Classic Minerals Ltd: Kat Gap Drilling Increases Strike Length to over 500 meters
10.12.2019 | ABN Newswire
Perth, Australia - WA-focused gold exploration and development company Classic Minerals Ltd. (ASX:CLZ) is pleased to announce that it has received assays results from its most recent RC and diamond drilling program at its Forrestania Gold Project (FGP) in Western Australia. The Company completed a total of 21 holes for 1,580m at the Kat Gap project, 7 holes for 640m at Lady Magdalene and 3 holes for 270m at Stormbreaker with the aim of improving/increasing known high-grade gold mineralisation.Drilling results from Kat Gap continued to deliver with significant zones of gold mineralisation located on the granite-greenstone contact. Recent drilling at Kat Gap also showed that high-grade gold mineralisation projects down-plunge at depth. Kat Gap is strategically located approximately 70km south-south east of the Company's Forrestania Gold project containing the Lady Magdalene and Lady Ada gold resources.
RC drilling at Lady Ada/Magdalene also detected several potential high-grade cross-cutting quartz lodes north of the Lady Ada open pit. Both quartz veins were intersected at shallow depths in the leached profile approximately 15-20m below surface.
Classic CEO Dean Goodwin said:
Kat Gap keeps on growing both along strike and at depth. I'm very pleased with the extended zones of ore-grade gold intersections along strike to the north together with the great results we are now starting to see down dip at depth. Only a small number of deep holes have been drilled at Kat Gap to date. These new results clearly demonstrate that the system has great potential to grow not only along strike but at depth as well. The northern extension RC drilling focused on testing the granite-greenstone contact at shallow depths down to only 50m vertical below surface. If these ore-grade zones continue further north, then we could be looking at strike lengths in-excess of 600-700m.
The next stages for Kat Gap are to continue RC drilling programs extending the known mineralised zone further north and south from our current drilling area. We have neglected the southern strike potential south of the Proterozoic dyke. There is no geological reason why the gold mineralisation should be any different on the south side, we just worked on the north side because the gold grades were slightly better. The next RC program will focus not only on the northern strike but also the southern strike potential for at least 100m. If we have similar numbers south of the dyke then we could be looking at something really special with strike lengths in-excess of 800m in total. Deeper holes will also be incorporated into the next few programs to probe at depth 200-300m below existing drill coverage.
RC drilling at Lady Ada also showed great potential for further high-grade cross-cutting lodes north of the existing pit. Although the quartz lodes intersected returned relatively low-grade values, they are very significant in the fact that quartz veins intersected historically at Lady Ada at the same depth also contained low-grade values but projected down at depth forming the high-grade sapphire lode.
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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