Classic looks to stretch gold resource at Kat Gap

Classic Minerals has fired up the drill rig again at its 100% owned Kat Gap gold deposit near Southern Cross in WA with the dual aims of infilling its existing 92,856 oz resource and testing for extensions of the deposit. Classic will no doubt be looking to duplicate recent high-grade hits that returned double-digit grades up to a serious two ounces of gold to the tonne as it systematically runs the rig over Kat Gap.

The company said that 21 infill RC drill holes will target improved confidence in its resource modelling over a 100m strike length north of a Proterozoic-aged dyke that cross cuts the strike of the granite-greenstone contact that hosts the gold deposit.  All drill holes will test a depth range of 30-100m below surface and results will aid the open pit design work while the company awaits its mining lease approvals.

An additional 20 RC drill holes will also target a further 200m of strike length to the north and south, bringing the total targeted strike length of the Kat Gap gold system to over 800m.  Classic says the deposit currently remains open both to the north and the south.

Management has so far completed nine separate drilling campaigns that have delivered outstanding, high-grade gold intercepts from relatively shallow depths, generally less than 60m vertically below surface.

One of the best intercepts was a 3m hit grading two ounces to the tonne gold from only 36m, including a single metre grading a whopping 181g/t gold.  Another good result was a 10m hit at 8.17g/t from just 7m, including 1m going two ounces to the tonne gold.

Importantly, the maiden resource at Kat Gap does not include recent results from the northern-most and southern-most extents of the deposit that blew the proverbial socks off the deposit so expect to see some material upgrades once the new drill holes are assayed and integrated.

Classic Minerals CEO, Dean Goodwin said: “Drilling will again focus on the main granite – greenstone contact of which only 600m of a total 3.5km of potential strike has been tested by the Company.”

“The first program will focus on infill drilling 100m of strike north of the cross-cutting Proterozoic dyke as we increase the confidence of our current resource model in readiness for future open pit mining operations.”

“The south side of the dyke has received very little attention to date. The program is designed to probe between 40m and 90m below surface.”

Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au