14th Aug 2018 15:39
LONDON (Alliance News) - Mineral resource company Keras Resources PLC on Tuesday confirmed that Calidus Resources Ltd has identified a number of significant gold-in-soil anomalies across its Australian Warrawoona gold project as part of its 2018 soil sampling programme.
Keras holds 35% interest in gold exploration company Calidus.
Keras said Calidus is continuing a large resource infill and extension programme across Warrawoona to expand the current JORC compliant resource of 712,000 ounces and to underpin a planned pre-feasibility study in 2019.
JORC code is the Australasian code for reporting of exploration results, mineral resources and ore reserves.
"The identification of new gold-in-soil anomalies gives further credence to the potential to materially increase the size and scale of Warrawoona's current JORC compliant resource," said Chief Executive Russell Lamming.
Shares in Keras were trading 2.6% higher on Tuesday at 0.359 pence each.
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