Classic Minerals is rapidly transforming itself from an exploration company to a gold producer

Kat Gap ‘Company Builds’ Classic Minerals Into 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.

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.

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Corporate Governance

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Forrestania Gold Project: all the hallmarks of a significant gold project

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.

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Overview

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.

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Kat Gap Project

Classic’s flagship Kat Gap Gold Project has been the focus of the majority of its recent exploration effort and is strategically located some 170 km south of Southern Cross and also some 50 km south of the Company’s Forrestania Gold Project.

Kat Gap

Forrestania Gold Project

Classic’s Forrestania Gold Project is located approximately 120 km south of Southern Cross, Western Australia and contains the Lady Ada and Lady Magdalene deposits.

Forrestania

Fraser Range 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.

Fraser Range