Kat Gap Update Processing Facility
Perth, May 16, 2023 AEST (ABN Newswire) - Classic Minerals Limited (
ASX:CLZ) (2I7:FRA) (CSMRF:OTCMKTS) is pleased to provide an update on the progress of its gold processing plant. These facilities are currently under construction by IPS (Industrial Power Solutions Pty Ltd) and are on track to be commissioned this month, completing all construction requirements for Classic Minerals Ltd to commence gold production.
IPS is a renowned industry leader in constructing processing plants and has been working tirelessly to ensure the timely completion of the project. Classic Minerals Ltd is confident in their expertise and professionalism in delivering the project on time. The construction of the gold processing plant and TSF (Tailings Storage Facility) is a significant milestone for the company and marks a significant step towards achieving the goal of becoming a successful gold producer.
The gold processing plant is designed to process ore from the company's flagship Kat Gap Gold Project, located in Western Australia's goldfields. The plant is expected to have a processing capacity of up to 100,000 tonnes per annum, with the ability to expand as required.
The commissioning of the gold processing plant and TSF is a complex and critical process that requires close attention to detail, rigorous testing, and adherence to safety standards. Classic Minerals Ltd has worked closely with IPS throughout the construction process to ensure that all aspects of the facilities are designed, built, and tested to the highest specifications.
We would like to take this opportunity to thank IPS and our team of dedicated professionals for their hard work and commitment to delivering the project on time. We look forward to updating our shareholders on the progress of the commissioning and the performance of the processing plant once it is operational. We are excited about the future of Classic Minerals Ltd and the potential for the Kat Gap Gold Project to deliver significant value to our shareholders.
ABOUT THE FORRESTANIA GOLD PROJECT
The FGP Tenements (excluding Kat Gap) are registered in the name of Reed Exploration Pty Ltd, a wholly owned subsidiary of ASX listed Hannans Ltd (ASX:HNR). Classic has acquired 80% of the gold rights on the FGP Tenements from a third party, whilst Hannans has maintained its 20% interest in the gold rights. For the avoidance of doubt Classic Ltd owns a 100% interest in the gold rights on the Kat Gap Tenements and also non-gold rights including but not limited to nickel, lithium and other metals.
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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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