Calidus Resources confirms high grade gold across Pilbara prospects

Calidus Resources ASX CAI gold Pilbara prospects

Calidus Resources (ASX: CAI) has struck gold grading up to 9.6 grams per tonne at its Pilbara prospects in Western Australia.

A diamond drilling program comprising seven holes has uncovered gold at Klondyke, Copenhagen, Coronation and Fieldings Gully, part of the Warrawoona project which is 150km south east of Port Hedland and 25km from Marble Bar.

The highest-grade intersection of 10m grading 9.68g/t gold was from the Fieldings Gully prospect.

Meanwhile Klondyke revealed the widest intersection of 25m grading 3.41g/t gold, with Copenhagen returning 6m grading 7.74g/t gold and Coronation providing 10m grading 3.31g/t gold.

“We have successfully intersected multiple high-grade gold intercepts at all of our satellite deposits drilled to date, in addition to a wide high-grade zone in the middle of the Klondyke resource,” Calidus managing director Dave Reeves said.

“This ongoing regional exploration in proximity to Klondyke continues to reveal exception results which provides further support for the potential for significant new discoveries and additional resource ounces at Klondyke and within the existing tenement portfolio,” he said.

Based on these results, Mr Reeves added the company had expanded its drilling program to target extensions at Fieldings Gully and Copenhagen, with the program due to start by Friday.

The Warrawoona gold project has an existing JORC resource for Klondyke of 5.6 million tonnes grading 2.08g/t gold for 374,000 ounces of contained gold.

Meanwhile the Copenhagen prospect has an inferred resource of 180,000t grading 6.1g/t gold for 36,000oz gold.

According to Calidus, the Warrawoona gold tenements host more than 200 shallow historical gold workings.

The company claims previous fragmented ownership of the tenements has hampered the area’s development.

In late September, Calidus secured a joint venture with Novo Resources (TSXV: NVO) for Klondyke East, which is adjacent to Warrawoona and returned gold grading up to 5.58g/t in previous exploration.

Calidus is earning a 70% interest in Klondyke East and several tenements totalling 184 square kilometres by spending A$2 million on exploration during the next three years.

Shares in Calidus were up more than 5% to A$0.04 in early morning trade.

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