23rd Aug 2018 11:22
LONDON (Alliance News) - Keras Resources PLC on Thursday said investee Calidus Resources Ltd has found a new gold strike at the Warrawoona project in Australia.
Calidus' new discovery is over 1,000 metres in length, and is located at the St George's Shear prospect at Warrawoona. It is 150 metres north of Calidus' current 654,000 ounces Klondyke resource.
Results include 8 metres at 3.9 grammes of gold per tonne of ore from surface, 11 metres at 1.5 g/t gold from 28 metres, and 6 metres at 2.3 g/t gold from 88 metres.
Keras has a 35% stake in Calidus, which will increase to approximately 56% once Calidus completes a pre-feasibility study at the project.
Keras shares were 10% higher Thursday at 0.41 pence each.
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