Search Share Prices
Keras turns in 'encouraging' results from Western Australian drill programmes
AIM-listed mineral resource company Keras Resources has turned in another set of encouraging exploration results following recent depth extensions below its Klondyke Resource in Western Australia.
Deep diamond drilling extends gold mineralisation at Klondyke, part of the company's Warrawoona Gold Project in the Pilbara of Western Australia, 150m down dip of previous drilling to 370m, resulting in a significant intercept of two metres at 6.01 grams of gold per tonne, including one metre of 9.39g per tonne.
Keras said a Klondyke reverse cycle resource drill-out was progressing well, with first results due within four weeks.
Elsewhere, Calidus Resources, of which Keras is a significant shareholder, has confirmed further high-grade results from its Coronation Prospect.
Initial reconnaissance drilling at the Coronation target defined a high-grade strike of 250m with significant intercepts of ten metres of 3.84g of gold per tonne, including one metre of 30.4g per tonne and rock chips of up to 114.7grams per tonne on the site's surface.
Russell Lamming, chief executive officer of Keras, said: "With a target of defining a JORC Compliant resource of +1 million ounces by the end of 2018, and consistently encouraging exploration results such as these reported today, we are confident in Calidus' ability to deliver PFS for a 100,000oz/pa mining project at Warrawoona."
As of 0920 BST, Keras shares had lost 1.31% to 0.37p.