Next Investors logo grey

Classic Minerals advances towards feasibility study at Kat Gap

|

Published 06-MAY-2020 11:08 A.M.

|

1 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

Western Australian gold exploration and development company Classic Minerals Limited (ASX:CLZ) has lodged a Mining Lease Application (MLA 74/249 ) at its 100% owned Kat Gap Gold Project covering the current resource at its exploration licences E74/422 and E74/467.

The company has completed the requirements relative to the application for the mining lease, and the application is supported by a mineralisation report and a supporting statement from an independent consultant which substantiate the reasons for mine development.

By way of background, Classic has a Mineral Resource of 8.2 million tonnes at 1.52 g/t for 403,906 ounces of gold with a Scoping Study suggesting both the technical and financial viability of the project.

In late April, the company established a maiden inferred mineral resource estimate of 1 million tonnes at 3 g/t gold for 93,000 ounces at Kat Gap.

Screen Shot 2020-05-06 at 11.00.04 am

Classic Minerals has completed the marking out of the mining lease boundary to provide accurate data to the Department of Mines, Industry, Regulation and Safety (DMIRS).

The supporting documents for the application have been lodged with the department.

The boundary of the mining lease application is shown below.

Kat Gap

The application for the mining lease is a significant step forward for the company as it begins to advance the project towards a detailed feasibility study over the coming months.

Management is now launching the required regulatory processes to have the mining lease granted.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.