Its Over, page-5585

As I mentioned in my earlier post, gold juniors prospect depends more on mineralogy developments rather than what the gold price does on a day to day basis.

Which is why if we stay invested in gold juniors, we wont miss out on developments like this for CAI.


CALIDUS RESOURCES (CAI)

Blue-Spec Resource of 219,000oz at 16.3g/t Au offers potential to grow production and mine life at Warrawoona

HIGHLIGHTS
• Calidus has signed a binding agreement with Novo Resources Corp. (TSX.V:NVO) for the acquisition of the high-grade Blue Spec Gold/ Antimony Project in the Pilbara region of Western Australia for A$19.5 million cash consideration
• Located within trucking distance (~70km) of the Warrawoona Gold Project
• Established JORC 2012-Compliant Mineral Resources currently undergoing review by Calidus of 415kt @ 16.3g/t Au and 1.3% Sb for 219koz Au and 5.2kt Sb • Strong exploration potential down dip and along strike
• Blue Spec has historical production of ~60koz Au at more than 25g/t Au1
• Strong potential operational and capital cost synergies between Blue Spec and Warrawoona, while maintaining exposure to ongoing exploration potential:
o Focus on increasing production profile, extending mine life and maximising value of planned infrastructure at Warrawoona o Provides flexibility around timing and scheduling of mine operations at Warrawoona
o Calidus can utilise in-house expertise and capacity to fast track development of Blue Spec o Planning to utilise existing infrastructure at Warrawoona, which already includes a sulphide plant for treatment of a high-grade open pit satellite deposit
• Demonstrates Calidus’ commitment to establishing a new regional gold production hub in the East Pilbara district of the Pilbara Goldfield
• Plan to commence a strategic review/ integration study and further metallurgical testwork drilling on completion