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calidus resources ltd (CAI) Details

Calidus Resources Limited explores for gold properties. Its flagship property is the Warrawoona Gold project located in the East Pilbara district of the Pilbara Goldfield in Western Australia. The company was incorporated in 1986 and is based in Perth, Australia.

Founded in 1986

calidus resources ltd (CAI) Top Compensated Officers

MD & Director
Total Annual Compensation: A$204.0K
Geology Manager
Total Annual Compensation: A$196.2K
Compensation as of Fiscal Year 2018.
calidus resources ltd
Calidus Resources Limited Announces Maiden JORC Reserve for its Warrawoona Gold Project in Western Australia's Pilbara Region

Calidus Resources Limited announced the Maiden JORC Reserve and results of the Pre- Feasibility Study (PFS) for its Warrawoona Gold Project in Western Australia's Pilbara region. The PFS demonstrates that Warrawoona will be a robust gold project based on a Maiden Probable Reserve of 418,000oz underpinning an estimated initial six-year mine life producing ~100,000ozpa with a Life-of-Mine All-in Sustaining Cost of ~AUD 1,159/oz. Importantly, Calidus emphasises that it has adopted a conservative approach to the project, including the assumptions used in its resource and reserve models and a further planned continued drill-out, which is aimed at minimising the mining risks as the project moves into Bankable Feasibility Stage.

Calidus Acquires Key Tenure in High-Grade Marble Bar Goldfield as Part of Strategy to Grow 1.25Moz Warrawoona Resource

Calidus Resources Limited announced that it has completed the purchase of tenement E45/5172, which covers most of the historic Marble Bar Goldfield located just 25km from its Warrawoona gold project in WA's Pilbara region. The Company has also purchased the remaining 50% of tenement E45/4843, which covers the historic Salgash mining area of the Warrawoona Goldfield, and has earned 70% of the Novo tenements, which comprise tenements E45/3381, E45/4666, E45/4622, E45/4194, P45/2781, E45/4934. This represented the final outstanding payments on existing tenement agreements. It also marked the completion of the current consolidation program at Warrawoona, which was aimed at growing the project's existing 1.25Moz Resource. Calidus has signed binding agreements previously to acquire the final 50% of tenement E45/4843 and 100% of tenement E45/5172 for a total consideration of $95,000 and 1,860,000 shares. This agreement has been re-negotiated to help preserve cash for exploration and as such a revised amount of $55,000 and 5,000,000 shares will be issued to Epminex for the completion of these purchases. A total of 13 historic holes have been drilled on the tenement for 253m, with Calidus now undertaking a review of the available data. This highlights the untested nature of the tenement and why it will be investigated more thoroughly in the coming year by Calidus. Under the terms of the previously announced earn-in on the Novo tenements (E45/3381, E45/4914, E45/4622, E45/4666, E45/4934 and P45/2781), Calidus had to spend $2m over three years on the tenements to earn to 70%. This has now been completed. Discussions are on-going with Novo on whether it wishes to co-fund further expenditure on these tenements or dilute its holding further. Under the terms of the agreement, if Novo dilutes below 10%, its holding will be reduced to 0 and replaced with a 1% net smelter returns royalty.

Calidus Resources Limited Announces First Assays from a 42-Hole RC Drilling Programme at Warrawoona Gold Project in the Pilbara Region of Western Australia

Calidus Resources Limited announced first assays from a 42-hole RC drilling programme at its Warrawoona gold project in the Pilbara region of Western Australia. The results, which are from infill drilling, are important because they confirm the continuity of the western part of the main Klondyke Resource model at Warrawoona. The Warrawoona syncline is one of the largest greenstone-hosted goldfields in the East Pilbara, Western Australia. The currently explored gold deposits are composed of quartz lodes within three main regional shear zones: the Klondyke shear zone, the Copenhagen shear zone and the Fielding's Find shear zone. These sub-vertical shear zones present major networks of quartz/calcite/sulphide/ankerite veins and are locally lined with heavily brecciated fuchsite-sericite-pyrite bearing mafic rocks. Visible gold is often observed in quartz veins throughout the mineralized package. Klondyke Resource Infill Drilling Programme Results for an initial 10 RC holes for 1,222m of a larger 42-hole RC programme representing 4,967m have been received. 35 RC drill holes representing 4,053m were drilled within the current Klondyke/St George pit designs, as well as 4 hole for 722m drilled to test the Highway Shear chargeability anomaly. In addition, 3 RC holes were completed for 192m across the Chance prospect at Klondyke West as part of the larger regional programme after the truck-mounted air-core rig drilling that programme was unable to access the drill pads due to the steep topography. Free-milling gold mineralization at Klondyke includes broad zones of moderate-grade sericite and fuchsite-altered mafic lithologies and localized pods of high-grade boudinaged quartz vein style mineralization. Mineralization remains open in all directions and further drilling is planned to target higher-grade zones at depth within the system. 13 holes for 1,684m were drilled into the western side of the current Klondyke pit design and assay received for the initial 10 holes have confirmed the expected continuity and tenor of mineralization. Intercepts include the following: 13m @ 1.58g/t Au from 28m in 19KLRC209; 12m @ 1.52g/t Au from 66m in 19KLRC203; 5m @ 2.85g/t Au from 2m in 19KLRC213; 7m @ 1.90g/t Au from 86m in 19KLRC205; and 6m @ 2.06g/t Au from 71m in 19KLRC206 Drilling on the eastern side of the Klondyke pit design was planned to increase confidence in the resource model in anarea that was previously poorly constrained by drill density. These samples are currently undergoing assay and all results will be reported once received. Klondyke Resource Costeaning Programme As part of the Company's ongoing data review, historic costeaning data was examined in detail. During 1994, Conzinc Riotinto of Australia (CRA) optioned a number of the tenements in the Warrawoona area including the main Klondyke line of workings. CRA's Exploration division (CRAE) subsequently carried out exploration activities during this period including rockchip sampling, channel and costean sampling, and geological mapping, thus demonstrating the efficacy of trenching across the deposit as a valid exploration tool. During CRA's Exploration division programme, the tenement lying in the heart of the current resource was owned independently so was not sampled during this campaign. Calidus has now trenched and sampled this area to ensure continuous costean sampling across an initial 2.5km of continuous outcropping resource, refer Figure 2. All eight costeans show the same pattern of alteration as the resource drill holes in the same area. Kopcke's leader was identified in the majority of the costeans other than 19KLTR005, in which fill obscures the likely location of the leader unit, and 19KLTR006, in which the unit may have been pinched out in the heavily sheared and boudinaged lithologies. Samples have now been shipped to the NAGROM laboratory in Perth and results will be announced in due course. Next Steps: A Pre-Feasibility Study is well underway with completion expected July; a structural review has been completed of high-grade ore-shoot controls and results will be announced once the final report is received; assays for the remainder of outstanding air-core holes will be reported upon reception; the current round of RC infill drilling at Klondyke is now complete and outstanding assays will be reported upon reception; and planning is underway for the next round of drilling on and around the immediate Klondyke resource area.


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