Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Classic Minerals (CLZ) sees the first 10 holes from a drilling program at its Kat Gap project in WA return high-grade gold intercepts
  • The holes were drilled for a total of 555 metres, forming part of a 109-hole program which will take place over the next four to six weeks, pending weather conditions
  • Each of the initial ten holes returned high-grade gold intercepts, with results including three metres at 13.23 g/t from 32 metres
  • The program is hoped to add additional mineable ounces and a potentially larger final open pit design to the project
  • Classic Minerals last traded at 3.7 cents on August 2

Classic Minerals (CLZ) has seen the first 10 holes from a drilling program at its Kat Gap project in WA return high-grade gold intercepts.

The company has started receiving assay results from an extensive infill reverse circulation drilling program at the Kat Gap project, where 10 holes were completed for a total of 555 metres.

These holes form part of a 109-hole program, which will be drilled for a total of 7110 metres over the next four to six weeks, pending weather conditions. This covers an area 300 metres along strike to the north of the Proterozoic dyke, and 200 metres north along strike from the company’s recent bulk sample mining operations.

Each of the initial ten holes returned high-grade gold intercepts, with results including three metres at 13.23 grams per tonne (g/t) gold from 32 metres, including one metre at 17 g/t gold from 34 metres.

Further results included five metres at 7.36 g/t gold from 42 metres, including two metres at 14.2 g/t gold from 42 metres.

The program is hoped to add additional mineable ounces and a potentially larger final open pit design to the project.

The remaining assay results will be released as they become available.

Classic Minerals last traded at 3.7 cents on August 2.

CLZ by the numbers
More From The Market Herald
The Market Herald Video

" Caprice Resources (ASX:CRS) intersects shallow gold at Island Gold Project

Caprice Resources (ASX:CRS) intersects shallow gold mineralisation at its first reverse circulation drilling program at the…

" Orion Minerals (ASX:ORN) raises $1.35m in SPP

Orion Minerals (ASX:ORN) has raised $1.35 million in its share purchase plan (SPP) to advance its…

" Future Metals (ASX:FME) to raise $5.5m for Panton

Future Metals (ASX:FME) has received firm commitments for a heavily oversubscribed $5 million placement.

" Firebird Metals (ASX:FRB) raises $3.5m to accelerate Oakover development

Firebird Metals (ASX:FRB) has received firm commitments to raise $3.5 million via a placement from sophisticated…