Mineral Resource Estimate
| Deposit | Cut-Off | Measured | Indicated | Inferred | Total | ||||||||
| (g/t) | Mt | Au (g/t) | KOz | Mt | Au (g/t) | KOz | Mt | Au (g/t) | KOz | Mt | Au (g/t) | KOz | |
| Klondyke Open Pit | 0.3 | 1.1 | 1.02 | 36 | 13.0 | 0.97 | 404 | 17.0 | 0.73 | 400 | 31.1 | 0.84 | 840 |
| including | 0.5 | 0.98 | 1.10 | 34 | 11.0 | 1.07 | 377 | 10.6 | 0.94 | 320 | 22.5 | 1.01 | 731 |
| Klondyke UG | 1.5 | 1.0 | 2.87 | 89 | 1.8 | 2.82 | 162 | 2.7 | 2.83 | 250 | |||
| including | 2.0 | 0.7 | 3.36 | 72 | 1.2 | 3.31 | 130 | 1.9 | 3.33 | 202 | |||
| Copenhagen | 0.5 | 0.2 | 5.58 | 34 | 0.1 | 2.65 | 9 | 0.3 | 4.54 | 43 | |||
| Coronation | 0.5 | 0.6 | 1.88 | 34 | 0.2 | 1.24 | 9 | 0.8 | 1.69 | 43 | |||
| Fieldings Gully | 0.5 | 0.3 | 1.80 | 16 | 0.3 | 1.87 | 20 | 0.6 | 1.84 | 36 | |||
| Blue Spec Project | 0.1 | 31.1 | 95 | 0.1 | 20.0 | 96 | 0.2 | 24.3 | 190 | ||||
| Blue Spec | Note 1 | 0.1 | 31.5 | 71 | 0.1 | 21.2 | 66 | 0.2 | 25.5 | 136 | |||
| Gold Spec | Note 1 | 0.02 | 30.1 | 24 | 0.1 | 17.9 | 30 | 0.1 | 21.8 | 54 | |||
| Blue Bar 2 | 0.7 | 0.2 | 2.06 | 12 | 0.1 | 1.63 | 6 | 0.3 | 1.87 | 18 | |||
| Bulletin 2 | 0.7 | 0.4 | 4.3 | 59 | 0.4 | 3.6 | 42 | 0.8 | 4 | 100 | |||
| Total | 1.1 | 1.02 | 36 | 15.7 | 1.47 | 743 | 20.1 | 1.15 | 744 | 36.8 | 1.28 | 1,519 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Note 1: Mineral Resources for Blue Spec were calculated utilising metal pricing, recoveries and other payability assumptions detailed in ASX Announcement 29 September 2022 – “Maiden Blue Spec Reserve underpins expansion plan for Warrawoona”
Note 2: Blue Bar and Bulletin are part of the Haoma JV where Calidus has a 60% profit share
Ore Reserves
| Deposit | Cut-Off | Proven | Probable | Total | ||||||
| (g/t) | Mt | Au (g/t) | koz | Mt | Au (g/t) | koz | Mt | Au (g/t) | koz | |
| Klondyke Open Pit | 0.3 | 0.9 | 1.0 | 29 | 3.6 | 1.0 | 109 | 4.5 | 1.0 | 138 |
| Klondyke Underground | 1.2 | 1.9 | 2.1 | 120 | 1.9 | 2.1 | 120 | |||
| St George Open Pit | 0.3 | 0.3 | 0.9 | 9 | 0.3 | 0.9 | 9 | |||
| Copenhagen Open Pit | 1.88 | 0.1 | 5.5 | 17 | 0.1 | 5.5 | 17 | |||
| Fieldings Gully | 0.35 | 0.3 | 1.4 | 13 | 0.3 | 1.4 | 13 | |||
| Blue Spec | Note 1 | 0.2 | 11.2 | 83 | 0.2 | 11.2 | 83 | |||
| Bulletin2 | 0.7 | 0.6 | 2.9 | 55 | 0.6 | 2.9 | 55 | |||
| Total | 0.9 | 1.0 | 29 | 7.0 | 1.8 | 406 | 7.9 | 1.7 | 435 | |
|---|---|---|---|---|---|---|---|---|---|---|
Note 1: Mineral Reserves for Blue Spec were calculated on a cut-off using Net smelter return and Gold Equivalent using metal pricing, recoveries and other payability assumptions detailed in ASX Announcement 29 September 2022 – “Maiden Blue Spec Reserve underpins expansion plan for Warrawoona”
Note 2: Bulletin are part of the Haoma JV where Calidus has a 60% profit share
The information that relates to exploration results is based on and fairly represents information compiled by Mr Steve Sheppard a competent person who is a member of the AIG (Member #5290). Mr Sheppard is employed by Calidus Resources Limited and holds shares and options in the Company. Mr Sheppard has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Sheppard consents to the inclusion in this announcement of the matters based on his work in the form and context in which it appears.
The information that relates to Reporting of Exploration Results at the Klondyke Open Pit and St George Open Pit is based on and fairly represents information compiled by Dr Matthew Cobb; a Competent Person and a current Member of the Australian Institute of Geoscientists (MAIG 5486). Dr Cobb is a full-time employee of Calidus Resources Ltd (CAI) and holds shares in the Company. Dr Cobb has sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Cobb consents to the inclusion in the report of matters based on his information in the form and context in which it appears.
The information that relates to the estimation and reporting of underground gold Mineral Resources at the Blue Spec and Gold Spec deposits is based on information compiled by Mr Timothy Holmes BSc, a Competent Person and a current Member of the Australian Institute of Geoscientists (MAIG 7935). Mr Holmes, Senior Geologist at Entech Pty Ltd, is an independent consultant to Calidus Resources Ltd and has sufficient experience relevant to the style of mineralisation and deposit type under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Holmes consents to the inclusion in the report of matters based on his information in the form and context in which it appears.
The information that relates to the Underground Ore Reserves is based on and fairly represents information compiled or reviewed by Mr Matthew Keenan. Mr Keenan is a full time employee of Entech Pty Ltd. Mr Keenan has confirmed that he has read and understood the requirements of the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Keenan is a Competent Person as defined by the JORC Code 2012 Edition, having more than five years’ experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity for which he is accepting responsibility. Mr Keenan is a Member of the AusIMM and has provided his prior written consent to the inclusion in the report of the matters based on his information in the form and context in which it appears.
