Classic has successfully completed bulk sample mining at its Kat Gap project with the operation producing 1,011 ounces of contained gold.

This is right at the top end of the company’s forecast of between 645oz to 1,100oz of gold and could deliver revenues of about $2.6m at current gold prices.

Classic Minerals (ASX:CLZ) mined 6,504t of oxide ore at an average grade of about 4.82 grams per tonne (g/t) while total waste and ore produced came in at 48,970t.

Both waste and ore will be stockpiled separately while the topsoil has been stored for future rehabilitation.

Mining details

The ore zone, which came within 6m from surface and has an average width of about 5m, was mined down to a depth of 15m and a strike length of 50m.

The oxide ore consisted mainly of quartz veining and biotite alteration hosted entirely in the granite that made it easily distinguished from waste material.

Both footwall and hangingwall contacts were also very clear, making it easy to extract with minimal dilution.

Adding further interest, the ore zone was moderately thicker on the pit floor than predicted by the resource block mode.

Final metallurgical testwork on oxide samples from the bulk sample are underway together with geological and engineering studies based on observations taken from the pit.

These observations will assist in final pit design work.




This article was developed in collaboration with Classic Minerals, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.