30 November 2017
Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining
Keras Resources plc ('Keras') Calidus announces high grade interceptsKeras Resources plc, the AIM listed mineral resource company, is pleased to provide an update following an announcement published by Calidus Resources Limited ('Calidus'). Calidus has announced significant diamond drilling results from Klondyke, Copenhagen, Coronation and Fieldings Gully that confirm the presence of high-grade gold at all of Calidus' prospects located in the Pilbara of Western Australia, with Calidus to commence an accelerated drilling programme imminently. In addition, a tenement application located contiguous to the current Novo Resources Corp (Novo) JV tenements has been added to the JV arrangement.
HIGHLIGHTSVisible gold observed during geological logging confirmed by high-grade assays in all three core holes drilled at Klondyke;
Wide high-grade mineralisation confirmed in core drilling at the Copenhagen, Coronation and Fieldings Gully satellite deposits, all within 10km of Klondyke;
Significant intercepts include:
Klondyke 17KLDD001: 25m @ 3.41g/t Au from 88m
Copenhagen 17CPDD001: 6m @ 7.74g/t Au from 70m
17CPDD002: 4m @ 7.46g/t Au from 56m
Coronation 17CRDD001: 10m @ 3.31g/t Au from 108m
Fieldings Gully 17FGDD001: 10m @ 9.68g/t Au from 85m
Preparations for extensional drilling at Klondyke East, Fieldings Gully and Copenhagen commenced, aim to complete by end of year; and
Further tenement application with extensive soil anomaly added to the Novo JV.
With drilling due to commence again imminently and the resource upgrade on track for delivery this year, Calidus continues to aggressively define this large, shear hosted gold project which they believe will support a stand-alone gold development in the future."
To view a full version of the Calidus announcement, which includes figures and maps, please click here:
http://www.asx.com.au/asxpdf/20171130/pdf/43pr345nty57zr.pdf
Keras currently holds a 217.25m shares in Calidus, which will increase to 723.75m shares as and when Calidus meets certain exploration milestones. It is the intention of Keras to in-specie distribute these shares to Keras shareholders at the appropriate time when this is achieved.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
**ENDS**
For further information please visit www.kerasplc.com, follow us on Twitter @kerasplc or contact the following:
dave@kerasplc.com | ||
Dave Reeves | Keras Resources plc | |
Nominated Adviser | ||
Gerry Beaney/David Hignell/Jamie Spotswood | Northland Capital Partners Limited | +44 (0) 20 3861 6625 |
Broker | ||
Damon Heath/Erik Woolgar | Shard Capital Partners LLP | +44 (0) 20 7186 9952 |
Tom Curran/Ben Tadd | SVS Securities Plc | +44 (0) 203 700 0093 |
Keras Resources plc published this content on 30 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 November 2017 08:11:04 UTC.
Original documenthttp://www.kerasplc.com/documents/171130DiamondDrillResults.pdf
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