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Colin Hay

Calidus Resources (ASX:CAI) has announced a maiden open-pit Probable Ore Reserve for the Bulletin project in WA of 600,000 at 2.86g/t Au for 55,000oz and exceptional Pre-Feasibility Study (PFS) outcomes.

Bulletin sits within the Bamboo Creek historical mining centre that previously produced 220,000oz at 8.7g/t. Bamboo Creek forms part of the Haoma Joint Venture (CAI 60%: Haoma 40%) Bulletin was previously mined by Haoma in 2004 as a starter pit.

“This maiden reserve and PFS confirms the high-grade Bulletin deposit will be significant in driving production growth and increasing cashflow generation at Warrawoona,” Managing Director, Dave Reeves, said

“With mining of Blue Bar well advanced, we see the introduction of Bulletin’s higher- grade ore to supplement the existing ore from the Klondyke open-pit as a pivotal turning point in Calidus’ ambitions to achieve a 100,000 oz per annum production rate at the Warrawoona Gold Project.”

Past Production

Alluvial gold was discovered near Bamboo Creek in 1893 and outcropping mineralisation was found soon after. Gold has been mined sporadically from deposits along the field with peaks in the 1890s, 1930-1955 and 1984-1995.

Total production from hard rock sources at Bamboo Creek is estimated to have exceeded 7,000 kilograms of gold (about 225,000 ounces) from approximately 800,000 tonnes of ore at a gold grade of 8.7g/t.

The majority of ore was extracted from the Mt Prophecy-Perseverance deposit, which was mined as an underground operation between 1984 and 1989. Most recent production was from the Bulletin open pit in 2004-2005.

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