Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Classic Minerals (CLZ) has received assay results from its most recent RC and diamond drilling program at the Forrestania Gold Project in WA.
  • Drilling results from Kat Gap continued to deliver significant zones of mineralisation located on the granite-greenstone contact
  • Results include 3 metres grading at 20.70 grams per tonne of gold from 39 metres and 6 metres grading at 4.84 grams per tonne of gold from 59 metre
  • Classic minerals remains steady on the market and trading at 0.4¢ per share

Classic Minerals (CLZ) has received assay results from its most recent RC and diamond drilling program at Forrestania Gold Project in Western Australia.

The Western Australian focused company has completed a total of 21 holes for 1,580 metres at the Kat Gap, 7 holes for 640 metres at Lady Magdalene and 3 holes for 270 metres at Stormbreaker.

The aim of the drilling was to increase known high-grade gold mineralisation.

Drilling results from Kat Gap continued to deliver significant zones of mineralisation located on the granite-greenstone contact.

Results include 3 metres grading at 20.70 grams per tonne of gold from 39 metres and 6 metres grading at 4.84 grams per tonne of gold from 59 metres.

Recent drilling at Kap Gap showed high-grade gold mineralisation projects down-plunge at depth. It is strategically located approximately 70 kilometres south-east of the company’s Forrestania Gold project containing the Lady Magdalene and Lady Ada gold resources.

RC drilling at Lady Ada/Magdalene also found several potential high-grade cross-cutting quartz lodes north of the Lady Ada open pit.

CEO Dean Goodwin says that Kat Gap keeps on growing both along the strike and at depth.

“I’m very pleased with the extended zones of ore-grade gold intersections along strike to the north together with the great results we are now starting to see down dip at depth,” he said.

“Only a small number of deep holes have been drilled at Kat Gap to date. These new results clearly demonstrate that the system has great potential to grow not only along strike but at depth as well,” he added.

Classic will continue the RC drilling programs extending the known mineralised zone further north and south from our current drilling area.

“The next RC program will focus not only on the northern strike but also the southern strike potential for at least 100 metres,” Dean told the market.

Classic minerals remains steady on the market and trading at 0.4¢ per share at 12:22 pm AEDT.

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

" Renascor Resources (ASX:RNU) upgrades Siviour MRE

Renascor Resources (ASX:RNU) has upgraded the mineral resource estimate for its Siviour graphite deposit in South…
The Market Herald Video

" Gold Road Resources (ASX:GOR) to snap up further interest in De Grey (ASX:DEG)

Gold Road Resources (ASX:GOR) agrees to snap up further interest in De Grey Mining (ASX:DEG) shares.
The Market Herald Video

" Dateline Resources (ASX:DTR) eyes $6.25m for Colosseum

Dateline Resources (ASX:DTR) has received firm commitments to raise $6.25 million via a share placement.
The Market Herald Video

" Mt Monger Resources (ASX:MTM) intersects broad REE mineralisation at Pt Kidman

Mt Monger Resources (ASX:MTM) has intersected broad rare earth element (REE) mineralisation at the Pt Kidman…