Classic Minerals Ltd: Quarterly Activities Report
29.01.2019 | ABN Newswire
Perth, Australia - During the quarter, Classic Minerals Ltd. (ASX:CLZ) completed another successful drill campaign at the Forrestania Gold project ("FGP") in Western Australia which returned consistently high-grade results. These results highlighted significant potential to expand current Mineral Resource estimate at FGP.The Company is looking forward to continuing its developments at the Forrestania Gold Projects during the 3st Quarter (Jan 2019 - March 2019) and aims to:
- Continue focused and targeted drilling at FGP, particularly at Kat Gap;
- Further advance interpretation and discovery of significant new zones of gold mineralisation within the granite at Kat Gap, previously thought to be barren;
- Drilling at Kat Gap also showed that high-grade gold mineralisation has effectively dammed up against a crosscutting Proterozoic dyke. Drilling at Lady Magdalene yielded impressive results further confirming the existence of a number of high-grade, cross-cutting gold lodes previously missed due to the wide spaced drilling;
- Commence drilling regional exploration targets at FGP including the Van Uden West, Lady Lila and Lady Magdalene prospects;
- Continue to raise capital & pay down debt & liabilities to improve the financial position of the Company.
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About Classic Minerals Ltd:
Classic Minerals Ltd. (ASX:CLZ) is an exploration and development company focused on gold deposits in Western Australia's famous Goldfields region. In March 2017, Classic acquired the Forrestania Gold Project, with seven tenements stretching across 450km2. Strategically located in a very prospective region, the FGP is an underexplored package surrounded by multimillion ounce deposits such as Bounty (2Moz) and Yilgarn Star (1.5Moz).
Source:
Classic Minerals Ltd.
Contact:
Classic Minerals Ltd. T: +61-8-6305-0221 E: contact@classicminerals.com.au WWW: www.classicminerals.com.au