Classic Minerals (ASX:CLZ) - CEO Dean Goodwin
CEO Dean Goodwin
Source: Classic Minerals
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  • Classic Minerals (CLZ) records highest-ever grade of gold from recent drilling at the Kat Gap Gold Project in Western Australia
  • One of the 29 holes drilled intersected 0.5 metres at 592 grams of gold per tonne (g/t) within 10 metres at 40.54g/t gold
  • Additionally, this drilling successfully intersected gold mineralisation zones in the gap that was being infilled
  • Looking ahead, Classic will drill 10 to 15 holes at the Kat Gap Project next month
  • Classic’s shares are up 50 per cent to trade at 0.2 cents at 11:43 am AEST

Classic Minerals (CLZ) has received assay results from an infill reverse circulation (RC) drilling program at its Kat Gap Gold Project in Western Australia.

The RC drilling program was completed last month and included 28 holes for 2548 metres, which covered an area approximately 120 metres along strike to the north of the Proterozoic dyke.

The company also drilled a single shallow RC hole to provide extra material for advanced metallurgical test work, and to assist with further research and development studies.

The infill holes aimed to test a gap that was created between previous shallow RC holes. If the gap could be filled in by gold mineralisation, then final optimisation work may drive pit designs deeper, which would allow access to more minable gold-bearing ore.

Positively for the company, drilling successfully intersected gold mineralisation zones in the gap between the previous shallow RC holes and deeper RC holes.

Infill results include four metres at 16.93 grams of gold per tonne (g/t) from 101 metres including one metre at 58.4g/t gold from 101 metres, six metres at 7.72g/t gold from 78 metres including one metre at 26.2g/t gold from 83 metres, and two metres at 10.73g/t gold from 74 metres including one metre 19.9g/t gold from 74 metres.

Importantly, the single RC hole returned 10 metres at 40.54 g/t gold from 26.5 metres including 0.5 metres at 592g/t gold from 28.5 metres. This is the highest-grade intersection ever recorded at Kat Gap.

Looking ahead, the company will conduct further drilling down dip and down plunge of the current inferred resource at Kat Gap. The program will kick off next month and will include around 10 to 15 holes for approximately 2200 metres.

Classic’s shares were up 50 per cent to trade at 0.2 cents at 10:44 am AEST.

CLZ by the numbers
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