Classic Minerals is on the fast track to becoming a gold producer
Classic Minerals is an exploration and development company transforming itself into a gold producer. It is focused on gold deposits in Western Australia’s famous Goldfields region at Forrestania and Kat Gap.
Options Cancellation Announcement
Notice of Annual General Meeting and Explanatory Statement
Classic Minerals Purchases Forrestania Tenements
Classic Minerals at a glance
- 403,906 oz
- 520 km²
- FY21 Drill Program
- 9,000 m
Located within Western Australia’s famous Goldfields, in the heart of WA Southern Cross Forrestania Greenstone Belt with a known gold endowment of >10Moz.
Fast track to gold production and early revenue stream
On-site processing at flagship Kat Gap Gold Project made possible with acquisition of Gekko Processing Plant and the option of initial toll treatment of ore.
Highly promising gold portfolio
Flagship Kat Gap Gold Project and the Forrestania Gold Project, which consists of the Lady Magdalene and Lady Ada Gold Projects.
Impressive gold mineralisation
With exceptional shallow high-grade gold demonstrated in recent drill holes, including 4m @ 76g/t Au with 1m @ 304g/t Au.
The right team
Headed by experienced structural Geologist, Dean Goodwin, who was responsible for discovering some of the key mineralised bodies within the Forrestania Greenstone Belt.
Significant exploration potential
Ongoing drill programs designed to increase Mineral Resource inventory. Significant exploration upside potential exists at all projects.
Classic’s flagship Kat Gap Gold Project has been the focus of the majority of its recent exploration effort. To facilitate early gold mining and processing, the Company on July 20 announced that it has purchased a Gekko on-site processing plant. The Australian made Gekko processing system is a transportable modular design that is scalable and is perfectly suited to the Kat Gap mineralisation. Also, the company is in discussions to generate an early revenue stream by initial toll treatment of ore. Classic aims to have the capability to commence production as soon as the mining approvals and a clearing permit have been granted.
The Forrestania Gold Project contains an existing Mineral Resource of 5.9Mt at 1.25g/t for 240,000 ounces of gold, classified and reported in accordance with the JORC Code (2012), with a recent Scoping Study indicating both the technical and financial viability of the project. The FGP gold assets include a high grade open pit mined by Sons of Gwalia – formerly Australia’s third-largest gold producer – in the early 2000s.