RE: Resource upgrade5 Feb 2019 22:17
Calidus Managing Director Dave Reeves commented,
“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.”
“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