Subscribe
Be the first with the news that moves the market- Calidus Resources’ (CAI) latest drilling results highlight the potential for an open-pit operation at its Blue Spec East prospect in the Pilbara
- The company received results from a reverse circulation drilling campaign conducted during December and January, outside the current Blue Spec feasibility study
- Calidus says the results better define the shape of previously identified intersections and determine the known mineralisation at depth continues to near the surface where it may host the potential for an open-pit resource
- Meanwhile, an initial drilling program at Marble Bar demonstrates the presence of shallow high-grade gold down-dip from old workings, which the company plans to further explore
- Calidus Resources last traded at 81 cents on June 1
Calidus Resources’ (CAI) latest drilling results reportedly highlight the potential for an open-pit operation at its Blue Spec East prospect in the Pilbara, Western Australia.
The company has received results from a reverse circulation drilling campaign conducted during December and January. These assays come from outside the current Blue Spec feasibility study, which aims to increase production at the nearby Warrawoona Project to 130,000 ounces per annum.
The results include 52 metres at 1.4 grams of gold per tonne (g/t gold) from 22 metres and 20 metres at 1.41 g/t gold from 44 metres.
Calidus said the results “better defined” the shape of previously identified intersections and determined the known mineralisation at depth continued to near the surface where it may host the potential for an open-pit resource.
Calidus Managing Director Dave Reeves said the assays demonstrated there was the opportunity for additional mine life at Blue Spec beyond the current resource.
“In addition, anomalous gold results from a parallel shear are encouraging for the wider area where targeted soil sampling is scheduled to begin shortly,” Mr Reeves said.
Meanwhile, an initial drilling program at Marble Bar demonstrated the presence of shallow high-grade gold down-dip from the old workings.
Drilling was said to confirm the down-dip extension of the Marble Bar quartz reef, returning high-grade intercepts including two metres at 8.03 g/t gold from 22 metres.
Calidus said it planned to follow up on these results with further drilling, as this area may provide additional high-grade ore to Warrawoona given its proximity to the processing plant.
Calidus Resources last traded at 81 cents on June 1.
