- Calidus Resources (CAI) commences drill testing priority greenfields gold targets at its Warrawoona and Blue Spec deposits
- The drilling will reportedly determine the potential of shallow gold mineralisation
- A definitive feasibility study (DFS) is also “well advanced” at Blue Spec deposit, which is aimed at increasing the Warrawoona production rate
- Shares are trading steady at 60 cents
Calidus Resources (CAI) will commence drill testing priority greenfields gold targets at its Warrawoona and Blue Spec deposits.
The drilling will determine the potential shallow gold mineralisation at Blue Spec East and the company said it will also test high-grade gold in quartz reefs at Marble Bar.
The Warrawoona site is continuing to make progress on construction ahead of mill commissioning says the company. A zone of shearing in the area is up to 50 metres wide and was reportedly traced for nearly four kilometres along strike.
Meanwhile, the Blue Spec project recently reported assays which are awaiting laboratory results. The site comprises of two granted mining leases, two granted exploration licenses and one prospecting license.
The company said results from a stream sediment sampling program over part of the Blue Spec project are expected shortly.
A definitive feasibility study (DFS) is also “well advanced” at Blue Spec, which is aimed at increasing the Warrawoona production rate to around 130,000 ounces per annum.
First production at Warrawoona is reportedly on track for June quarter next year with the project set for initial production of approximately 90,000 ounces per annum.
Shares were trading steady at 60 cents at 1:45 pm AEDT.