- Mineral resource company Keras Resources said that partly-owned subsidiary Calidus announced Thursday that it had discovered a new gold strike extending over 1,000m at its St Georges Shear prospect.

Reverse circular drilling of the St Georges Shear prospect highlighted the potential to add to Calidus' existing resource base and showed significant intercepts.

The company delivered 3.9 grams a tonne of gold over a 8 centimetre section starting at 0 metres below the surface from drill hole 18SGRC008; 1.53 grams a tonne over 11 metres from 28 metres below surface at 18SGRC012 and 2.27 grams a tonne over 6 metres from 88 metres below surface at 18SGRC013.

The company said it would fast-tracked drilling along St Georges, expected to take place before the end of 2018.

'Calidus' discovery of an additional 1,000m gold strike at St Georges Shear verifies the geological targeting model and has increased company confidence in its potential to materially increase its current global resource of 712,000oz Au at a grade of 2.11g/t, said Russell Lamming, Chief Executive Officer of Keras.

'Importantly, the shallow intersections reported at St Georges indicates near surface gold potential which adds weight to any prospective developments at Klondyke, located only 150m to the south of this new discovery.'

'Calidus intends to carry out further drilling within this specific area and in the wider Warrawoona area in order to prove up the wider resource potential of this project.'

At 8:57am: [LON:KRS] Keras Plc share price was +0.03p at 0.4p

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