Classic Minerals has only one hurdle left to clear now to develop its Kat Gap gold mine near Southern Cross after being given a permit to clear native vegetation for its mine and processing plant in WA’s goldfields. The company only needs regulatory approval for its mining proposal now including the mine closure plan before it can kick its operation into gear.
Classic commenced trial mining late last year at Kat Gap with a 49,000 tonne bulk sample at Kat Gap in anticipation of regulatory approval and full-scale production.
It brought in a mobile Gekko gold processing plant in mid-2021 and eked out some early metallurgical results in order to finetune the operation.
Backing up its decision to greenlight the Kat Gap mine was some strong exploration results. Best numbers include a cracking 1metre interval going 44.43 grams per gold within a wider 6m intersection grading 8.94 g/t gold from 142m. Another hole delivered a solid 3m intercept going 15.66 g/t gold from 151m, which also included 1m at an eye-catching 41.60 g/t gold, well above an ounce to the tonne.
Other notable results include 5m at 3.47 g/t gold from 155m, 1m at 8.68 g/t gold from 103m and 2m at 4.87 g/t gold from 145m.
The company says this all gives it a total inferred mineral resource of 975,722 tonnes at 2.96 grams per tonne for 92,8556 ounces of gold.
Classic Minerals Chairman John Lester said: “The receipt of the Native Vegetation Clearing Permit at Kat Gap brings us another step closer to commence full scale mining operations at Kat Gap.
In the interim, the Company will recommence the Bulk Sample operation to provide valuable material properties to enable us to configure the Gekko plant to operate at maximum efficiency.”
Elsewhere Classic says its partner, IGO, is reviewing all geophysics, drilling and geochemical data relating to its farmin agreement for Classic’s Fraser Range nickel copper project, only 40km from the world-class Nova-Bollinger nickel mine. IGO can earn up to 75 per cent by way of farmin or elect for a total buyout with an attached royalty.
Classic has its foot on another advanced exploration play at its Forrestania gold project too where it holds 80 per cent. It boasts two JORC compliant mineral resource estimates for the Lady Ada and Lady Magdalene orebodies of 7.27 million tonnes at 1.33 g/t for 311,050 ounces of gold.
This year could well be one of major growth for Classic with the imminent approval of its mining plan. It already has the treatment plant on site and is running it through its paces ready for the final green light from government to start cranking out the yellow ounces.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
