Warrawoona Gold Project in the emerging Pilbara Goldfield of Western Australia.
The Warrawoona Gold Project:
- has a global resource of 21.3Mt @ 1.83g/t Au for 1.25 million ounces;
- includes a higher-grade component of 14.6Mt @ 2.37 g/t for 1.1 million ounces;
- 64% of the Mineral resource is classified as Indicated Resource;
- mineralisation outcrops at surface at all deposits and is open along strike and down dip at all deposits;
- 780sq km of tenure covering the entire greenstone belt provides large blue sky upside;
- the Klondyke Prospect has a current 2012 JORC Code compliant Inferred Resource of 20Mt at 1.79g/t Au for 1.15 million ounces and includes 750,000 ounces in the Indicated Category;
- the Satellite Deposits of Copenhagen, Coronation and Fieldings Gully have a combined current 2012 JORC Code compliant Inferred Resource of 1.2Mt @ 2.53g/t Au for 98,000 ounces;
- mineralisation generally comprises thick sub-vertical shear zones potentially amenable to low cost open-pit mining with mineralisation outcropping at surface.
Location and Tenements
The Warrawoona Gold Project is situated in the East Pilbara district of the Pilbara Goldfield of Western Australia, approximately 150km south east of Port Hedland and approximately 25km south east of the town of Marble Bar.
Historically fragmented ownership has held back development of the area. Calidus now controls the entire Warrawoona Greenstone Belt with a total of 780 sq km under its control. Since listing in mid-2017 with a resource of 411kozs, the Company has undertaken a systematic modern approach to exploration and tripled the resource base to it’s current 1.25 million ounces.
The mining leases comprising the Klondyke Prospect lie within the Warrawoona Gold Project, one of the oldest greenstone belts within the Pilbara Craton.
Independent consultant Widenbar and Associates completed a resource update in February 2019 to derive a 2012 JORC compliant total Resource of 20Mt @ 1.79g/t Au for 1.15 million ounces and includes 750,000 ounces in the Indicated Category (announced by the Company on 6 February 2019).
The resource is currently defined over 5km of strike and is open along strike and down dip. Drilling in 2019 will target both the along strike extensions and down dip potential of this large mineralised system that outcrops at surface.
The main Klondyke shear hosts extensive old workings and has been traced for over 12.5km in length highlighting the large upside of this structure.
The Company controls the entire Warrawoona greenstone belt and has over 200 historic workings on these tenements. A large-scale regional soils programme was undertaken in 2018 with initial prospects to be followed up in 2019. Three satellite deposits, Copenhagen, Coronation and Fieldings Gully have been drilled in 2018 and provide an additional 98,000 ounces of resource to the project.
Historical deposits that require follow up include:
Copenhagen – High grade near surface resource
Historical mine located 10km from the Klondyke Prospect hosting a 2012 JORC Code compliant Inferred Resource of 0.2Mt @ 6.1 g/t Au for 36,000 ounces. The prospect remains open along strike and down dip.
Historical mine located 12.5km from the Klondyke Prospect 3km along strike from Copenhagen. No resource has been calculated, significant intercepts that require follow-up include
- 9m @ 5.21 g/t from 9m
- 8m @ 7.64 g/t from 64m
- 3m @ 16.67 g/t from 16m
- 12m @ 7.98 g/t from surface
- 4m @ 5.71 g/t from 12m
- 2m @ 31.5 g/t from 30m
The Fieldings Gully historical mine is located 15km from the centre of the Klondyke area hosts a 2012 JORC Code compliant Resource of 0.4Mt @ 1.65 g/t for 22,000 ounces. The prospect remains open along strike and down dip.