CAI Calidus Resources
Regular drilling updates to be provided over remainder of the year . At the end of the quarter, Calidus and its subsidiaries held $9.9m cash and $1.5m in listed investments . Strong news flow expected for the rest of this year .
Calidus on track to be low-cost 100,000ozpa WA gold producer HIGHLIGHTS
• Highly successful quarter sees Calidus take key steps towards development of its Warrawoona Gold Project in WA’s Pilbara
• Warrawoona Pre-Feasibility Study and Maiden Reserve delivered
• Exploration program delivered a host of strong results, including: o Intercepts of up to 107g/t to underpin Resource Upgrade o Shallow gold intercepts adjacent to Klondyke Open Pit
• New drilling campaign launched to increase mine life
• Key tenure acquired in high-grade Marble Bar Goldfield as part of strategy to grow 1.25Moz Warrawoona Resource Post Quarter:
• Outstanding shallow drill intersections from Klondyke CORPORATE
• Calidus completed $9M placement to institutional investors
Calidus Resources (ASX:CAI) is pleased to report on the strong progress made at its Warrawoona Gold Project in WA during the September 2019 Quarter. It was a highly productive quarter with a number of key developments which ensure the Company is firmly on track to become a low-cost 100,000ozpa producer. Pre-Feasibility Study and Maiden Reserve for Calidus’ Warrawoona Project On 17 July 2019, Calidus announced a Maiden JORC Reserve and results of the Pre-Feasibility Study (PFS) for Warrawoona. The PFS demonstrates that Warrawoona will be a robust gold project based on a Maiden Probable Reserve of 418,000oz underpinning an estimated initial sixyear mine life producing ~100,000ozpa with a Life-of-Mine All-in Sustaining Cost of ~A$1,159/oz.
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CAI Calidus ResourcesRegular drilling updates to be provided...
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