Search Share Prices
Keras investee set for gold drilling as study identifies key targets
Mineral resource company Keras Resources' investee Calidus Resources has completed a regional target generation study over its Warrawoona gold project, the company announced on Thursday.
Following the completion of the study, mapping and geochemistry programmes are now underway at over 45 identified high priority targets at the Warrawoona project in Australia, with RAB and RAC drilling now scheduled for Q2 and Q3 of this year.
Keras holds a 31% interest in Calidus through 217m shares, and also holds a total of 507m Performance Shares in the company.
The most advanced target area at the site is the Klondyke target area.
Dave Reeves, director of Keras Resources, said: "Whilst the main focus of Calidus has been on the extensive Klondyke Shear zone over the last six months and increasing the overall mineral resource estimate by 74% to its current 712,000ozs, Calidus have not forgotten about the significant exploration potential within the wider portfolio."
The Warrawoona project has had limited to no exploration over the past three decades but the site will see regional soil sampling accros high priority targets commencing in late March.
"This comprehensive regional study across Warrawoona has generated numerous high conviction prospects with several priority drill targets already identified. Calidus is actively exploring these high-quality targets and are currently accelerating their 50,000m drill programme for the year. We will provide ongoing details as results come to hand," said Reeves.
As of 1631 GMT, Keras Resources' shares were down 9.72% at 0.33p.