Classic Minerals Limited (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 infill RC drilling testing the gap between oxide and deeper fresh rock high-grade gold mineralisation 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 29 holes for 2,588 metres were drilled during the quarter by the Company.
RC drilling was focused solely on Kat Gap with work concentrating on filling in the gap created artificially between shallow drilling of the oxide profile and deeper drilling for the down dip extensions into fresh rock. If the gap could be filled in by zones of higher-grade gold mineralisation, then the final optimisation work may drive pit designs deeper allowing the Company to access more minable ounces.
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 Q4 FY2021 concentrating on:
- Targeting the interpreted plunge component of high-grade gold mineralisation with deeper RC drilling;
- Drilling priority targets out in the granite within the large auger soil gold anomaly west of the main granite-greenstone contact at Kat Gap;
- 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.
To view the full quarterly report, please visit:
Classic Minerals Ltd T: +61-8-6305-0221 E: email@example.com WWW: www.classicminerals.com.au
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