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Calidus Resources Hits Encouraging Gold at new Satellites

Tuesday, November 14, 2017
THE DRILL SERGEANT: Calidus Resources (ASX: CAI) announced the intersection of encouraging widths and grades of gold mineralisation at the Fielding’s Gully and Copenhagen deposits within the company’s wholly-owned Haoma tenements.

Calidus recently acquired 100 per cent interest in the tenements that are part of its Warrawoona gold project in the East Pilbara district of the Pilbara Goldfield in Western Australia.

A total of nine holes were completed at Fielding’s Gully and 16 holes at Copenhagen.

RC drill results from the recently completed program returned gold intercepts grading greater than 10 gram-metres including:

Fielding’s Gully

17FGRC005
16 metres at 3.52 grams per tonne gold, including 1m at 10.85g/t gold and 1m at 22g/t gold from 71m;

17FGRC006
21m at 1.85g/t gold, including 1m at 10.3g/t gold from 55m;

17FGRC007
8m at 3.97g/t gold from 22m;

17FGRC004
11m at 2.62g/t gold, including 1m at 19.75g/t gold from 25m;

17FGRC003
11m at 2g/t gold from 25m;

17FGRC008
11m at 1.74g/t gold from 28m; and

17FGRC007
7m at 2.42g/t gold, including 1m at 11.97g/t gold from 35m.

Copenhagen

17CPRC009
18m at 4.35g/t gold, including 1m at 13.8g/t gold and 2m at 11.41g/t gold from 46m;

17CPRC002
2m at 8.23g/t gold, including 1m at 10.12g/t gold from 27m; and

17CPRC004
2m at 5.22g/t gold from 56m.

Calidus Resources described the Warrawoona syncline as being one of the largest mafic-ultramafic-hosted goldfields in the East Pilbara Granite Greenstone Terrane.

The company explained how these gold deposits are composed of quartz lodes within three main shear zones: the Klondyke shear zone, the Copenhagen shear zone and the Fielding’s Find shear zone.

“The Fielding’s Gully drill program was designed to provide the initial testing of an extensive gold anomaly defined by shallow historic open hole drilling completed in the 1980’s and 1990’s,” Calidus Resources managing director Dave Reeves said in the company’s announcement to the Australian Securities Exchange.

“These assay results confirm the presence of a large mineralised system over 300 metres of current strike length with all holes intersecting zones of quartz veining in mafic and ultramafic schists similar to that observed at the Klondyke deposit approximately 10 kilometres to the east.

“Mineralisation at Fielding’s Gully outcrops and remains open along strike and at depth and will be followed up in future drill programs.

“The Copenhagen drill program was designed to test extensions along strike and to investigate a possible parallel lode that had been defined to a limited degree in previous drilling.

“The results show that the main Copenhagen orebody is plunging to the east and remains open.

“We plan to systematically follow the plunge of this high-grade orebody downdip in the next drill campaigns.”



Email: info@calidus.com.au


Website: www.calidus.com.au