As I mentioned in my earlier post, gold juniors prospect depends...

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    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
 
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