Keras Resources PLC Calidus announces significant regional potential (0996H)

TIDMKRS

RNS Number : 0996H

Keras Resources PLC

08 March 2018

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

8 March 2018

Keras Resources plc ('Keras')

Calidus announces significant regional gold potential

Keras Resources plc, the AIM listed mineral resource company, is pleased to provide an update following an announcement published by Calidus Resources Limited ('Calidus'). Calidus has announced the completion of a Regional Target Generation Study over the Company's East Pilbara Greenstone assets. Geologists are now rapidly following up the highest-priority targets conducting mapping and geochemistry programmes in advance of RAB and RC drilling planned for Q2/Q3 2018.

HIGHLIGHTS

-- Over 45 high-priority exploration targets were identified across Calidus' Warrawoona Project area that will be ranked and evaluated in 2018

   --      Warrawoona tenements have had limited to no regional exploration in the last 30 years 

-- High priority targets include a strong +1 km long geochemistry anomaly where a historic shallow scout drill hole intersected broad zones of mineralisation

-- Drilling programmes now being prepared with the aim of rapidly growing Klondyke's existing JORC 2012-compliant Mineral Resource Estimate of 712koz at at grade of 2.11g/t gold (Au)

-- Geochemistry contractor scheduled for late March, 2018 start to rapidly turnover regional soil sampling programme across high-priority targets

-- pXRF, rockchip sampling and regional field mapping/reconnaissance programmes have been ongoing since January

Dave Reeves commented, "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. 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"

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/d22836d9-de9.pdf

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

**ENDS**

Keras currently holds a 458.375m shares in Calidus, which will increase to 723.75m shares as and when Calidus issues a successful PFS at Warrawoona.

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

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March 08, 2018 03:23 ET (08:23 GMT)