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KRS Keras Resources Plc

2.70
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Keras Resources Plc LSE:KRS London Ordinary Share GB00BMY2T534 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.70 2.60 2.80 2.95 2.70 2.95 7,693 08:00:04
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Iron Ores 994k -1.08M -0.0134 -2.01 2.16M

Keras Resources PLC Calidus announces multiple new gold targets (3244X)

23/11/2017 7:01am

UK Regulatory


Keras Resources (LSE:KRS)
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TIDMKRS

RNS Number : 3244X

Keras Resources PLC

23 November 2017

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

23 November 2017

Keras Resources plc ('Keras')

Calidus announces multiple new gold targets

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 completed an initial review of its recently expanded land holdings and has generated numerous high priority gold targets.

HIGHLIGHTS

-- ASTER imagery received, initial review shows main Klondyke gold bearing structure readily identified via alteration signature;

-- CSIRO initial structural geology site visit highlighted that the Klondyke area has high potential to host deposits that extend at depths significantly greater than the current resource;

-- Hyperspectral and XRF commenced on drill core and chips with CSIRO mineral vector work planned for 2018. Aimed at supporting rapid assessment of ground holdings using ASTER imaging signatures and portable XRF (pXRF) by Calidus staff;

-- Initial review of Novo Resources' area shows numerous targets including Klondyke East and recently worked mines such as Trump;

-- Review of potential conglomerate-bearing horizons on Calidus ground confirms 41km of prospective outcrop; and

-- Initial geological mapping and prospecting confirms presence of conglomerates and flat gold nuggets (up to 1cm in diameter) at one location with further work underway.

Appointment of Exploration Manager

-- Experienced Exploration Manager - Mr Brenton Siggs appointed by Calidus to accelerate review of extensive holdings and priority shear and conglomerate targets

Dave Reeves commented, "I am very pleased to report on the on-going regional exploration activities of Calidus. With a growing resource base at Klondyke, to have such a suite of exciting regional projects highlights the large potential of this area. With the assistance of the CSIRO, Calidus are getting a clearer picture of oreshoot control and methods that will allow them to rapidly and inexpensively explore the majority of their landholding. This, combined with extensive conglomerate outcrops, which are readily accessed from existing roads, provides Calidus with numerous high ranking targets for the year ahead. With such a large amount of opportunity, Calidus has recently employed Brenton Siggs, a highly experienced Exploration Manager, to accelerate regional greenfields exploration of the wider tenure, whilst the current team continue to focus on resource expansion around known deposits."

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

http://www.asx.com.au/asxpdf/20171123/pdf/43phc24rf86w3n.pdf

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

Glossary of Technical Terms

 
 ASTER           Advanced Space-borne Thermal Emission 
                  and Reflection Radiometer 
--------------  -------------------------------------- 
 CSIRO           Commonwealth Science and Industrial 
                  Research Organisation 
--------------  -------------------------------------- 
 Hyperspectral   A spectral imaging process that 
                  collects and processes information 
                  from across the electromagnetic 
                  spectrum in order to identify 
                  objects, materials or processes 
--------------  -------------------------------------- 
 XRF             X-ray fluorescence, a process 
                  whereby electrons are displaced 
                  from their atomic orbital positions, 
                  releasing a burst of energy that 
                  is characteristic of a specific 
                  element. 
--------------  -------------------------------------- 
 

**ENDS**

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

 
Dave Reeves                                  Keras Resources plc                  dave@kerasplc.com 
Nominated Adviser 
Gerry Beaney/David Hignell/Jamie Spotswood   Northland Capital Partners Limited   +44 (0) 20 3861 6625 
Broker 
Damon Heath/Erik Woolgar                     Shard Capital Partners LLP           +44 (0) 20 7186 9952 
Tom Curran/Ben Tadd                          SVS Securities Plc                   +44 (0) 203 700 0093 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCOKNDPPBDKQDB

(END) Dow Jones Newswires

November 23, 2017 02:01 ET (07:01 GMT)

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