Mining of Gold Bulk Sample Re-Commences at Kat Gap
Perth, Mar 3, 2022 AEST (ABN Newswire) - Classic Minerals Limited (
ASX:CLZ) is pleased to announce it has officially re-commenced bulk sample mining at its 100% owned Kat Gap Gold Project.
- Following recent receipt of mining approvals for a Bulk Sample at Kat Gap Gold project, Classic Minerals Ltd has officially commenced mining of the Bulk Sample with the first soil turned at Kat Gap in August 2021.
- Bulk sample mining was stopped shortly thereafter due to unseasonal weather conditions which made operations unsafe.
- The Bulk Sample will target between 5,000 - 7000 tonnes (t) of ore at between 4 and 6g/t Au for between 645 and 1,100 contained ounces of gold (Au).
- Main ore zone will be exposed for the first time in approx 2 weeks.
- Bulk sample pit should be finished by the end of March, weather permitting.
- This bulk sample ore material is a very small portion of the current 93koz Mineral Resource.
Approvals have been obtained to excavate up to 49,000t from the bulk sample at Kat Gap under the terms of the underlying (granted) Exploration tenure.
The processing of this ore sample will assist in calibration of mining and metallurgy parameters prior to full-scale mining and production from its Kat Gap gold project.
Processing of this bulk sample is an important step ahead of full scale production activites, as it affords the Company the opportunity to test and refine the Gekko plant.
Classic will look to process between 5,000 - 7000 tonnes (t) of ore at between 4 and 6g/t Au for between 645 and 1,100 contained ounces of gold (Au) which is worth between $1.67M to $2.86M at a gold price of $2600 AUD. The bulk sample is only a very small portion of the current 93koz Mineral Resource. Approvals have been obtained to excavate up to 49,000t from the bulk sample at Kat Gap under the terms of the underlying (granted) Exploration tenure.
Classic CEO Dean Goodwin said: I'm so excited about getting those earthmoving machines back to work on the bulk sample because in the next few weeks we'll finally get our first real look at the main ore zone. It's going to be one of those eureka moments. They don't come along very often in ones career so I can't wait. It's a proud moment for me and the rest of the team to see all that hard work that has gone into the drilling and resource work over these last few years come to fruition. It's a very emotional time.
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About Classic Minerals Limited
Classic Minerals Limited (ASX:CLZ) is an exploration and development company focused on gold deposits in Western Australia's famous Goldfields region. In March 2017, Classic acquired the Forrestania Gold Project, with seven tenements stretching across 450km2. Strategically located in a very prospective region, the FGP is an underexplored package surrounded by multimillion ounce deposits such as Bounty (2Moz) and Yilgarn Star (1.5Moz).
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