Deep drilling delivers more high-grade gold hits for Classic

Classic’s deep drilling at the Kat Gap project has intersected several zones of high-grade gold mineralisation down plunge and along strike from previous results.

Notable intersections from the short 11-hole reverse circulation program were 1m grading 44.43 grams per tonne (g/t) gold from 146m within a broader 6m interval at 8.94g/t gold from 142m, 3m at 15.66g/t gold from 151m including 1m at 41.6g/t gold from 152m, and 5m at 3.47g/t gold from 155m.

Classic Minerals (ASX:CLZ) said the holes were aimed at testing the along strike and down dip extent of high-grade gold at Kat Gap and were drilled now to make the way clear for future surface mine infrastructure.

It added that besides the high-grade hits, most of the drilling intersected relatively narrow zones of low-grade gold suggesting the plunge component of the high-grade gold zone is potentially steeper than anticipated.

Two holes that returned high-grade intercepts were drilled further south and closer to the Proterozoic dyke than the other holes drilled in this program, indicating a steeper plunge.

Further deep drilling down dip/plunge is required closer to the Proterozoic dyke to test this new theory.

The company will carry out further deep drilling down dip and down plunge of the current inferred resource in late September.

This will consist of between 10 and 15 holes ranging in depths from 150m to 250m for about 2,800m of drilling.

Kat Gap project

Kat Gap currently has a resource of 93,000oz of gold though recent infill drilling aimed at testing a gap between previous shallow reverse circulation holes testing the oxide profile and much deeper RC holes have returned some encouraging results.

This could allow the company to drive pit designs deeper to allow access to more mineable gold-bearing ore, which could in turn increase resources.

Classic has also started mining a bulk sample at the project to provide geological, engineering, and metallurgical data.

Processing of this bulk sample, which targets between 3,000oz to 5000oz of gold is an important step ahead of full-scale production activities, as it affords the company the opportunity to test and refine the Gekko plant.

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.