ASX-listed gold exploration and development company Calidus Resources (ASX:CAI) reports it has uncovered a new gold discovery following a maiden drilling program about 7km from its Blue Spec Gold Project in Western Australia’s (WA’s) Pilbara region.
The results are reported to correlate strongly with logged and mapped zones of hematite alteration, which highlights the potential for substantial scale for the project.
‘Significant’ intersections returned from assays include: 41m at 2.37g/t Au from 32m including 5m at 3.4g/t Au from 37m and 9m at 3.43g/t Au from 62m (22GORC009).
The maiden RC drilling campaign was conducted to test about 2km of strike length of a zone which is host to strong Au-in-soil anomalies which extends more than 3km along strike associated with the Blue Spec Fault Zone.
Addressing the Au discovery, Calidus Resources Managing Director, Dave Reeves says: “The width, the grade, and the close proximity to Warrawoona makes this an extremely exciting discovery for Calidus.
These early results clearly demonstrate that there is excellent upside in the larger area covered by the soil sampling and is a credit to our exploration team who have systematically progressed this greenfields target.
“These early results clearly demonstrate that there is excellent upside in the larger area covered by the soil sampling…”
The results have provided a compelling reason to expand the initial 20-hole RC program to 32 holes while the drill rig is on site.
Samples from 14 more drill holes are already at the laboratory and we will keep the market updated as we receive more results.”
The company also notes that following the return of these ‘exceptional’ results, another 12 RC drillholes have been added to the original 20-hole program.
In addition, the initial assays have also delivered more confidence in the criteria used for targeting.
Calidus Resources is an ASX-listed gold exploration and development company that controls the 1.7Moz Warrawoona Gold Project, including the Blue Spec project, in WA’s East Pilbara district. The company’s recent maiden drilling was conducted on exploration licence E46/1026, which is located about 11km east-northeast of the township of Nullagine and is considered prospective for mineralisation like that at the company’s Blue Spec mine.
With the first batch of assays from the maiden drilling campaign now received, Calidus Resources announces that samples from another 12 drillholes have arrived at the laboratory.
All samples from the remainder of the holes are expected to be dispatched from site by the start of December this year.
Images: Calidus Resources Ltd & iStock
