Keras Resources updates inferred mineral resource at Copenhagen Deposit

Shares in Keras Resources are up more than 5% after it announced an initial inferred mineral resource (IMR) at the Copenhagen Deposit.

This deposit, along with Keras' flagship Klondyke Gold Project, comprised the Warrawoona Gold Project in the East Pilbara Gold Belt of the Pilbara Goldfield of Western Australia.

The IMR was 180,000t @ 6.1 g/t Au (gold) for 36,000oz. The total IMR inventory for Warrawoona now stood at 5.8Mt @ 2.2g/t Au for 410,000oz.

"In addition to adding an high-grade gold resource to our existing resource inventory at Warrawoona, today's news also confirms our belief in the prospectivity of the wider project area as we target delineating over one million ounces of gold through further drilling," said managing director Dave Reeves.

"With only 300m of the known 6km of strike in the Copenhagen shear drilled, including an undrilled zone of high-grade mineralisation 3km along strike at the Coronation Project, we are keen to press on with further exploration work as soon as possible," he added.

Reeves said that being able to generate a high-grade resource so rapidly was one of the aspects that attracted Keras to the Warrawoona area.

"Having access to high-grade, open-pittable resources is a huge benefit for any potential mining development as it assists with rapid payback of the project.

"With this in mind, further exploration and development of Klondyke and the wider Warrawoona Project remains Keras' short term strategic focus following the proposed ASX listing."

At 10:32 GMT, shares in AIM-listed Keras were up 5.26% to 0.5p each.