21/03/2022 - 14:49

Calidus etches out more Pilbara gold targets

21/03/2022 - 14:49

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Calidus Resources has etched out a plethora of promising new gold targets at its Blue Spec project in the heart of the Pilbara. Stream sediment sampling has lit up three prospective targets returning values up to 326 parts per billion gold along strike from the high-grade Blue Spec project where the company is set to deliver the results of a definitive feasibility study in the coming months.

Calidus etches out more Pilbara gold targets
Calidus Resources Managing Director, David Reeves on an untouched piece of dirt near the company’s high-grade Blue Spec gold project in the Pilbara. Credit: File

Calidus Resources has etched out a plethora of promising new gold targets at its Blue Spec project in the heart of the Pilbara. Stream sediment sampling has lit up three prospective targets returning values up to 326 parts per billion gold along strike from the high-grade Blue Spec project where the company is set to deliver the results of a definitive feasibility study in the coming months.

At the Blue Spec project, Calidus finds itself the keeper of a virgin patch of dirt that is yet to feel the bite of the drill bit.

Surprisingly, the company says the stream sediment sampling program completed at the Blue Spec West tenure is the first modern exploration to have been completed over the area.

The Blue Spec West tenement lies immediately west and along strike from the Blue Spec project where Calidus has defined 219,000 ounces of contained gold grading a sensational 16.3 grams per tonne across both the Blue Spec and Gold Spec deposits.

The western tenure encompasses a sequence of sedimentary rocks of the Mosquito Creek Basin. Gold deposits within that basin are characteristically hosted in narrow quartz lodes associated with zones of structural complexity. The nearby Blue Spec and Gold Spec deposits are housed in the regionally significant Blue Spec shear trend that strikes east-northeasterly and extends across the Blue Spec West tenement.

Interestingly, gold mineralisation within the Mosquito Creek Basin is also typically associated with stibnite. Stibnite is rich in antinomy making it a valuable pathfinder element in the hunt for gold in the region.

A total of 86 stream sediment samples were collected over the southern two-thirds of the tenement and sent to SGS Australia laboratories for gold and multi-element analysis.

The main anomalous gold belt lies along the northern edge of the Blue Spec shear trend and corresponds well with structures mapped in the area. Antinomy and arsenic anomalies, established pathfinder elements, were also reported to correlate with the gold anomaly.

Additionally, two other anomalous areas were also identified - one along the southern edge of the Blue Spec shear trend and another associated with an intriguing cross-cutting fault structure at the northern extents of the shear trend.

The company says a follow-up soil sampling program consisting of up to 1,000 samples is in the throes of planning and will be aimed at narrowing in on targets ready for drilling.

Calidus Resources Managing Director, David Reeves said: “These early-stage results highlight the potential to grow the Blue Spec inventory, which could in turn increase the mine life at Warrawoona.”

At Warrawoona, the company is nearing completion of the project’s gold processing facility and supporting infrastructure, with the first gold pour slated for May this year.

Calidus aspires to incorporate the Blue Spec gold resources into its mining operation at Warrawoona and boost production numbers to 130,000 ounces per annum. The company is on track to deliver the results of a definitive feasibility study at the Blue Spec project in the coming month, the results of which will no doubt be highly anticipated by Calidus followers.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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