Keras Resources plc (LON:KRS), the Australian gold mining company, has today announced the expansion of its footprint in the Warrawoona Goldfield District, through the application for two tenements covering an area of 170km2 on prospective greenstone terranes that flank major granitic intrusions, which are significant to regional gold mineralisation. The Warrawoona Goldfield District is in the East Pilbara Gold Belt of the Pilbara Goldfield of Western Australia, where the Company’s 100% owned, flagship Klondyke Gold Project (‘Klondyke’) is located.
Details
· Applications for two tenements have been lodged covering an area of approximately 170km2
· The tenure hosts a multitude of historic gold occurrences and artisanal mining operations
· The applications have passed the public objection phase and are now awaiting heritage clearance
· Tenements will further strengthen Keras’ established land holding within the region, including the flagship Klondyke project, which has a current resource estimate of 5.6Mt at 2.08g/t Au for 374,000oz with significant further upside potential indicated from our initial drill campaign
· Existing Klondyke mining tenements have all been renewed until 2035
· The applications are part of our defined development strategy to consolidate our presence within the region and provide a large asset base for future development centred on Klondyke
Keras Resources plc Managing Director Dave Reeves said, “Having successfully acquired and consolidated Klondyke in September 2016, we have embarked on a strategy of strengthening our presence in this gold-rich region, with the application for these tenements marking the first step in a further consolidation of the greater region. We continue to investigate other low-cost opportunities to increase our tenure in the area with the defined aim of providing a significant resource base to underpin the development of a substantial gold mine.”
Further Details
Keras will update the market when the tenements are granted and then embark on maiden gold exploration work shortly thereafter. The pegging of this ground is Keras’ first step in its strategy to consolidate the region and provide a large asset base for future development centred on Klondyke.
