Classic Minerals Ltd: RC Rig Drilling Again At Kat Gap

Perth, Australia - WA-focused gold exploration and development company Classic Minerals Ltd. (ASX:CLZ) ("Classic", or "the Company") is pleased to announce that it has recommenced RC drilling at its 100% owned Kat Gap Gold Project covering exploration licences E74/422 and E74/467.

Highlights:

- 1700m of RC drilling underway at Kat Gap after highly successful campaign in July 2019;

- Assay results expected late August;

- Drilling to test down-dip projections of Kat Gap high grade mineralisation on the granite-greenstone contact over the 400m of strike already tested by the Company;

- Previous RC drilling by Classic at Kat Gap has returned outstanding high-grade gold intercepts from shallow depths including:

5m @ 14.10g/t Au from 17m in FKGRC001
12m @ 7.52g/t Au from 39m in FKGRC006
8m @ 19.05g/t Au from 32m in FKGRC008
8m @ 7.14g/t Au from 82m in FKGRC010
12m @ 5.39g/t Au from 30m in FKGRC012
4m @ 9.53g/t Au from 70m in FKGRC014
10m @ 30.78g/t Au from 28m in FKGRC018
10m @ 4.18g/t Au from 26m in FKGRC022
9m @ 8.08g/t Au from 95m in FKGRC025
10m @ 8.17g/t Au from 7m in FKGRC059
7m @ 24.34g/t Au from 24m in FKGRC060
9m @ 15.21g/t Au from 22m in FKGRC061

Classic CEO Dean Goodwin said:

Following on from the great results of our last drilling program, including multiple high-grade gold hits close to the surface, extensions at depth down dip and along strike to the north, we are very excited to be heading back to Kat Gap so soon to undertake more follow up drilling. This latest round will be focused solely on Kat Gap which has delivered outstanding results from the previous 5 drill campaigns. Drilling will again focus on the main granite - greenstone contact of which only 400m of a total 3.5km of potential strike has been tested by the Company.

We are planning to drill down dip from recent high-grade gold intercepts along the entire 400m of strike we have delineated so far. To date we have only affectively tested down to an average depth of 50m vertical below surface. This program is designed to probe 100m below surface.

Future drilling programs at Kat Gap will focus on testing an 800m long section of the main granite - greenstone contact where current drill line spacings are 100m apart and also within the granite itself where previous geochemical surveying detected high grade gold near the surface. The granite has been pretty well much overlooked by previous explorers. We are of the firm belief that significant gold mineralisation is lurking out in the granite.

To view tables and figures, please visit:
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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