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Classic Minerals Ltd.
Classic Minerals Ltd.
Registriert in: Australien WKN: A0NA2L Rohstoffe:
Art: Originalaktie ISIN: AU000000CLZ3 Gold
Heimatbörse: Sydney/Melbourne Alternativ: -
Währung: AUD    
Symbol: CLZ.AX Forum:

Classic Minerals Limited: Multiple Drill Rigs Up And Running At Kat Gap

19.10.2022 | 23:27 Uhr | ABN Newswire
Perth, Australia - WA-focused gold exploration and development company Classic Minerals Ltd. (ASX:CLZ) (FRA:2I7) (OTCMKTS:CSMRF) is pleased to announce that it has commenced a program of deeper RC drilling in addition to the infill program at its Kat Gap Gold Project in Western Australia.

The program of deeper holes is designed to test the northern area of infill drilling where high grade near surface mineralisation was recently reported on. The program is made up of 20 holes for a total of 3,000m. The holes will be spaced on 40m sections with 20m spacing of holes on section. The aim of the drilling is to identify the down plunge extent of this near surface high grade gold mineralisation. If gold mineralisation continues to depth in this undrilled area, it could add additional mineable ounces and result in a potentially larger final open pit design.

These new deeper RC holes are targeting beneath recently received shallow high grade gold mineralisation returned from the northern area of the infill program including:

- 3m @ 13.23 g/t Au from 32m in FKGRC390.
- 5m @ 7.36 g/t Au from 42m in FKGRC397.
- 3m @ 7.04 g/t Au from 43m in FKGRC396.
- 2m @ 21.07 g/t Au from 33m in FKGRC407.
- 2m @ 17.20 g/t Au from 53m in FKGRC402.
- 3m @ 6.99 g/t Au from 42m in FKGRC411.
- 6m @ 5.55 g/t Au from 49m in FKGRC412.
- 10m @ 3.80 g/t Au from 50m in FKGRC407.
- 1m @ 47.50 g/t Au from 20m in FKGRC429
- 1m @ 23.90 g/t Au from 64m in FKGRC453
- 2m @ 14.86 g/t Au from 29m in FKGRC436.
- 6m @ 4.08 g/t Au from 48m in FKGRC426.

These deeper RC holes are in addition to the current infill drilling program which is drawing to a close.

Once all the infill and deeper RC drilling data has been compiled and added to the current JORC mineral resource a new block model will be generated and a final open pit design completed. The Company is working hard to complete these tasks in a timely manner with a final open pit design expected soon.

Geotechnical diamond drilling is also underway. This short 3-hole 336m program is required for pit wall angle optimisation. These holes will be included along with the previous four holes completed earlier this year in the final open design work.

The overall infill RC drilling program consisted of 109 holes for 7,110. Currently 85 holes for 5,085m have been completed to date. The remaining holes in the program should be completed in the next couple of weeks. Assay results will be released to the market as they become available.

About Classic Minerals Limited:

Classic Minerals Ltd. (ASX:CLZ) is an exploration and development company focused on gold deposits in Western Australia's famous Goldfields region. In March 2017, Classic acquired the Forrestania Gold Project, with seven tenements stretching across 450km2. Strategically located in a very prospective region, the FGP is an underexplored package surrounded by multimillion ounce deposits such as Bounty (2Moz) and Yilgarn Star (1.5Moz).

Classic Minerals Ltd.


Classic Minerals Ltd. T: +61-8-6305-0221 E: contact@classicminerals.com.au WWW: www.classicminerals.com.au

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