Strong drilling results show potential for open pit at Blue Spec East

Calidus Resources Limited announced today strong drilling results which highlight the potential for an open-pit operation at its Blue Spec East prospect in the Pilbara. The results come from the RC drilling campaign conducted in December 2021 and January 2022 . Assay results, including multi-element geochemistry, have been received now for all drill holes. The results better defined the shape of previously identified intersections and confirm that known mineralisation at depth continues to near the surface where it may be amenable to open-pit mining. Follow-up drilling is needed to determine the potential for an open-pit resource. At Blue Spec, south of the main fault zone hosting the Blue Spec and Gold Spec deposits, drilling has confirmed that a newly identified zone is highly anomalous in gold and pathfinder elements. At the historic Marble Bar Goldfield, drilling of the main quartz reef has confirmed the down-dip continuity of the reef with intersections of up to 2m @ 8.03g/t Au (including 1m @ 12.9g/t Au) present. The reef is open along strike and down dip.

Calidus Managing Director Dave Reeves said: “These results clearly demonstrate there is opportunity for additional mine life at Blue Spec beyond the current resource. In addition, anomalous gold results from a parallel shear are encouraging for the wider area where targeted soil sampling is scheduled to begin shortly. “At Marble Bar, the initial drilling program has demonstrated the presence of shallow high-grade gold down dip from the old workings. These results will be followed up with further drilling as this area may provide additional high-grade ore to Warrawoona given it is just 25km from the processing plant”.