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Classic Minerals (ASX:CLZ) - CEO, Dean Goodwin - The Market Herald
CEO, Dean Goodwin
Sourced: Classic Minerals
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  • Gold exploration company Classic Minerals (CLZ) has recommenced reverse circulation drilling at its Forrestania Gold Project in Western Australia
  • This program will consist of up to 2000 metres of drilling and will focus on the Van Uden West, Matrix, and Tangerine Tree prospects
  • Results are expected in early June
  • Meanwhile, Classic's Kat Gap Gold Deposit is being evaluated by the Department of Mines, Industry, Regulation, and Safety
  • Classic shares are grey on the market today and are trading for 0.2 cents each

Gold exploration company Classic Minerals (CLZ) has recommenced reverse circulation (RC) drilling at its Forrestania Gold Project.

The Forrestania Gold Project is located approximately 120 kilometres south of Southern Cross in Western Australia and it covers an area of 450 square kilometres.

Classic has previously completed a number of drilling programs at Forrestania, focusing on the Lady Ada and Lady Magdalene prospects.

These programs, which consisted of 54 holes for 7500 metres, added significant ounces to Forrestania's resource inventory.

RC drilling was also undertaken at Van Uden West a few years ago.

Approximately two RC holes were drilled, for 172 metres, with the aim to follow-up on anomalous gold results that were returned from historical reconnaissance drilling.

Despite unearthing a significant intercept of 12 metres at 5.75g/t gold from 59 metres, no follow-up drilling has been completed at Van Uden West since.

This newly restarted drilling program will consist of up to 2000 metres of RC drilling and will focus on the Van Uden West, Matrix, and Tangerine Tree prospects.

Assays results from this drilling program are expected in early June.

Meanwhile, Classic's Kat Gap Gold Deposit is being evaluated by the Department of Mines, Industry, Regulation, and Safety.

"Over the past 12 months we have been concentrating all our efforts at Kat Gap, which won't be slowing down, but we also need start looking at some of our high priority targets in the hunt for higher-grade gold resources in the Forrestania area," CEO Dean Goodwin said.

"There is no doubt in my mind that this is a major gold camp containing significant undiscovered resources and we are on the right path to discover and delineate these ore bodies," he added.

Classic shares are grey on the market today and are trading for 0.2 cents each at 1:36 pm AEST.

CLZ by the numbers
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