Classic is closing in on becoming Australia’s next gold producer with construction of the Tailings Storage Facility (TSF) at the Kat Gap Gold Project in Western Australia now 45% complete.

With key approvals in place for the installation and use of the Gekko processing plant and $20.5m in funding secured for the execution of Phase-1 development, Classic Minerals (ASX:CLZ) is well on its way to achieving production status by the end of Q1, 2023.

The focus of work is now on raising the walls of the TSF, under the supervision of resource engineering consultants, as it inches closer to final testing and completion.

CLZ says the liners for the TSF, as well as rolls of water pipe, recently arrived on site and should be placed in the TSF by the beginning of March.

Recent drilling

In January, Classic extended mineralisation at Kat Gap – which hosts a current resource of 8.24 million tonnes at 1.52 grams per tonne gold for 403,906oz of contained gold – after drilling returned high-grade gold beneath existing shallower mineralisation.

Some of the top results from the extensional reverse circulation drill program are 10m grading 9.26 grams per tonne (g/t) from a down-hole depth of 57m including 3m at 28.3g/t gold from 57m and 6m at 12.12g/t gold from 70m including 1m at 51.1g/t gold from 70m.

Results from the 15-hole program, which was intended to test for potential down dip open pit mineable material below existing high grade shallower gold mineralisation, highlight the potential to discover further mineable ore material.

 

 

 

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.

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