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Alliance News

Keras Investee Returns High-Grade Drilling Results From Warrawoona

Thu, 8th Nov 2018 15:09

LONDON (Alliance News) - Keras Resources PLC said Thursday that its investee company Calidus Resources Ltd returned significant high-grade drilling results from the Warrawoona gold project in Australia.

"These results highlight the ability to extend Calidus' current resource area at the Warrawoona gold project in the Pilbara in Western Australia," Keras said.

Among the highlights, the St George high-grade gold zone located 150 metres north of the Klondyke main resource, found 6 metres at 7.61 grams per tonne of gold.

Meanwhile, in-fill drilling at Klondyke East, part of the project, returned 2 metres at 20.84 grams per tonne of gold.

Chief Executive Officer Russell Lamming: "These high grade results from the St George Shear and Klondyke East underpin the prospectivity of the wider Warrawoona Gold Project and the strong potential for the current resource of 712,000 ounces to be materially increased in the near term.

"As 60% of the area is yet to be reported on, we look forward to Calidus delivering results of further drilling at the St George Shear prospect as well as the results of an initial diamond drill programme targeting resources beneath the potential open pit at Klondyke."

Keras currently holds a 32.3% stake in Calidus.

Keras shares were up 2.3% at 0.36 pence each on Thursday.

By Elena Cherubini;

Copyright 2018 Alliance News Limited. All Rights Reserved.

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