Calidus Resources has reported another impressive series of shallow, high-grade gold hits from its Warrawoona project south of Marble Bar, including a six metre intersection grading 21.47 g/t gold.
The latest results are from high-grade satellite prospects, Copenhagen and Fieldings Gully and suggest the aggressive gold explorer is on its way to reaching its target mineral resource of more than 1 million ounces of gold.
In December, the company reported a 74% jump in its mineral resource from 410,000 ounces to 712,000 ounces from a maiden drill program within just six months of listing. With an average grade of 2.11 g/t gold, Warrawoona is shaping up as one of the higher-grade open pit projects in the country.
The latest results are from a 15-hole RC program of 2,056 metres that occurred late in 2017.
The impressive 6 metre intersection grading 21.47 g/t was from 131 metres down-hole at Copenhagen, however it was only one of half a dozen lucrative looking, shallow intercepts from five different holes.
These include 2 metres at 17.99 g/t gold, 4 metres at 9.57 g/t and 1 metre at over an ounce to the tonne grading over 38.1 g/t, all from the Copenhagen prospect.
The Fieldings Gully prospect also didn’t fail to impress with a best intercept of 7 metres at 5.66 g/t from a depth of only 63 metres.
Calidus Managing Director, Dave Reeves, said: “The latest high-grade results continue to highlight that the underexplored Warrawoona area is emerging as a significant gold project within the Pilbara region of Western Australia. Calidus decided to rapidly follow-up outstanding assays at Fieldings Gully (16m @ 3.52g/t Au) and Copenhagen (18m @ 4.35g/t Au) drilled late last year and results continue to impress at both deposits. The Fieldings Gully and Copenhagen prospects contain significant potential to further grow the project’s Mineral Resource base and we will be undertaking further drilling in Q2 to target this outcome.”
Copenhagen and Fieldings Gully are within 15kms of the company’s flagship Klondyke deposit and located on quartz-gold-hosting shear zones associated with the regional-scale shear hosting the Klondyke resource.
The latest drilling at Copenhagen has confirmed the presence of a broad, high-grade ore-shoot that plunges to the northeast and remains open. At Fieldings Gully, Calidus has now defined mineralisation over a strike length of 325 metres with the prospect remaining open in all directions.
There appears to be plenty of blue sky left in both prospects as Calidus marches its way towards a million ounce, high grade shallow resource.
Copenhagen has a mineral resource of only 36,000 ounces, albeit at a stunning grade for an open pit resource of 6.1 g/t, while Fieldings Gully has 22,000 ounces at 1.65 g/t.
Calidus will maintain an aggressive pace in 2018 following a $10 million capital raising late last year. In addition to further RC drilling, the company is planning to further explore the Klondyke Deeps prospect in the first quarter of this year to test for high-grade extensions of Klondyke at depths below 400 metres.
