24/08/2021 - 15:51

Ounce plus dirt for Classic at Kat Gap

24/08/2021 - 15:51

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ASX-listed gold developer, Classic Minerals has nailed multiple high-grade gold intercepts from depth extension drilling at its Kat Gap project 170km south of Southern Cross in WA. Best numbers include a cracking 1m interval going 44.43 g/t gold within a wider 6m intersection grading 8.94 grams per tonne gold from 142m. Classic recently commenced trial mining at Kat Gap in anticipation of full-scale production planned for next year.

Drilling at Classic Minerals’ 100 per cent owned Kat Gap project in WA. Credit: File

ASX-listed gold developer, Classic Minerals has nailed multiple high-grade gold intercepts from depth extension drilling at its Kat Gap project 170km south of Southern Cross in WA. Best numbers include a cracking 1m interval going 44.43 g/t gold within a wider 6m intersection grading 8.94 grams per tonne gold from 142m. Classic recently commenced trial mining at Kat Gap in anticipation of full-scale production planned for next year.

Another hole delivered a solid 3m intercept going 15.66 g/t gold from 151m, which also included 1m at an eye-catching 41.60 g/t gold, well above an ounce to the tonne.

Other notable results include 5m at 3.47 g/t gold from 155m, 1m at 8.68 g/t gold from 103m and 2m at 4.87 g/t gold from 145m.

The results come on the back of an 11-hole reverse circulation campaign that tested for strike and down-dip extensions of the high-grade gold mineralisation at the project.

The holes were drilled to an average depth of 150m for a combined 1,940m of drilling, targeting an area along strike to a Proterozoic dyke.

Management says the two holes that returned 1m intercepts at more than 40 g/t gold were drilled closer to the Proterozoic dyke than the other holes. The company now theorises a steeper plunge of mineralisation than previously thought, with drill testing closer to the dyke now required to test its theory.

The new results add to other outstanding intercepts from infill drilling at the project last year where a gap between known mineralised zones was targeted.

Results from the 2020 program include 4m at 16.93 g/t gold from 101m, which also took in a bumper 1m interval going 58.40 g/t gold, or almost two ounces to the tonne in the same hole.

Another hole delivered 4m at 18.97g/t gold from 76m, including 2m at 33.75 g/t gold from 77m. Elsewhere drilling returned 6m at 7.72g/t gold from 78m, including 1m at 26.2 g/t gold from 83m.

The 100 per cent owned Kat Gap already weighs in with a 975,000-tonne resource going 2.96 g/t gold for some 93,000 ounces of the precious yellow metal.

Classic is set to get the rods turning again in the coming weeks when another 10 to 15 holes for 2,800m of drilling will test for down-dip and down plunge extensions to the Kat Gap resource. The holes will target gold at depths ranging between 150m and 250m.

The company plans to bring Kat Gap to full production in the first quarter of next year and recently launched a trial mining operation at the project.

Trial bulk sample mining will enable the company to fine tune its interesting and very affordable Gekko processing plant ahead of full-scale production. As part of the trial, Classic expects to process between 3,000 and 5,000 tonnes of ore grading between 4 g/t and 6 g/t gold to generate between 350 and 1,000 ounces of gold.

The start of trial mining marks a major milestone for the Perth-based company after only unveiling a maiden resource at the project in April last year.

Kat Gap forms a portion of the company’s broader 500 square kilometre Forrestania gold project tenure which also hosts the Lady Ada and Lady Magdalene gold deposits.

Classic has acquired 80 per cent of the gold rights on the Forrestania tenure which cover more than 50km of strike along the Forrestania greenstone belt.

Lady Magdalene and Lady Ada combine for 7.27 million tonnes going 1.33 g/t gold for about 310,000 ounces of the precious metal.

Classic appears to be well on track now in its quest to achieve full-scale gold production and its prospects seem to be growing by the day as the rods continue to hit pay dirt at Kat Gap.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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