Classic Minerals Ltd: Mining Proposal Application Lodged - Kat Gap
26.05.2021 | ABN Newswire
Perth, Australia - Classic Minerals Ltd. (ASX:CLZ) is pleased to announce lodgedment of the remaining two required environmental approval applications to DMIRS for the proposed Kat Gap Mine development footprint.Highlights:
- Following the grant of the Kat Gap Mining Lease (M74/249) by the Department of Mines, Industry Regulation and Safety (DMIRS) on 22 April 2021, CLZ has now lodged the two remaining environmental approval applications to DMIRS for the proposed Kat Gap Mine development footprint.
- Classic Minerals Ltd. continues to advance the planned development of its 100% owned flagship Kat Gap Gold Project which lies 170km south of Southern Cross and has an initial JORC inferred resource of 92,869 oz @ 2.96 g/t Au with conventional cyanide leach process proving 95-96% recovery from both fresh and oxide samples.
- These applications include the Native Vegetation Clearing Permit application and the Mining Proposal (including Mine Closure Plan) application.
- CLZ expects the process to take around 3-months to conduct the assessment process in order for DMIRS to approve these applications.
- Upon receiving approval for the Mining Proposal, CLZ will look to immediately commence mining and production operations and process the ore via its Gekko plant which has a 30 tonne per hour (tph) capacity and is scalable to a Gekko Python size plant with a processing capacity of 250 tph.
- The Company will update shareholders regarding agreements to access regional infrastructure and water access.
Following the recent grant of the Kat Gap Mining Lease (M74/249) by the Department of Mines, Industry Regulation and Safety (DMIRS) on 22 April 2021, both the Native Vegetation Clearing Permit application and the Mining Proposal (including Mine Closure Plan) application have been lodged.
It is expected the process will take around 3 months for DMIRS to conduct the assessment process in order to approve these applications. Should this expected time frame hold true, Classic Minerals will begin to generate potential revenue via the processing of the ore from it's 100% owned flagship Kat Gap Gold Project
Approval of the above-mentioned applications being the final significant hurdles prior to the commencement of production, the Company looks forward to the imminent commencement of mining and production operations.
The Company will also update shareholders regarding agreements to use regional infrastructure and water access, which is another milestone to be achieved ahead of the commencement of mining and production operations.
The Chairman, John Lester said "Having now lodged applications for the final government approvals required prior to the commencement of mining operations at our flagship Kat Gap Gold Project, the Company continues to meet the key milestones required to formally transform Classic from an explorer to a miner. We look forward to updating shareholders as additional milestones are reached".
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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