration licenses.

Calidus Resources will receive seven million shares in TSXV-listed Pacton Gold Inc, a bundle that is currently valued at C$3.5 million.

The actual tenements will be retained by Calidus, as the agreement is over right to explore for and mine conglomerate gold, with all shear hosted/basement gold to be retained by Calidus.

The portfolio in question consists six granted exploration licenses and two exploration licenses currently under application with mapped conglomerates.

Pacton will be liable for rehabilitation and environmental obligations and will need to spend a minimum of C$50,000 in aggregate on all tenements during each 12-month period from commencement of the Gold Rights Agreement.

“This is a pleasing outcome as sale of the Conglomerate gold rights provide Calidus with an opportunity to realise value over non-core areas of the company’s portfolio,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“This value can in time be applied to assisting in funding our core focus which is developing the Warrawoona gold project.”

Calidus explained that the Gold Rights relate to material that overlies the basement rocks and that is formed of transported material.

Specifically, this means the Fortescue Group conglomerates that overlie the Warrawoona Greenstone Belt.

The relevant tenements covered by the LoI do not include areas covered by the company’s current resource or planned drilling program.

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

Calidus Resources Identifies 1,000 metre strike Mineralisation from Surface at St George Shear

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) received results from drilling underway at the company’s Warrawoona gold project, located in the Pilbara of Western Australia.

Calidus Resources indicated the resource infill and extension program is being carried out with an aim to expand the current resource to underpin a pre‐feasibility study in 2019.

As part of this program, Calidus is testing high priority targets including the St George Shear that it considers to have potential to increase the Warrawoona resource.

According to the company. wide spaced RC drilling of the St George Shear prospect approximately 150 metres from the current 654,000 ounce Klondyke resource has demonstrated the potential to rapidly add ounces to its resource base.

Latest results include:

18SGRC008
8 metres at 3.9 grams per tonne gold from 0m, including 1m at 11.3g/t gold from 0m;

18SGRC012
11m at 1.53g/t gold from 28m; and

18SGRC013
6m at 2.27g/t gold from 88m;

“Our exploration program continues to deliver strong results and highlights the significant discovery potential proximal to the existing Klondyke resource,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“The shallow intersections highlight the near surface gold potential across the St George Shear structure and it’s potential to enhance the economics of any potential future development at Klondyke.

“This initial set of results from our first line of broad‐spaced holes across the St George Shear validates the geological targeting model and further boosts our confidence in the potential of the regional shear structures to deliver results.

“We will undertake further drilling within this identified 1,000 metre zone with an aim to bring St George into our global resource.

“We have just commenced RC resource upgrade drilling at the Copenhagen deposit as well as a diamond drill program testing an 800-metre-long continuous high‐grade structure lying at the base of the current Klondyke pit design.

“With three drill rigs now in operation we look forward to reporting results on a regular basis.”

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

Calidus Resources Identifies new Warrawoona Drill Targets

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) has identified several gold-in-soil anomalies across the Warrawoona gold project, located in the Pilbara of Western Australia.

Calidus Resources is currently in the middle of a large resource infill and extension program across the Warrawoona project in the coming months.

The company said the recently-identified gold-in-soil anomalies add new walk-up drill targets with potential to add further scale to the project where there has been limited regional exploration activity over the past 30 years.

By using modern exploration techniques to define new prospects, Calidus has identified multiple new mineral occurrences that remain untested, with most targets remaining open along strike.

The company has a RC drilling program planned to initially evaluate the most notable anomaly at the Liberator prospect.

“We are delighted to announce the results of our maiden soil geochemistry program,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“The 2018 soil sampling program has been effective in refining known gold prospects and defining previously unknown gold-in-soil anomalies within the project area.

“The dimensions of these soil anomalies are several orders of magnitude higher than the average background gold mineralisation values which is very encouraging at this early stage.

“We believe this supports the potential of the project to generate multiple near surface targets.

“Detailed geological mapping and drill testing under selected high-priority targets will be undertaken during the year.”

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

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:

18CPDD004
10 metres at 5.38 grams per tonne gold from 63m; and

18CPDD003
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:

18KLRC111
12m at 2.15g/t gold from 0m;

18KLRC130
4m at 6.08g/t gold from 99m;

18KLRC120
12m at 1.73g/t gold from 24m;

18KLRC124
8m at 1.92g/t gold from 0m;

18KLRC111
1m at 13.36g/t gold from 91m;

18KLRC122
6m at 1.58g/t gold from 166m; and

18KLRC119
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.”

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

Calidus Resources Confirms Coronation High-Grades

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) announced confirmation of further high-grade results from the Coronation prospect and depth extensions below the Klondyke Resource at the company’s Warrawoona gold project, located 25kms south of Marble Bar in the East Pilbara of Western Australia.

Calidus Resources completed initial reconnaissance drilling at Coronation that has defined high-grade strike of 250 metres adjacent to the previously high-grade drilling results.

