Classic gets gold fever at Kat Gap
Clutching an armoury of excellent previous gold drilling results, Classic Minerals is now well and truly blooded and up for the hunt at Kat Gap near Southern Cross.
The ASX minnow has kicked off a new drilling campaign aimed at testing down-dip projections of high-grade mineralisation it previously intersected with drilling to focus on the 400 metres of strike to a depth of about 100m, double the average depth of previous holes.
Prior drilling at the project returned some intriguing intersections such as 10 metres grading an eye watering ounce to the tonne or thereabouts from just 28 metres down-hole, 7m @ 24.34g/t gold from 24m and 8m @ 19.04g/t gold from 82m.
Assay results from the current 1,700 metre campaign are expected later this month.
Chief Executive Officer Dean Goodwin said: “This latest round will be focused solely on Kat Gap which has delivered outstanding results from the previous five drill campaigns. Drilling will again focus on the main granite-greenstone contact of which only 400m of a total 3.5km of potential strike has been tested by the company.”
“We are planning to drill down dip from recent high-grade gold intercepts along the entire 400m of strike we have delineated so far.”
“Future drilling programs at Kat Gap will focus on testing an 800m long section of the main granite-greenstone contact … and also within the granite itself where previous geochemical surveying detected high grade gold near the surface.”
“The granite has been pretty well much overlooked by previous explorers. We are of the firm belief that significant gold mineralisation is lurking out in the granite.”
Classic acquired the Kat Gap project earlier this year for a total consideration of $250,000 and a 2% net smelter royalty on future production from Sulphide Resources.
The project is located about 70km south of Classic’s Forrestania gold project which holds 5.36 million tonnes grading 1.39g/t gold for nearly 241,000 ounces.
Classic Minerals (CLZ)
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