Keras Resources PLC Calidus - Driling results at Satellite Deposits (4148W)

TIDMKRS

RNS Number : 4148W

Keras Resources PLC

14 November 2017

Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining

14 November 2017

Keras Resources plc ('Keras')

Calidus announces high grades intersected at Satellite Deposits

Keras Resources plc, the AIM listed mineral resource company, is pleased to provide an update following an announcement published by Calidus Resources Limited ('Calidus'), in which Keras currently holds a 217.25m shares, which will increase to 723.75m shares as and when Calidus meets certain exploration milestones. Calidus has announced that it has intersected significant widths and grades of gold mineralisation at the Fielding's Gully and Copenhagen deposits that are now wholly owned, following the recently completed purchase of the Haoma tenements. Calidus has now received all reverse circulation (RC) drill results from the recently completed programme.

HIGHLIGHTS

Significant gold intercepts grading greater than 10 gram-metres include:

Fielding's Gully

   --           16m @ 3.52g/t Au (incl 1m @ 10.85g/t and 1m @ 22.0g/t) from 71m in hole 17FGRC005. 
   --           21m @ 1.85g/t Au (incl 1m @ 10.3g/t) from 55m in hole 17FGRC006 
   --           8m @ 3.97g/t Au from 22m in hole 17FGRC007 
   --           11m @ 2.62 g/t Au (incl 1m @ 19.75g/t) from 25m in hole 17FGRC004 
   --           11m @ 2.00g/t Au from 25m in hole 17FGRC003 
   --           11m @ 1.74g/t Au from 28m in hole 17FGRC008 
   --           7m @ 2.42g/t Au (incl 1m @ 11.97g/t) from 35m in hole 17FGRC007 

Copenhagen

   --           18m @ 4.35g/t Au (incl 1m @ 13.8g/t and 2m @ 11.41g/t) from 46m in hole 17CPRC009 
   --           2m @ 8.23g/t Au (incl 1m @ 10.12g/t) from 27m in hole 17CPRC002 
   --           2m @ 5.22g/t Au from 56m in hole 17CPRC004 

A total of 9 holes for 596m was completed at Fielding's Gully and 16 holes for 1,186m at Copenhagen.

Dave Reeves commented, "The Fielding's Gully drill programme was designed to provide the initial testing of an extensive gold anomaly defined by shallow historic open hole drilling completed in the 1980's and 1990's. These assay results confirm the presence of a large mineralised system over 300m of current strike length with all holes intersecting zones of quartz veining in mafic and ultramafic schists similar to that observed at the Klondyke deposit approximately 10kms to the east. Mineralisation at Fielding's Gully outcrops and remains open along strike and at depth and will be followed up in future drill programmes.

The Copenhagen drill programme was designed to test extensions along strike and to investigate a possible parallel lode that had been defined to a limited degree in previous drilling. The results show that the main Copenhagen body of mineralisation is plunging to the east and remains open. Calidus plan to systematically follow the plunge of this high-grade body of mineralisation down dip in the next drill campaigns".

To view a full version of the Calidus announcement, which includes figures and maps, please click here:

https://www.investi.com.au/api/announcements/cai/ed006372-0f5.pdf

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

**ENDS**

For further information please visit www.kerasplc.com, follow us on Twitter @kerasplc or contact the following:

 
Dave Reeves                                  Keras Resources plc 
                                                                                   [e-mail] 
Nominated Adviser 
Gerry Beaney/David Hignell/Jamie Spotswood   Northland Capital Partners Limited   [phone] 
Broker 
Damon Heath/Erik Woolgar                     Shard Capital Partners LLP           [phone] 
Tom Curran/Ben Tadd                          SVS Securities Plc                   [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 14, 2017 02:01 ET (07:01 GMT)