Classic waits on infill drill results to optimise Kat Gap pit design
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Classic is waiting on assay results from a final program of deeper reverse circulation drilling carried out prior to first production at its Kat Gap gold project.
The closely spaced 28-hole program totalling 2,548m over 120m of strike was carried out to provide resource model data for optimisation and final pit design work.
Classic Minerals (ASX:CLZ) says assays are expected by mid-June and that it remains on track to achieve first gold pour through the modular and transportable Gekko processing plant along with mining at full capacity by the end of August.
Chief executive officer Dean Goodwin says the completion of infill drilling is another significant milestone leading up to full-scale production.
The company also plans to carry out further step-out exploration programs in the coming months that could deliver additional resources for the open-ended deposit.
Kat Gap is 170km south of Southern Cross and has a current JORC resource of 92,869oz of gold grading 2.96 grams per tonne with gravity and conventional cyanide leach process proving between 95 and 96% recovery from both fresh and oxide samples.
Ore will be processed through the 30 tonne per hour Gekko plant, which can be scaled up to a Gekko Python-sized plant with processing capacity of 250tph if required.
Both Kat Gap and the company’s other project, Forrestania, are located within the highly prospective Forrestania Greenstone Belt, which has a gold endowment of more than 10Moz.
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.