High-flying mining entrepreneur Klaus Eckhof will be providing his significant set of skills to WA-focused gold junior Classic Minerals (ASX: CLZ).
Mr Eckhof – whose highly impressive resume includes founding Moto Gold Mines, vending the high-grade Bisie tin discovery into a TSX-V listed company Alphamin Resources and formerly heading AVZ Minerals which is developing the largest JORC measured and indicated lithium hard rock resource globally – has now set his sights on Classic as a corporate and technical advisor.
[We are] delighted that Klaus has accepted to join Classic Minerals as a trusted and capable advisor who brings a new and exciting vision to the Board and Management of Classic as Dean progresses with extensional drilling at Kat Gap,” Classic Minerals Chairman John Lester.
We are privileged that Klaus with his integrity, dynamism and international network has agreed to guide, direct and enhance the vision of Classic Minerals.”
For remuneration, Classic will issue performance rights to Mr Eckhof in three tranches of 50 million shares per tranche with the ultimate goal of achieving a volume weighted average price of at least $0.008 for a period 15 business days in a row. The Performance Rights will expire at the end of 2020.
Classic owns tenements covering 178 square kilometres collectively in the Eastern Goldfields, Murchison and Fraser Range Provinces of Western Australia and in areas with identified high grade nickel, copper, cobalt, manganese, gold, and base metal targets.
Recently, Classic reported high-grade assay results close to surface including 9m at 20.94 grams per tonne gold from 123m including 1m at 125gpt gold from 126m at Kat Gap tenement which lies 70km from its Forrestania Gold project.
Shares in Classic closed on Thursday at 0.3c.