Classic Minerals is an Australian based gold explorer with the goal of commencing a first small scale gold production in 2021 to fund the project portfolio from its own cash flow.
Classic Minerals' Lady Ada, Lady Magdalena and Kat Gap projects are located along the Forrestania greenstone belt on the infamous Yilgarn Craton in Western Australia, where many high-grade gold mines and deposits are located.
Classic Minerals is targeting early gold production there due to near surface mineralization and excellent gold recovery rates of the Kat Gap ore. The necessary Gekko processing equipment has been financed and has already been ordered. The high grade, near-surface mineralization deposit should provide Classic Minerals with very good economic results. The gold inventory on the 3 projects is currently close to 404,000 ounces and is expected to increase significantly with further drilling in the near future. Cat Gap drill results of up to 304 g/t gold should support the ambitious plans.
All Classic Minerals' projects have been surprisingly little explored by their previous owners - at least not with modern exploration methods. CEO Dean Goodwin sees great potential at Kat Gap, where he suspects additional high grade gold in quartz veins outside the current Main Zone. After a successful start of production, he wants to test and, if possible, confirm exactly this theory. If successful, the shares of Classic Minerals could catapult to hot stock.