Calidus Resources (ASX: CAI) has received robust assay results from infill drilling at the Klondyke deposit within its Warrawoona Gold Project in Western Australia.
Managing Director, Dave Reeves, said drilling continues to intersect wide high- grade zones within the planned open pit.
These results from the shallow lodes are well above the current Reserve grade of 1g/t and demonstrate excellent continuity of mineralization,” he said.
“With the recent completion of project funding, we will commence main project construction this quarter. I look forward to updating shareholders on progress as we progress to first gold at Warrawoona.
Results from the infill drilling include:
- 2 m @ 44.55 g/t Au from 11m; incl. 1m @ 88.65g/t from 10m
- 21m @ 2.29 g/t Au from 2m; incl. 2m @ 9.37 g/t Au from 2m
- 19m @ 2.31 g/t Au from 5m
- 32m @ 1.31 g/t Au from 15m
- 17m @ 2.15 g/t Au from 36m; incl. 1m @ 23.9 g/t Au from 39m
- 18m @ 1.78 g/t Au from 36m. Mineralisation to EOH
- 26m @ 1.09 g/t Au from 34m
- 6 m @ 3.93g/t Au from 28m; incl. 1m @ 16.4 g/t Au from 29m
- 9 m @ 2.44g/t Au from 42m Mineralisation to EOH
- 8 m @ 2.31g/t Au from 46m Mineralisation to EOH
- 21m @ 1.23 g/t Au from 21m
The Klondyke deposit lies within mining leases M45/669, M45/547 and M45/670 approximately 25km southeast of Marble Bar. It forms part of the Warrawoona Gold Project and was initially discovered during the Pilbara gold rushes of the late 19th century when limited small-scale mining was undertaken.
The Klondyke deposit currently contains a Resource of 42.3Mt @ 1.02g/t for 1.4Moz (Measured, Indicated and Inferred) and Ore Reserves (Open Pit and Underground) of 14Mt @ 1.2g/t for 521koz.
In October and November 2020 27 shallow RC holes for 1,595m were drilled.
Mr Reeves said the drilling continues the company’s approach to a de-risking strategy through improving the drilling density and geological understanding in areas of the pit that will be mined in the early years of the updated mining schedule.
As part of this de- risking, the drilling tests the veracity of the current Mineral Resource estimate covering the westernmost end of the Klondyke open pit (Klondyke King).