WA-focused gold exploration and development company Classic Minerals Limited (ASX. CLZ) has successfully 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.
CEO Dean Goodwin said Classic Minerals has completed all the requirements for the application for a mining lease to cover its Kat Gap gold deposit, which lies within the Forrestania Gold Project in WA’s goldfields.
The application is supported by a mineralisation report and a supporting statement from an independent consultant which substantiate the reasons for mine development.
Classic Minerals’ experienced field staff have completed the marking out of the mining lease boundary to provide accurate data to the Department of Mines, Industry, Regulation and Safety (DMIRS).
Mr Goodwin said the application for the mining lease is a significant step forward for the company as it begins in earnest to advance the project towards a detailed feasibility study over the coming months.
The company is now launching the required regulatory processes to have the mining lease granted. An update on progress of these processes will be included in subsequent reports.
Classic Ltd owns a 100% interest in the gold rights on the Kat Gap Tenements and also non- gold rights including but not limited to nickel, lithium and other metals.
Classic has a Global Mineral Resource of 8.24 Mt at 1.52 g/t for 403,906 ounces of gold, classified and reported in accordance with the JORC Code (2012), with a recent Scoping Study suggesting both the technical and financial viability of the project.
Kat Gap is currently estimated to contain 92,856 ounces of gold.