Classic Minerals (ASX:CLZ) Extracts Over 1,000 Ounces of Gold from Kat Gap Bulk Sample – The Market Herald
- Gold explorer focused on WA Classic Minerals (CLZ) extracts 1011 ounces from its bulk sample mining operating on its Kat Gap gold project
- This came from 6504 ounces of gold bearing ore, with an average grade of 4.82 grams of gold per ton
- The ore zone was discovered within six meters of the surface, it was then mined over 15 metres, before being mined over a length of 50 metres, with an average width of around five metres.
- Advanced metallurgical testing has begun on the ore, and geological and engineering studies have begun which will aid in the design of the final pit.
- CLZ shares last traded at 0.1 cents
Classic Minerals (CLZ) has mined over 1,000 ounces of gold from its bulk sample operation at its Kat Gap gold project in Western Australia.
A total of 48,970 tonnes of waste rock and ore were dug, yielding 6,504 ounces of gold ore.
The average gold grade was 4.82 grams per tonne (g/t) (the company anticipating grades of approximately 5 g/t), giving a final result of 1,011 ounces of gold.
Classic says it discovered the ore zone within six meters of surface, which was then mined to a depth of 15 meters, before being mined over a strike length of 50 meters, with an average ore width of about five meters.
The ore consisted mainly of quartz veins and “entirely granite-hosted biotite alteration”.
The company says waste and ore were stored separately and topsoil was separated for use in future rehabilitation. Additionally, the majority of the overburden was moved to a “designated waste dump”.
Advanced metallurgical testing has begun on the ore, and geological and engineering studies have begun which the company says will help facilitate final pit design work.
CLZ shares remain unchanged at 0.01 cents at 11 a.m. AEST.