Gold exploration and development company Classic Minerals Limited (ASX. CLZ) has received positive assays results from its most recent RC and diamond drilling program at its Forrestania Gold Project (FGP) in Western Australia.
The company has now completed a total of 21 holes for 1,580m at the Kat Gap project, seven holes for 640m at Lady Magdalene and three holes for 270m at Stormbreaker with the aim of improving/increasing known high-grade gold mineralisation.
Classic CEO Dean Goodwin said drilling results from Kat Gap continued to deliver with significant zones of gold mineralisation located on the granite- greenstone contact.
Mr Goodwin said recent drilling at Kat Gap also showed that high-grade gold mineralisation projects down-plunge at depth. Kat Gap is strategically located approximately 70km south-south east of the Company’s Forrestania Gold project containing the Lady Magdalene and Lady Ada gold resources.
RC drilling at Lady Ada/Magdalene also detected several potential high-grade cross-cutting quartz lodes north of the Lady Ada open pit. Both quartz veins were intersected at shallow depths in the leached profile approximately 15-20m below surface.
“Kat Gap keeps on growing both along strike and at depth. I’m very pleased with the extended zones of ore- grade gold intersections along strike to the north together with the great results we are now starting to see down dip at depth,” Mr Goodwin said.
Only a small number of deep holes have been drilled at Kat Gap to date. These new results clearly demonstrate that the system has great potential to grow not only along strike but at depth as well. The northern extension RC drilling focused on testing the granite-greenstone contact at shallow depths down to only 50m vertical below surface. If these ore-grade zones continue further north, then we could be looking at strike lengths in-excess of 600-700m.”
Mr Goodwin said the next stages for Kat Gap is to continue RC drilling programmes extending the known mineralised zone further north and south from our current drilling area.
“We have neglected the southern strike potential south of the Proterozoic dyke. There is no geological reason why the gold mineralisation should be any different on the south side, we just worked on the north side because the gold grades were slightly better.
“The next RC programme will focus not only on the northern strike but also the southern strike potential for at least 100m. If we have similar numbers south of the dyke then we could be looking at something really special with strike lengths in-excess of 800m in total. Deeper holes will also be incorporated into the next few programs to probe at depth 200-300m below existing drill coverage.”
Mr Goodwin said RC drilling at Lady Ada also showed great potential for further high-grade cross-cutting lodes north of the existing pit.
“Although the quartz lodes intersected returned relatively low-grade values, they are very significant in the fact that quartz veins intersected historically at Lady Ada at the same depth also contained low-grade values but projected down at depth forming the high-grade sapphire lode.”
Future drilling programmes at Kat Gap will focus mainly on testing the main granite – greenstone contact further north and south along strike from the current drilling area. The next RC drilling programe will test the northerly and southerly extensions for another 100m along strike. RC Drilling will also probe at depth below the current shallow holes along the entire 500m of strike delineated by Classic to date.
Mr Goodwin said Classic has planned follow up RC holes with drilling scheduled for mid-December.