Classic Minerals is an emerging West Australian exploration company
Classic Minerals to commence Deep Drilling Program
SAM EM Survey Drives New Drilling Program
Share purchase plan extended to 6 June 2014
Classic is an Australian based exploration company with 178 km2 of tenements across 3 major regional exploration areas in Western Australia. Classic’s Flagship project is on Fraser Range 40 km NE of Sirius’ Nova & Bollinger discoveries, where Classic has discovered the Mammoth nickel-copper target, a new target style of magmatic nickel-copper mineralisation on the Fraser Range. Classic’s tenements are in areas with identified high grade nickel, copper, cobalt, manganese, gold, and base metal targets.
Building on early exploration successes at Fraser Range
Since listing on the ASX just 12 months ago, Classic Minerals has:
- Discovered the Mammoth Nickel Copper deposit – Mammoth is a new target style of magmatic nickel-copper mineralisation on the Fraser Range. Petrology on core and rock chip samples has confirmed that Mammoth has similar rock types and sulphide mineralisation to the Nova nickel-copper deposit. Drilling at Mammoth has so far proven the extension of the mineralisation to over 240m plunging north east.
- Discovered the Alpha Copper deposit – With a discovery hole of 1m of 1.95% Cu from 104m (FRRC001), drilling has intersected up to 20% sulphides in some samples with zones up to 12m thick. The mineralisation at Alpha has now been proven to extended to over 500m long by 100m wide, remaining open to north and east.
- Identified a major regional conductive target zone – Geophysics has recently helped identify a 6km conductive target zone running south west from Mammoth and hosting 10 key targets. Initial drilling into the first of these targets – A17 – has confirmed the existence of twin conductors showing iron nickel copper sulphide mineralisation.
Classic tenements cover a total area of 178 km2 collectively in the Eastern Goldfields, Murchison and Fraser Range Provinces of Western Australia and in areas with identified highly anomalous nickel, copper, cobalt, manganese, gold, base metal, and iron targets.View Project →
Located 160 km ESE of Kambalda and in the Fraser-Albany Mobile Belt, which further to the north hosts the 6.4 million ounce Havana and Tropicana gold deposits and 38 km to the south hosts the recently discovered and highly significant Sirius Resources NL Nova Nickel/Copper sulphide deposit. In this project which is highly prospective for copper, nickel, zinc and gold, Classic Minerals identified 7 high priority targets from 18 electromagnetic conductors. Drilling has successfully identified Mammoth and Alpha mineralisation and exploration of these and other targets continues.View Project →
Located in the Barrambie Greenstone Belt the project covers a historic underground gold mining operation with a small high grade gold deposit identified and further drilling would likely add to the gold resource potential of the area.View Project →
Located 75 km east of Kalgoorlie, prospective for detrital hematite, similar to a large alluvial deposit 5km to the west.Read more →