Keras Resources PLC High Grade Gold Drill Results from Warrawoona (9821L)

TIDMKRS

RNS Number : 9821L

Keras Resources PLC

25 July 2017

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

25 July 2017

Keras Resources plc ('Keras')

Calidus Reports Further High Grade Gold Drill Results from Warrawoona

Keras Resources plc, the AIM listed mineral resource company, is pleased to provide an exploration update following an announcement published by Calidus Resources Limited ('Calidus'), in which Keras holds a 31% interest. Calidus continues to intercept gold mineralisation across significant widths at its flagship Warrawoona Gold Project, located in the Pilbara of Western Australia.

Highlights of Calidus' announcement:

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

o 2m @ 5.58/t Au from 29m in hole 17KLRC007

o 6m @ 2.26g/t Au from 91m in hole 17KLRC007

o 16m @ 2.62g/t Au from 124m in hole 17KLRC007

o 15m @ 2.04g/t Au from 6m in hole 17KLRC008

o 8m @ 1.43g/t Au from 55m in hole 17KLRC008

o 20m @ 1.47g/t Au from 2m in hole 17KLRC009

o 12m @ 1.45 g/t Au from 8m in hole 17KLRC013

o 14m @ 1.83g/t Au from 8m in hole 17KLRC014

o 6m @ 2.56g/t Au from 61m in hole 17KLRC015

o 6m @ 4.61g/t Au from 82m in hole 17KLRC015

o 10m @ 1.15g/t Au from 72m in hole 17KLRC016

o 5m @ 2.89g/t Au from 150m in hole 17KLRC017

   --     A further 11 RC drill holes received representing 1,186m; 

-- Part of a larger 10,000m programme to be completed in the current quarter, compliant resource expected before the end of the year;

-- Calidus has finalised planning an additional drill programme following the completion of this initial 10,000m campaign. Fieldings Gully to be targeted due to presence of a non-compliant resource open in all directions that can be quickly converted to additional compliant resources. Drilling to be completed this year with a resource update soon after;

   --    A regional targeting exercise is also underway; 

-- Metallurgical test work also commenced on both the Klondyke and Copenhagen deposits. Test work will focus on gravity gold capture upfront before conventional CIL processing due to the high level of visible gold in the deposit; and

-- Environmental works have also commenced to ensure longer lead items required for a future development are being advanced in a timely manner and to minimise any potential delays on the project from a regulatory perspective.

Calidus Managing Director (and Keras Director) Dave Reeves commented, "We have now intersected gold mineralisation in all holes drilled to date which represents almost 20% of the planned drilling and continues to increase our confidence that the gap area will be rapidly converted into a compliant resource later this year. Drilling is progressing well with the gap area drilling now complete and samples being dispatched to the laboratory. The rig is now moving in to infill and twin holes in the existing resource area to either side of the gap areas to assist in the next resource calculation which will cover the 3km of continuous mineralisation that has been drilled to date."

To view a full version of the Calidus announcement, which includes figures and maps, please click here: http://www.asx.com.au/asxpdf/20170725/pdf/43kv9tf25770cw.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      Northland Capital Partners Limited   [phone] 
 
  Broker 
Elliot Hance/Jonathon Belliss   Beaufort Securities Limited          [phone] 
 Damon Heath/Erik Woolgar        Shard Capital Partners LLP           [phone] 
Tom Curran/Ben Tadd             SVS Securities Plc                   [phone] 
Financial PR 
Susie Geliher/Charlotte Page    St Brides Partners Limited           [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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July 25, 2017 02:01 ET (06:01 GMT)