Classic Minerals Limited: Quarterly Activities Report
28.10.2021 | ABN Newswire
Perth, Australia - Classic Minerals Ltd. (ASX:CLZ) has made significant progress at Kat Gap during the quarter as it strives to become a gold producer.Highlights of the quarter include:
- Assay results returned for deep RC drilling testing beneath previously recorded fresh rock high-grade gold mineralisation at Kat Gap.
- Commenced first stage extraction of a 49,000t bulk sample at Kat Gap.
- Advancing engineering, mining, and metallurgical studies at Kat Gap, and
- IGO have made further progress at Classic's Fraser Range Project.
A total of 11 holes for 1,940 metres were drilled during the quarter by the Company.
RC drilling was focused solely on Kat Gap with work concentrating on the down dip extensions of previous high grade gold mineralisation into fresh rock.
Classic commenced mining of a 49,000t bulk sample in readiness for full scale production. The mining of this bulk sample will afford the Company the opportunity to test and refine the Gekko plant.
IGO have continued working on their recently identified high conductance discrete EM anomaly over the Thylacine and Sabretooth area (now known as the Moa target) within a broader stratigraphic conductor.
The development of the Forrestania Gold Project will continue to advance in Q FY2021 concentrating on:
- Drilling priority targets out in the granite within the large auger soil gold anomaly west of the main granite-greenstone contact at Kat Gap;
- Continue extraction of the 49,000t bulk sample;
- Advancing all aspects of the mining plan at Kat Gap;
- Acquisition of necessary mining equipment for Kat Gap, and
- Continuing to raise capital & pay down debt & liabilities to improve the financial position of the Company.
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About Classic Minerals Limited:
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