Calidus Resources (ASX:CAI) spot more high-grade satellite potential for Warrawoona

Calidus Resources (ASX:CAI) spot more high-grade satellite potential for Warrawoona

October 12, 2023 Off By Tom Duggan

Calidus Resources‘ technical review over Mickey’s Find has identified the potential for multiple large, high-grade satellite deposits to add more economic ounces to its 1.7Moz Warrawoona gold operations in the East Pilbara.

Like the high-grade regional gold deposits found within Calidus’ mining leases at Blue Bar and Bamboo Creek, Mickey’s Find sits within a short truck ride of the Warawoona processing plant and its tentpole Klondyke deposit.

The open at depth and strike system was last explored in 2003 by Calidus’ Haoma JV partner and yielded strikes as high as 36m at 2.27g/t Au, but a lack of established nearby operations put a damper on further exploration.

The partnership was formed to claim value from regional deposits by leveraging Warrawoona operations, and Calidus Managing Director Dave Reeves said that Mickey’s Find was a gold system which could provide substantial long-term feed.

“The high-grade mineralisation is just 60km from the Warrawoona plant and drilling completed in 2003 by Haoma highlighted an additional opportunity to identify a bulk tonnage gold-silver-copper deposit,” Mr Reeves said.

“We are aiming to imminently restart production at Blue Bar with Bamboo Creek and then Mickey’s Find to follow. These deposits will provide high-grade ore supply to Warrawoona, supplementing material from the Klondyke open pit.

“Importantly these new regional deposits identified on the Haoma JV are located on granted Mining Leases within trucking distance of Warrawoona and require minimal upfront capex due to being amendable to shallow open pits.”

Forward plan

Calidus already holds stockpiles of 10,000t @ 1.5g/t Au and a maiden 19koz Inferred resource at Blue Bar and plan an imminent restart to bring more high-grade gold to Warrawoona after recently completing grade control drilling.

And the gold producer plans to estimate a JORC resource from the historical drilling at Mickey’s Find as it continues further exploration and optimisation to add high-grade ounces from its surrounding territory.

Significant intercepts

  • 36m at 2.27g/t Au and 24.0g/t Ag from 56m incl. 4m at 10.25g/t Au and
    99.6g/t Ag from 60m (MFRC18)
  • 18m at 3.88g/t Au and 6.5g/t Ag from 39m incl. 1m at 52.89g/t Au and 34.2g/t
    Ag from 46m (MFRC13)
  • 19m at 2.93g/t Au and 49.0g/t Ag from 12m incl. 7m at 5.74g/t and 61.8g/t
    Ag from 22m (MFRC3)
  • 9m at 15.30g/t Au and 39.7g/t Ag from 140m to EOH incl. 2m @ 53.06g/t Au
    and 8.4g/t Ag from 144m (MFRC13)
  • 20m at 4.47g/t Au and 6.2g/t Ag from 134m to EOH incl. 2m at 30.38g/t Au
    and 43.0g/t Ag from 142m (MFRC30


JV tenement areas

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