Promising Drill Results for Calidus

Calidus Resources has received promising drill results from its Felix prospect, revealing a potential to supply ore to the company’s flagship Warrawoona gold project. The Warrawoona project is located 25km southeast of the town of Marble Bar in the Pilbara.

Drilling was carried out over a small portion of the strike length at close distance. The drilling program tested the potential for Felix to host a shallow mineral resource which would be amenable to open pit mining, with results highly favourable.

An infill and extensional soil sampling program is now underway to determine the extent of mineralisation at the prospect.

The results support Calidus’ strategy to grow the inventory, production and mine life at its Warrawoona Gold Project by defining and developing deposits within trucking distance of Warrawoona.

Warrawoona has a current mineral resource of 43 million tonnes at 1.2 grams per tonne of gold, or 1.66 million ounces. The probable ore reserve is estimated at 600,000 ounces of gold.

The project sold 16,000 ounces of gold in the last quarter, a quarter-on-quarter increase of 35 per cent.