For thousands of other reports visit RSC's Mineral Intellingence Map
Classic Minerals Ltd.
Summary
| Project: | Forrestania | |
|---|---|---|
| Deposit: | Forrestania | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/21/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-3-2017: Classic Minerals Ltd. announces a Resource Estimation report for its Forrestania deposit at the Forrestania project. Mineral Resource Estimate Updated to Include Newly Acquired Tenements. Classic Minerals Limited (Classic or the Company) (ASX C | |
| Resources: | (Resource): 2.112Mt @ 1.17g/t Au (Ind.) and 3.251Mt @ 1.53g/t Au (Inf.) at project | |
| CP/QP: | [Resources]: Edward S. K. Fry (BGM Investments Pty Ltd.) | |
| ABSTRACT: | Classic Minerals Limited (Classic or the Company) (ASX Code: CLZ) is pleased to announce that it has now signed an agreement in respect to acquiring 100% of two tenements in the Forrestania region, which are contiguous to Classic’s Forrestania Gold Project (FGP). The tenements host the “Lady Lila” (formerly Violet Haze) gold deposit which has a Mineral Resource of 541kt @ 1.38g/t for 24,000 oz Au, reported and classified in accordance with JORC (2012). The Lady Lila Tenements are registered in the name of Fortuna SL Mining Pty Ltd. Classic has acquired 100% of the interest in the Lady Lila Tenements. For the avoidance of doubt Classic Minerals Ltd is acquiring a 100% interest in gold and non-gold rights on the Lady Lila Tenements including but not limited to nickel, lithium and other metals. Managing Director Mr Justin Doutch stated: Classic is very pleased to have entered into the agreement to acquire the Lady Lila tenements and valuable technical data. We believe there is significant scope to add to resource ounces and delineate another significant gold deposit similar in size to Blue Vein or Bounty – the similarities in geology are highly encouraging. In addition to the gold mineralisation, Classic’s field reconnaissance has also resulted in finding some outcropping pegmatites which may be prospective for lithium. We will be drill testing this at the earliest opportunity and will keep the market appraised of our exploration strategy and results. At this stage, the intent is to delineate a viable UG gold mine that can be incorporated into the current FGP scoping study. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report