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Classic Minerals Ltd.
Summary
| Project: | Forrestania | |
|---|---|---|
| Deposit: | Lady Ada, Lady Magdalene | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 8-2-2018: Classic Minerals Ltd. announces an Exploration/Drilling Update report for its Lady Ada, Lady Magdalene deposit at the Forrestania project. Drilling results incl. 4m @ 37.30g/t Au from 116m. WA-focused gold exploration and development company Cla | |
| Resources: | (Resource): 2.112Mt @ 1.17g/t Au (Ind.) and 2.711Mt @ 1.6g/t Au (Inf.) at Lady Magdalena & Lady Ada | |
| 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 advise that it has received further assay results from holes drilled at the Lady Ada and Lady Magdalene deposits as part of the Phase 2 drilling program at the Company’s Forrestania Gold Project (“FGP”) in Western Australia. MARC023 was a standout hole at Lady Ada which yielded very impressive, high grade gold mineralisation (76.8 g/t) at a relatively shallow depth (116m) in an area that is outside of the current optimised pit design. Drilling at Lady Magdalene saw impressive thick zones of mineralisation including MARC052 which had an intersect of 16m @ 1.73 g/t Au from 40m in an area that is outside of the current optimised pit design. Following promising results from MARC026, MARC024 and MARC019, the Company was pleased to see repetitions of gold bearing zones at similar depths representing a high grade zone that appears to be increasing in grade to the south (compare MARC024 to MARC023). These results confirm the geological model that the primary Lady Ada ore zone extends to the south-east of the existing ore body. The extent of the mineralisation remains open and is yet to be closed off – Classic drilled a hole (MARC039) approx. 200m along strike from MARC023 and MARC024 that is yet to be assayed but included promising zones of arsenopyrite which appears to represent ore-bearing zones. | |
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