Classic kicks off bulk sampling ahead of full-scale gold mining in Q1 2022
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Classic Minerals has officially started mining a bulk sample at the Kat Gap gold project in WA.
A portion of the current 93koz Mineral Resource, this bulk sample will target between 3,000 – 5000oz of ore at between 4 and 6g/t gold (between 350 and 1,000 contained ounces).
It will provide valuable geological, engineering, and metallurgical data prior to full scale mining and production, expected to occur within Q1 of 2022.
Processing of this bulk sample is an important step ahead of full-scale production activities, as it affords the company the opportunity to test and refine the Gekko plant, Classic (ASX:CLZ) says.
“With earthmoving equipment recently mobilised the Classic Minerals team was delighted to have been on site to witness the first turning of soil which will serve to further de-risk the project and give the company and its investors increased confidence in executing the greater mining operation which is on track for commencement in the 1st quarter of 2022,” chairman John Lester said.
In June, a “best ever” 592g/t gold intercept was returned from infill drilling at Kat Gap.
Additionally, deeper infill RC holes testing the oxide profile and much deeper holes testing the down-dip extent of the main granite-greenstone contact lode returned high grade hits.
Results such as 4m at 18.97g/t gold from 76m and 4m at 16.93g/t gold from 101m prompted Classic to urgently include the new intersections into the current resource model.
This urgency is driven by the fact that filling the gaps with gold mineralisation, which the infill drilling appears to have achieved, could drive pit designs deeper to allow access to more mineable gold-bearing ore.
In layman’s terms, this could mean that there’s more gold at Kat Gap than the current resource estimate of 93,000oz.
The company plans to return to Kat Gap to conduct further deeper drilling down-dip and down-plunge of the current inferred resource.
This will require the drilling of between 10 and 15 holes ranging in depths from 150m to 200m for a total of about 2,200m.
This article was developed in collaboration with Classic, 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.