Keras Resources plc, the AIM listed mineral resource company, notes the announcement released by Calidus Resources Limited (ASX:CAI), in which it currently holds a c.32.3% interest, regarding an update at the Warrawoona Gold Project in the Pilbara of Western Australia.
Highlights
- On track to complete Pre-Feasibility Study (‘PFS’) at the Project in July 2019
- Low capex, simple layout and processing route indicated
- Open pit mine design based on a base load of a single 2km-long open pit at Klondyke
- Underground investigation below the Klondyke open pit commenced
- Geotechnical investigations completed
- Processing route finalised consisting of a simple primary crush, Semi-Autogenous Grinding (‘SAG’) mill comminution circuit and a gravity gold and conventional carbon-in-leach (CIL) recovery plant
- Valley fill tails dam designed, minimising capital requirements for the tailings storage facility
- Water exploration drilling completed – bore field sites identified near plant
- Final environmental baseline studies being completed in current quarter; submission for permits on track for Q3 2019
Russell Lamming, Chief Executive Officer of Keras, commented, “Calidus is fast-tracking development at the Warrawoona project with completion of its PFS targeted for July 2019. This is extremely positive and serves to underpin the robust economics of this already highly prospective asset, which currently has a 1.25 million-ounce JORC compliant gold resource. Importantly, the PFS is expected to deliver a simple layout and processing route, which highlights the Project’s low capex potential and its ability to generate significant value for shareholders.”
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