Classic goes bulk route at Kat Gap as mining milestone looms
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Classic Minerals is one step closer to gold production, having been approved to mine a bulk sample at its Kat Gap project in WA.
The state’s Department of Mines, Industry Regulation and Safety (DMIRS) approved Classic’s (ASX:CLZ) request for the sample, during which the company expects to expose between 3000 and 5000 tonnes of ore at 4-6 grams per tonne gold for 350-1000 contained ounces.
The activity will assist in the calibration of mining and metallurgy parameters at Kat Gap.
The materials to be mined make up part of Kat Gap’s 93,000oz mineral resource.
Classic has DMIRS excess tonnage and Native Title approval to excavate up to 49,000t from Kat Gap under the terms of the underlying exploration tenure and has received approval of a project management plan from state government engineers.
Classic said the bulk sample program was being undertaken to further de-risk the project and give the company and its investors increased confidence in executing the greater mining operation.
The three key reasons for bulk sampling were outlined as follows:
Classic is targeting first gold pour at Kat Gap, part of the broader 403,000oz Forrestania gold project, by the end of August.
Classic also recently received commitment from Independence Group to spend a further $1.5 million over two years at the pair’s Fraser Range JV project.
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.