Classic Minerals reveals major upgrades to gold resources at Forrestania

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By Imelda Cotton - 
Classic Minerals ASX CLZ Forrestania Lady Ada Magdalene update

Classic Minerals (ASX: CLZ) has announced a substantial upgrade to resources at the Lady Ada and Lady Magdalene targets within its Forrestania gold project in Western Australia.

The new combined indicated resource sits at 1.49 million tonnes, grading up to 1.62 grams per tonne of gold for 69,966 ounces.

The total inferred resource has also been revised to 5.45Mt, grading up to 1.31g/t for 227,613oz.

Re-estimation work

Consultant Cadre Geology and Mining has confirmed the total resource base at Forrestania to be 297,000oz.

When combined with Classic’s flagship Kat Gap project, located 50 kilometres to the south, the full indicated resource sits at 90,454oz.

The combined Kat Gap and Forrestania indicated and inferred resource has been calculated at 8.09Mt, grading 1.45g/t gold for 377,946oz.

The enhanced resource confidence at Forrestania follows re-estimation work after the integration of data from 2021 that focused on twinning and infill drilling around historical drill holes.

Statistical analysis showed that the data was compatible with historical drilling from the provided dataset, which “lacked quality assurance and quality control information”.

Historical alignment

Classic has confirmed that the grades from the historical dataset aligned with the stated values.

“This analysis provided confidence in the historical work carried out by prior operators and increases confidence in the dataset in these areas,” the company said.

“This new information was used for the current mineralogical model and resource estimation was completed by ordinary kriging within the 3D-modelled mineralisation wireframes and block modelling.”

New mining lease

The resource upgrade was fuelled by the granting of the Lady Ada and Lady Magdalene M77/1310 mining lease in May.

The lease – which encompasses critical sections around Classic’s existing E77/2239 and E77/2220 tenements and includes the P77/4291 and P77/4290 areas – is for a period of 21 years and covers an area of 18 sq km.

“The increase of indicated resources across both projects at Forrestania provides confidence in the development of this project going forward,” Classic said.

“We are determined to further optimise the project and upgrade resource categories, which could be achieved through additional drilling.”