Drill rig back at Classic Minerals’ Kat Gap gold project

By Jonathan Jackson. Published at Feb 17, 2020, in Small Caps

Classic Minerals (ASX:CLZ) has rolled the drill rig back to its 100% owned Kat Gap gold project, following highly successful drilling programs in November 2019 and January 2020.

Previous RC drilling at the West Australian project returned outstanding high-grade gold intercepts from shallow depths including:

Finfeed reported on the most recent results at Kat Gap in its 29 January article.

Read: Classic Minerals continues to discover deep high-grade gold intercepts at Kat Gap

The current Reverse circulation (RC) drilling program is now underway.

Classic Minerals is now undertaking a 3,500 metre campaign designed to follow-up previously tested, deeper down-plunge high-grade mineralisation on the granite-greenstone contact over a 200m strike adjacent to the cross-cutting Proterozoic dyke.

Drilling will also test a further 150m to the north, which will bring the overall potential strike length of the Kat Gap system to over 800m.

The company hopes to gain an understanding of the down-plunge orientation of high-grade gold mineralisation to aid in the planning of further RC drill holes on the south side of the Proterozoic dyke.

“We are excited to be back at Kat Gap to undertake more follow up drilling so soon after the great results of our last two drilling programs, including multiple high-grade gold hits close to the surface, extensions at depth down plunge and along strike south of the dyke,’ said Classic CEO Dean Goodwin.

“ This round will be focused solely on Kat Gap which has delivered outstanding results from the previous 8 drill campaigns. Drilling will again focus on the main granite – greenstone contact of which only 500m of a total 3.5km of potential strike has been tested by the Company.”

Classic is just 1/6th of the way through testing the current potential strike, giving the company a broad canvas to explore in this latest round of drilling.

“We are planning to drill down plunge of recent high-grade gold intercepts along a 200m section north of the cross-cutting Proterozoic dyke in an attempt to increase the width and strike length of this gentle northerly pitching shoot,” Goodwin said.

“RC drilling will also be carried out south of the dyke for around 200m and north along strike for 150m. The south side of the dyke has received very little attention to date. The program is designed to probe between 40m and 170m below surface.”

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!