DRILLING SUCCESS AT BULLETIN DEPOSIT

Calidus Resources Announces Significant Intercepts

Calidus Resources Limited (ASX:CAI) has announced encouraging drill results from their Bulletin deposit, with assays from 10 out of 24 reverse circulation (RC) drill holes showing significant mineralisation:

  • 14m @ 8.58g/t Au from 50m (23BTRD020)
  • 32m @ 3.42g/t Au from 143m (23BTRD013)
  • 6m @ 12.74g/t Au from 131m (23BTRD007)

The drill results demonstrate mineralisation beneath the currently modelled Mineral Resource of 832kt at 4.1g/t for 110,000 ounces, suggesting a potential increase in the resource base.

Dave Reeves, Calidus Managing Director, stated: “These results confirm the high-grade nature of the Bulletin deposit and reinforce why it will facilitate a step change in our ounce production profile and cash generation when operations commence later this year. The results show strong mineralisation occurring outside the previous modelled resource highlighting the potential for an increased resource base for mining. As soon as final results are received, we will update the market on drill results and shortly after an updated Mineral Resource as we rapidly progress to mining this high-grade deposit.”

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Goldman

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