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Classic Minerals Ltd.
Summary
| Project: | Forrestania | |
|---|---|---|
| Deposit: | Kat Gap | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 12-12-2018: Classic Minerals Ltd. announces an Exploration/Drilling Update report for its Kat Gap deposit at the Forrestania project. Drilling results incl. 3m @ 38.33g/t Au from 21m. WA-focused gold exploration and development company Classic Minerals Li | |
| 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 completed a total of 23 holes for 1,155m at the Kat Gap project with the aim of improving/increasing known high-grade gold mineralisation. Drilling results from Kat Gap continued to impress with significant zones of gold mineralisation located on the granitegreenstone contact. Recent drilling at Kat Gap also showed that high-grade gold mineralisation projects very close to surface. Classic CEO Dean Goodwin said: The Forrestania Gold Project just keeps on getting better and better delivering more great results for Classic and its shareholders. I’m very excited about these shallow high-grade zones of mineralisation we have encountered. They clearly demonstrate that significant gold mineralisation is located just beneath the surface. If these shallow high-grade zones continue along strike for several hundreds of metres, they will have a major impact on the economics of any future open pit mining operation. The next stage for Kat Gap is to commence an aggressive RC drilling program extending the known mineralised zone north and south from our current drilling area. The plan is to focus our attention on an 800m long section of the main granite-greenstone contact where existing historical drilling is on 100m spaced lines. Our current drilling area sits right in the middle of this 800m long section. We are of the firm belief that significant gold mineralisation is lurking between these lines similar to what we have seen during the last 4 drilling programs This work should give us a pretty good idea of how good this system really is. A few deep diamond holes will also be incorporated into the program to probe at depth 200-300m below existing drill coverage. If we start seeing significant zones of gold mineralisation in these holes then the game is on. | |
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