LONDON (ShareCast) - (Sharecast News) - A shallow, thick high-grade gold mineralisation has been uncovered at the Copenhagen deposit on the Warrawoona gold project, located in the Pilbara of Western Australia.
Calidus Resources, the project's operator, in which AIM-listed Keras Resources owns a 35% stake, said the results formed part of a resource infill and extension programme aimed at expanding the current resource to underpin a pre-feasibility study in 2019.

Calidus discovered the mineralisation, which extends a further 100m below the current resource, when going over recent drilling results from the Copenhagen deposit.

The eight-hole drilling campaign at Copenhagen returned a sample of ten metres at 12.85 grams of gold per tonne.

Russell Lamming, Keras' chief executive, said: "The Calidus team continue to push forward as planned with the resource expansion at Warrawoona ahead of next year's planned pre-feasibility study."

"These latest results from the Copenhagen deposit continue to highlight the high-grade mineralisation which remains open down plunge and the scalability of the Warrawoona project."

As of 0910 BST, Keras shares had slumped 8.49% to 0.32p.

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