Classic Minerals Ltd: Kat Gap Extends Drilling Results at Depth

Perth, Australia - WA-focused gold exploration and development company Classic Minerals Ltd. (ASX:CLZ) ("Classic", or "the Company") is pleased to announce that it has received assays results from its latest RC drilling program at its Forrestania Gold Project (FGP) in Western Australia. The Company completed a total of 17 holes for 1,880m at the 100% owned Kat Gap project with the aim of improving/increasing known high-grade gold mineralisation.

Highlights:

- Kat Gap keeps on growing with the main granite-greenstone contact gold lode extending down dip a further 50m vertical below surface with significant gold mineralisation intersected adjacent to the cross-cutting Proterozoic dyke. This takes the average depth of gold mineralisation from 50-60m below surface down to 90-110m in the area adjacent to the dyke.

- High grade gold intercepts returned from down-dip extensions. Better results from the most recent drilling include:

9m grading 20.94 g/t gold from 123m, including 1m grading 125.00 g/t from 126m.
8m grading 8.26 g/t gold from 58m, including 2m grading 21.80 g/t from 61m.
13m grading 4.91 g/t gold from 33m, including 1m grading 22.10 g/t from 36m.
8m grading 4.19 g/t gold from 109m, including 1m grading 13.50 g/t from 115m.
3m grading 7.44 g/t gold from 92m, including 1m grading 17.40 g/t from 93m.
8m grading 5.86 g/t gold from 37m, including 1m grading 9.90 g/t from 41m.

- This round of RC drilling at Kat Gap was focused primarily on testing the down dip extent of previous high-grade intercepts on the main granite-greenstone contact adjacent to the cross-cutting Proterozoic dyke. Drilling also focused on testing down-dip projections of recent high-grade intercepts in the newly extended northern zone. System remains open in all directions.

- High grades and shallow nature of the gold mineralised system on the granite-greenstone contact will enhance the economics of any future open pit mining operation.

Drilling results from Kat Gap continued to impress with significant zones of gold mineralisation located on the granite-greenstone contact. Recent drilling at Kat Gap has shown that high-grade gold mineralisation projects very close to surface and continues down-dip with increasing width.

The Kat Gap Project is strategically located approximately 70km south-south east of the Company's Forrestania Gold project containing the Lady Magdalene and Lady Ada gold resources. Kat Gap adjoins the Forrestania Nickel project currently operated by Western Areas Ltd.

Classic CEO Dean Goodwin said:

These deeper gold intersections clearly show that Kat Gap has legs with the potential to grow significantly at depth. The further down we drill the wider the gold zones seem to be getting. This is a function of the structural setting. As the contact flattens out the fault zone opens up wider and the gold lodes thicken accordingly. I've seen this time and time again in the Goldfields. Only a handful of deep holes have been drilled at Kat Gap to date. We clearly need to drill more deeper holes to follow the system down.

We also ventured out into the granite to drill for the first time 400m west of the main granite-greenstone contact. Here we tested a very small section of the 4.4km long auger soil anomaly looking for primary gold within the granite. Results were very encouraging with plenty of anomalous gold below the oxide profile. I like to call this smoke and there's plenty of smoke out in the granite. Where there's smoke there's generally a decent fire nearby.

The next stages for Kat Gap will be to extend the known gold mineralised zone further north and south from our current drilling area. This would entail testing the northerly extensions for another 300m and the southerly extensions for 300m. If successful that would give us a combined strike length of 1,000m. We would also probe at depth down dip along the entire 400m of gold mineralised granite-greenstone contact we have delineated to date. A few deep diamond holes to collect valuable structural data will also be incorporated into the program to probe at depth 200-300m below existing drill coverage.

To view all drill results, please visit:
https://abnnewswire.net/lnk/5PORZN1E

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