Classic Minerals Ltd: September 2018 Quarterly Activity Report
29.10.2018 | ABN Newswire
Perth, Australia - During the quarter, Classic Minerals Ltd. (ASX:CLZ) completed another very successful drill campaign at the Forrestania Gold Project ("FGP") in Western Australia returning consistently high-grade results. The results of this and previous campaigns, is providing increasing confidence for the Company to expand the current Mineral Resource estimate at FGP.The Company is looking forward to continuing its developments at the Forrestania Gold Project and Fraser Range during the 2nd Quarter (Oct - Dec 2018) and aims to:
- Continue focussed and targeted drilling at FGP, particularly at Kat Gap and Lady Magdalene.
- Further advance interpretation and discovery of significant new zones of gold mineralisation within the granite at Kat Gap, previously thought to be barren.
- Advance understanding of how overprinting Lady Ada - style gold mineralisation can be used to upgrade the resource at Lady Magdalene, having demonstrated the existence of a number of high-grade, cross-cutting gold lodes previously missed due to the wide spaced drilling.
- Continue drilling regional exploration targets at FGP including the Van Uden West prospect and the Lady Lila and Kat Gap deposits.
- Continue to explore the lithium potential at Kat Gap and Classic's Forrestania tenements.
- Carry out additional sampling and mapping at Fraser Range following data review that yielded high grade cobalt rock chip samples.
- Continue to pay down debt/liabilities.
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About Classic Minerals Ltd:
Classic Minerals Ltd. (ASX:CLZ) is an exploration and development company focused on gold deposits in Western Australia's famous Goldfields region. In March 2017, Classic acquired the Forrestania Gold Project, with seven tenements stretching across 450km2. Strategically located in a very prospective region, the FGP is an underexplored package surrounded by multimillion ounce deposits such as Bounty (2Moz) and Yilgarn Star (1.5Moz).
Source:
Classic Minerals Ltd.
Contact:
Classic Minerals Ltd. T: +61-8-6305-0221 E: contact@classicminerals.com.au WWW: www.classicminerals.com.au
