StockMarketWire.com - Keras Resources has noted that its Calidus Resources has committed to a further 5,000m of drilling at the Warrawoona gold project in the Pilbara of Western Australia before the end of this year.

Keras - which holds 217.125m Calidus ordinary shares - said the current drilling campaign was intended to support a significant resource upgrade in Q4 2017 with a large portion of this updated resource estimate forecast to be in the indicated category.

It said that as previously announced, once an indicated resource of at least 500,000oz was declared, it would receive a further 241.25m ordinary shares in Calidus.

It said that Calidus announced the extended programme after receiving further assays at the project.

The announcement from Calidus said:

- Subsequent to receiving outstanding intercepts including 6m @ 63.31g/t Au from 49m in KLRC032 and 27m @ 5.85g/t Au from 90m in KLRC001, Calidus has committed to extending the original 10,000m drilling programme to over 15,000m

- A total of 15,611m has now been drilled at Klondyke and the high-grade satellite targets of Copenhagen, Coronation and Fieldings Gully

- A further 5,000m drilling programme committed to target recently joint ventured Klondyke East area hosting strong gold-in-soil anomalies directly east of Klondyke


At 9:16am: [LON:KRS] Keras Plc share price was 0p at 0.4p



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