Classic Minerals Limited: Kat Gap Processing Facility Construction Update
21.12.2022 | ABN Newswire
Perth, Australia - WA-focused gold exploration and development company Classic Minerals Ltd. (ASX:CLZ) (FRA:2I7) (OTCMKTS:CSMRF) is pleased to report that construction activities are continuing at the Kat Gap processing facility over the Christmas break.Classic Minerals has achieved an estimated 25% completion of the construction of the Kat Gap processing facility.
Following the arrival of the first dozer to the mine site in October 2022 and having obtained all the requisite regulatory approvals, stripping, and stockpiling of vegetation and topsoil commenced on 20 October 2022. These activities are a precursor to the commencement of mining earthworks.
Site construction is progressing on surface earthworks with heavy machinery building and constructing TSF, internal roads, waste rock dumps, ROM pads, office and administration area pads and workshop areas.
Classic estimates earthworks completion, final testing leading to the first commercial production during the first quarter of 2023.
The stage 1 TSF is approved to hold up to 70,000 tonnes of tailings with capacity for intense cyanidation recovering up to 96% gold from the Kat Gap ore. Classic has also acquired six Cyanide Leaching Tanks (CIL), which are being positioned and installed at the processing site. The CIL capability will provide ~96% recovery of gold from Kat Gap ore.
The Company looks forward to providing regular updates to investors as the construction and commissioning program progresses over the next five months.
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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