Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Managing Director Dave Reeves said: “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.
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.
Just what we want to hear..
Intercepts of up to 107g/t to underpin Resource upgrade for Calidus
Second rig planned as part of expanded drilling program aimed at expanding mine life
HIGHLIGHTS
• Infill drilling inside and adjacent to the Pre-Feasibility Study (PFS) Klondyke open pit shells delivered outstanding results which include:
• 13m @ 11.1g/t Au from 30m, incl 1m @ 107.16g/t Au from 36m
• 13m @ 5.58g/t Au from 46m
• 10m @ 6.81g/t Au from 47m, incl 1m @ 50.77g/t Au from 49m
• 22m @ 2.13g/t Au from 19m
• 5m @ 3.16g/t Au from 126m
• As a sequential step following the positive results delivered in the PFS (announced 17 July 2019), emphasis has now been placed on upgrading the category of the resource to allow additional reserves to be declared
• The results will also provide detailed knowledge of the orebody for accurate grade modelling
• To achieve this, a 12,000m drilling programme is now underway
http://www.investi.com.au/api/announcements/cai/7b3e2729-ff0.pdf
I like this bit but hopefully we get our CAI shares before it happens...
Now if we're in production we certainly wouldn't be a 50 million dollar company and that's where I see the real upside coming over the next six months.
Discussions remain ongoing with potential off-takers to provide both development funding to expand the existing 6,500 saleable tonnes per month operational infrastructure and for an off-take agreement for future ore produced at Nayega
Just need the license...