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Classic Minerals Ltd.
Summary
| Project: | Forrestania | |
|---|---|---|
| Deposit: | Lady Magdalene | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/22/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 22-3-2018: Classic Minerals Ltd. announces an Exploration/Drilling Update report for its Lady Magdalene deposit at the Forrestania project. Drilling results incl. 6.5m @ 3.30g/t Au from 56.5m. WA-focused gold exploration and development company Classic Mi | |
| 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 for the orientated diamond drilling completed at the Lady Magdalene deposit as part of the Phase 3 drilling program at the Company’s Forrestania Gold Project (“FGP”) in Western Australia. Both diamond holes targeting Lady Ada style high grade cross cutting gold structures have returned encouraging gold intercepts – these assays comprehensively support previous structural observations and confirm that Lady Ada style high grade cross cutting mineralisation exists within Lady Magdalene. Importantly, these 2 diamond holes, the first designed by Dean Goodwin since assuming the role of CEO of Classic, have intercepted gold mineralisation in the zones of interest – validating his theory regarding the likelihood of additional Lady Ada analogues within the current drill lines at Lady Magdalene. The diamond drill holes were primarily designed to collect structural data – allowing Classic to accurately determine the orientation of any high-grade zones that have been missed by previous explorers. This methodology was employed by Classic’s CEO, Mr Dean Goodwin, when he discovered the high-grade zones at Lady Ada in 1999. Prior to Dean’s theory at Lady Ada being tested, it was considered a low-grade deposit like Lady Magdalene is today | |
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