Calidus adds to Warrawoona resource
PERTH (miningweekly.com) – ASX-listed junior Calidus Resources has increased its Warrawoona gold project’s mineral resource by 75%, to 1.25-million ounces.
The total Joint Ore Reserves Committee-compliant resource for the Western Australian project now stands at 21.2-million tonnes, grading 1.83 g/t gold for 1.25-million ounces.
“To effectively triple our high-grade resource base to 1.25-million ounces within 18 months of listing highlights the unique attributes of the major gold system at Warrawoona,” said Calidus MD Dave Reeves.
“Given the shallow and high-grade nature of the resource and its prime location in proximity to high-quality infrastructure and a number of operating mines, Warrawoona has rapidly emerged as a highly-valuable asset which we believe will clearly justify the development of a standalone mining and processing operation.”
Reeves said that the updated resource estimate would underpin a prefeasibility study, which was due for completion by the third quarter of this year, and a subsequent bankable feasibility study, as Calidus continued its strategy to become a low-risk, near-term producer.
“There is obvious opportunity to grow the mineral resource along strike and at depth, plus we will evaluate and test a number of regional prospects in 2019, which have excellent potential to generate shallow ounces that could be included within the overall mineral resource inventory.”
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