Completion of Drilling at Klondyke Gold Project

RNS Number : 4582Q

Keras Resources PLC

30 November 2016

 

Keras Resources plc / Index: AIM / Epic: KRS / Sector: Mining

30 November 2016

Keras Resources plc ('Keras' or 'the Company')

Visible Gold Identified Following Completion of Drilling at Klondyke Gold Project

Keras Resources plc, the Australian gold mining company, is pleased to announce the completion of reverse circulation (RC) drilling at the Company's 100% owned, owner operated flagship Klondyke Gold Project, in the prospective Warrawoona Goldfield in the East Pilbara District of the Pilbara Goldfield of Western Australia ('Klondyke').

Highlights:

§ Completion of the initial 600m Klondyke drill programme - results to confirm targets for resource drill programme planned for early 2017 to extend current JORC compliant mineral resource estimate of 5.6Mt at 2.08g/t gold ('Au') for 374,000oz;

§ Visible gold identified in one hole;

§ Results from the drilling campaign anticipated within the next 6 weeks;

§ Significant upside potential - current resource confined to just 2km of strike of the main 7.5km shear strike identified; and

§ Regional prospectivity currently being evaluated - Keras has secured the right to mine contiguous Haoma tenements covering 650 hectares, which have excellent discovery potential highlighted by high-grade drill results, including 3m at 17.58g/t Au from 20m, 4m at 59.48g/t Au from 64m and 11m at 7.23g/t Au from 30m.

Keras Managing Director Dave Reeves said,

"Activity at Klondyke is gaining momentum as we target a comprehensive drilling programme in Q1 2017, which we believe has the ability to materially extend the current JORC resource, which covers less than 30% of the known strike.  Encountering visible gold in this initial RC drill programme is exceptional and supports our confidence in the project's prospectivity, however more definitive results will be available in the coming weeks which we believe will confirm the potential of Klondyke, our 100% owned and operated flagship project."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

**ENDS**

For further information please visit www.kerasplc.com, follow us on Twitter @kerasplc or contact the following:

Dave Reeves	Keras Resources plc	[e-mail]
Nominated Adviser
Gerry Beaney/David Hignell	Northland Capital Partners Limited	[phone]
Broker
Elliot Hance/Jonathon Belliss	Beaufort Securities Limited	[phone]
Financial PR
Susie Geliher/Charlotte Page	St Brides Partners Limited	[phone]

 

END

 

 

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