The company first flagged the discovery of the Felix prospect in November with a hit of 41m at 2.37 grams per tonne gold from 32m, including 5m at 3.4gpt and 9m at 3.43gpt.
Today Calidus reported the remaining assays from the initial 31-hole reverse circulation program.
Results included 6m at 40.15gpt gold from 38m, including 1m at 220.17gpt; 7m at 5.42gpt from 46m, including 2m at 11.78gpt; and 22m at 1.36gpt gold from 34m.
Of the 31 holes, 25 contained at least one significant intercept with several holes containing multiple intercepts.
The results indicate the presence of two mineralisation styles: high-grade shear-hosted mineralisation analogous to the 1 ounce per tonne Blue Spec deposit and disseminated mineralisation.
Calidus managing director Dave Reeves said the initial drill program at Felix has exceeded all expectations.
“To have hit bonanza grades that are analogous to the nearby one ounce per tonne Blue Spec deposit is very exciting,” he said.
“The Blue Spec deposit has been mined to 300m depth so to have intercepts similar in tenor at 25m depth obviously makes this our highest priority target to define as it could significantly alter the economics of the greater Blue Spec project.
“In addition, the broader lower grade mineralisation could provide a sweetener to the Warrawoona plant as its tenor appears to be higher than that currently being processed.”
Felix is 7km from Blue Spec and 70km from the operating Warrawoona plant.
Blue Spec has a reserve of 200,000t at 11.4gpt for 83,000oz and a decision on the A$40 million development should be made by mid-year.
Calidus declared commercial production at Warrawoona, near Marble Bar in Western Australia, last week.
The emerging miner reported processing 191,000 tonnes of ore grading 0.85 grams per tonne for the month of December with 5053 ounces produced at estimated cash costs of A$2050/oz.
