Gold, News

Bamboo Creek remains strong

Perseus Mining has increased its shareholding in OreCorp ahead of the Silvercorp Metals–OreCorp acquisition.

A review into historical mining and exploration at the Bamboo Creek gold project in WA has confirmed multiple brownfield prospects hosting shallow, high-grade mineralisation.

Bamboo Creek is part of the Warrawoona gold project in the Pilbara region of WA and is owned by Calidus Resources. The new review shows a potential to increase inventory and production at Warrawoona.

“Bamboo Creek hosts an extensive gold system that could have a significant impact on operations at Warrawoona, with high grade mineralisation located less than 60km from the processing plant,” Calidus managing director Dave Reeves said.

“No meaningful mining or exploration has been undertaken at Bamboo Creek since extraction from the Bulletin open pit ceased in 2005.

“We are now reviewing data for the Bulletin deposit with the aim of establishing a resource. We will then commence work on longer term opportunities.”

Bamboo Creek forms part of a joint venture between Calidus (60 per cent) and Haoma (40 per cent). It is a priority area for Calidus due the scale of the mineralisation system.

“Mine permitting remains in place at Bulletin, and mineralisation is open along strike in both directions beyond the pit limits,” Calidus said.

“Several other targets and opportunities have been identified, to be explored in parallel with detailed work now underway on Bulletin.

“Most recent mining by Haoma was from a starter pit at Bulletin in 2004–2005.”

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