Calidus Resources (ASX:CAI) has outlined over 800m of strike length of the known mineralisation at its Coronation deposit in the Pilbara region.
Calidus Managing Director Dave Reeves said strong drilling results from the Coronation drilling campaign was part of the company’s two-pronged strategy of creating value through exploration at the same time as developing its Warrawoona Gold Project.
Coronation is just 8km from Warrawoona and is emerging as a potential satellite ore source,” Mr Reeves said.
“The infill drilling at Coronation has effectively doubled the strike length of the resource envelope, with mineralisation now traced over 800m length and to a depth of up to 150m.
“The deposit is open to the south-east and at depth, so that gives us further confidence of additional exploration success and the possibility of adding the first of many satellite deposits to feed into the Warrawoona development which could potentially extend mine life and increase production.”
Latest results from Coronation include:
- 14m @ 3.77 g/t Au from 52m;
- 6m @ 2.15 g/t from 30m;
- 3m @ 4.00 g/t Au from 54m;
- 3m @ 2.91 g/t Au from 36m;
- 5m @ 1.59 g/t Au from 22m;
- 4m @ 1.85 g/t Au from 2m; and
- 2m @ 3.08 g/t Au from 76m.
The Coronation deposit lies within mining lease M45/672, approximately 15km SE 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. Mineralisation at Coronation is hosted in quartz pyrite stringers within hydrothermally altered quartz–sericite schist, and chert and BIF horizons.
Modern exploration commenced in the in the early 1980s, with a joint venture between Seltrust Mining Corporation, A1 Consolidated and Monarch Petroleum. The JV undertook surface mapping, rock-chip sampling and a number of shallow percussion holes confirming the presence of gold mineralisation with a strike length over 1,000m to a depth of 20m.
Calidus’ maiden Mineral Resource estimate was completed in November 2018, with 478kt @ 2.19g/t for 33.6Koz of Inferred Mineral Resource.
In October 2020, 29 RC holes, designed at a nominal spacing of 20m x 20m (along strike and down dip, were drilled to test the potential to extend the current Mineral Resource along strike to the southeast).
Ore-grade gold mineralisation is present from surface over a strike length now of approximately 800m to a depth of 150m from surface. It remains open at depth and along strike to the southeast where sparse drilling and surface mapping suggest the mineralised structure continues.
These new results will form the basis of an updated Mineral Resource estimate which should upgrade confidence in the current Mineral Resource from Inferred to Indicated.