Ann: Calidus Grows Resource by 75% to 1.25 Moz, page-24

Information released today has been very encouraging .

“Warrawoona  has  rapidly emerged as a highly valuable asset, which we believe will justify the development of a standalone mining and processing operation,” said Calidus managing director Dave Reeves.In particular, he cited the “shallow and high‐grade nature of the resource, and its proximity to high‐quality infrastructure and a number of operating mines”.

“The updated resource will underpin the pre-feasibility study that is due for completion in [the September quarter of this year] and the subsequent bankable study as we continue our strategy of becoming a low-risk, near-term gold producer,” Mr Reeve said.

With the resource remaining open at depth and along strike, Mr Reeves added there was “obvious opportunity” to grow the estimate.Calidus plans to carry out infill and extensional drilling to add confidence and expand the updated resource.Additionally, reconnaissance drilling will be carried out at high-priority targets in 2019 to uncover higher-grade satellite deposits as a potential ore feed source.