Latest drilling intercepts include:

18CRRC007
10 metres at 3.84 grams per tonne gold, including 1m at 30.4g/t gold from 27m; and

18CRR008
8m at 2.22g/t gold from 71m.

Calidus also recorded rock chips up to 114.7g/t gold from surface at Coronation.

The company is now planning a Resource drill out program at Coronation for this year to add shallow high-grade ounces.

Recent deep diamond drilling has extended gold mineralisation at Klondyke 150m down dip of previous drilling to 370m depth with an intercept of:

18KLDD010
2m at 6.01g/t gold, including 1m at 9.39g/t gold from 421m.

The company said its Klondyke RC resource drill out was progressing well with first results due within four weeks.

“Reconnaissance drilling at the satellite Coronation prospect has highlighted a 250 metre long high-grade zone that will be in-fill drilled in the coming year to provide a maiden resource for Coronation adding to the 712,000 ounce inventory that already exists at Warrawoona,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“In addition, the intersection of high grade gold at Klondyke 150 metres below previous drilling is very exciting.

“Proving that the structure extends at depth, even on the far edges of our resource, gives us confidence that there is large blue-sky potential across Klondyke at depth.

“For now, however, we will concentrate on the shallow open pit resource potential of Klondyke for the remainder of this year and re-visit the extension of mineralisation at depth once we have gained further knowledge on the deposit.

“I am pleased to report that this resource extension drilling is progressing well and I look forward to announcing these results on a rolling basis over the coming five months.”

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

Calidus Resources Drilling at Warrawoona

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) commenced a 2018 resource definition drilling program at the company’s Warrawoona gold project, south of Marble Bar in the East Pilbara of Western Austaralia.

Calidus will conduct the dual-purpose program to consist of both Reverse Circulation (RC) and diamond drilling, to expand the existing gold resource base of 712,000 ounces and to verify new targets adjacent to the existing resource.

An initial 30,000m RC resource drilling program has commenced onsite at Klondyke with the objective of growing the Mineral Inventory to in excess of one million ounces at Warrawoona by the end of 2018.

Drilling is focussing on areas the company has ranked in accordance with proximity to the existing Klondyke Mineral Resource including shallow strike extensions and potential for high grade shoot geometries.

“The main focus of our 2018 drilling program is to grow the Resource Inventory to in excess of one million ounces by the end of 2018,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“This would allow the company to push the green light on commencement of a formal pre‐feasibility study.

“Given the outstanding success of our maiden drilling in 2017, we are confident that this is an objective that is readily achievable.

“The resource drilling will concentrate on the shallow, outcropping strike extensions to Klondyke for a distance of 1.2 kilometres east and 800 metres west of the existing resource, nearly doubling the drilled strike of Klondyke to 4.5 kilometres.

“In addition to the growth of along strike ounces at Klondyke, we will shortly undertake an initial reconnaissance drill program on the St George’s Shear that lies 150 metres to the north of Klondyke, is parallel to Klondyke and shares very similar geology to Klondyke.

“We have planned to test this area over a length of four kilometres.”

 

Email: info@calidus.com.au

Website: www.calidus.com.au

 

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:

18KLRC095
16 metres at 2.34 grams per tonne gold from 136m;

18KLRC099
10m at 3.67g/t gold from 58m;

18KLRC095
7m at 4.58g/t gold from 175m;

18KLRC096
6m at 3.32g/t gold from 167m;

18KLRC104
13m at 1.24g/t gold from 104m; and

18KLRC104
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.

 

Website: www.calidus.com.au

 

Calidus Resources Produces Encouraging Metallurgical Results from Klondyke

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) released results of metallurgical testing carried out at the Klondyke project located at the company’s Warrawoona gold project in the Pilbara of Western Australia.

Calidus Resources said the metallurgical testwork results are consistent with the company’s expectations as it continues to advance the Warrawoona project towards a pre‐feasibility study.

The testwork produced highlights, including:

Excellent gold recovery characteristics with similar testwork response from oxide and fresh ores;

Greater than 96 per cent cyanide leach recoveries at relatively coarse grind (80% passing 150 microns) and 24‐hour leach;

High gravity recoverable gold of 63 per cent;

Exceptionally low reagent consumption (average sodium cyanide 0.17 kilograms per tonne, lime 0.74kg/t); and

Ore characteristics well suited to conventional crushing and ball milling.

“These metallurgical results position Calidus very favourably as we progress towards the commencement of the pre‐ feasibility study to evaluate the development options for the Klondyke project,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“Attractive resource grade, geometry well suited to open pit mining and simple ore processing with high gold recoveries and low reagent consumption could underpin Klondyke as a low operating cost mine in Western Australia.”

The Klondyke deposit forms part of the Warrawoona Gold Belt, which was the initial focus for Calidus, and hosts a current JORC resource of 654,000 ounces at 2.06 grams per tonne gold and forms part of the global resource 712,000 ounces at 2.12g/t gold.

 

Email: info@calidus.com.au

Website: www.calidus.com.au