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Classic Minerals Ltd.
Summary
| Project: | Forrestania | |
|---|---|---|
| Deposit: | Forrestania | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/15/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 15-5-2018: Classic Minerals Ltd. announces an Exploration/Drilling Update report for its Forrestania deposit at the Forrestania project. Drilling results incl. 5m @ 14.10g/t Au from 17m. WA-focused gold exploration and development company Classic Minerals | |
| Resources: | (Resource): 2.112Mt @ 1.17g/t Au (Ind.) and 3.251Mt @ 1.53g/t Au (Inf.) at project | |
| CP/QP: | [Overall Report]: Dean Goodwin (Reliant Resources Pty Ltd.) | |
| ABSTRACT: | WA-focused gold exploration and development company Classic Minerals Limited (ASX. CLZ) ("Classic", or "the Company") is pleased to announce that it has received assays results from its recent RC drilling program at its Forrestania Gold Project (FGP) in Western Australia. The Company drilled a total of 11 holes for 750m - 2 holes for 174m at new prospect Van Uden West, 5 holes for 366m at Lady Lila, and 4 holes for 210m at Kat Gap; with the aim of uncovering a new gold system (at Van Uden West) and improving/increasing known mineralisation at Lady Lila and Kat Gap. Drilling results from Van Uden West confirms the discovery of a significant new zone of gold mineralisation. Preliminary interpretation suggests that the prospect is similar in geological characteristics to Kat Gap with gold mineralisation sitting adjacent to the granite/greenstone contact. Lady Lila is a BIF hosted gold deposit that is similar in geological characteristics to Bounty and Blue Vein (held by KDR) which are prolific, high grade gold deposits in the region. Drilling at Lady Lila confirmed the existence of a thick, steep east dipping ore zone warranting additional follow up. Kat Gap contains a shallow unmined gold deposit discovered in the 1990s, which was the subject of resource estimations and scoping study by Sons of Gwalia in 2003. High grade RC drill intercepts include 15 m @ 15.1 g/t Au from 39 m depth and 6 m @ 19.1 g/t from 17 m depth. The open-ended deposit lies within a 5 km long geochemical gold anomaly that has seen very little drill testing, and after this drill program, Classic sees great potential for the discovery of a substantial shallow high-grade gold deposit within the Kat Gap project area. Drill/assay highlights shown in table below: | |
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