Executive Summary of Classic Minerals Limited

Western Australia based Classic Minerals Limited (ASX:CLZ) is a gold exploration and development company encompassing total three projects, namely Forrestania Gold Project (~80%), Fraser Range Project (100%) and Kat Gap Project (100%). The total tenements associated with high-grade gold, nickel, cobalt, copper, manganese and base metal targets.

Let us now gauge through the Company’s focus projects, i.e. Kat Gap Project and Forrestania Gold Project followed by Fraser Range Project.

• Kat Gap Project: Highly gold mineralised zones across granite-greenstone contact. The Company as of now has drilled along the 1700m strike. The first 500m drilled shallower, i.e. 60m vertically below the surface along the granite-greenstone contact, returning significant high-grade gold intercepts. While remaining 1200m too return High-grade gold mineralisation along the strike from the south of main drilling area of the project.

Also, it is worth mentioning that all the strike length returning quartz vein hosted gold mineralisation, and Sub cropping and scree quartz in patches is observable along the 1200m strike from the cross-cutting Proterozoic dyke extending all the way south.

Do You Know Share Price Increased After KAT GAP Drilling Result?, Click to Read.

• Forrestania Gold Project (FGP): The project is owned in a JV with 80:20 ratio between CLZ and Hannans Ltd (ASX: HNR). The project demonstrated both technical and financial viability in an earlier scoping study. Also, recently the project witnessed the surge in resources post new drilling at its both Lady Ada (up 71%) and Lady Magdalene (up 38%) gold deposit. The resources increased to 1.35Mt at 1.38g/t gold grade returning 59.7koz gold metal contained for Lady Ada and 5.92Mt at 1.32g/t gold grade resulting in 251.35koz gold metal contained for Lady Magdalene.
• Fraser Range Project: CLZ entered into “Earned-in and JV” agreement with Independence Newsearch Pty Ltd, wholly owned subsidiary of Independence Group NL (ASX: IGO), to explore the Fraser Range project. It is extremely probable for Nova-style nickel-copper-cobalt mineralisation, gold, and VMS style copper-zinc mineralisation. For the same, a sum of A$0.3million is made to CLZ by IGO, which is anticipated to be utilized for Kat Gap development.

Concern About CLZ Project? Must Read: Gaging Through CLZ projects Apropos Commodity Stance

Presently Classic Minerals is looking forward to new Scoping Study of Forrestania Gold Project. By the first half of 2020, CLZ believes to finalise the plan of action for ore process and JV mining and treatment contracts with professional miners. Also, at Kat Gap, Classic intends to maintain deep drilling along the strike - northerly and southerly extensions to gauge both cross-cutting Proterozoic dyke contact and primary granite-greenstone contact.

One May Ask! How Classic Will Reach Its Plan of Action? Answer to Such Queries Lies to the Company Distinguished and Experienced Management Team Demonstrating Year to Date Accomplishment.

Mr Dean Goodwin – CEO

Mr Dean Goodwin is a geologist with massive 30 plus years of experience across all aspects, i.e. ranging from exploration to production of gold and advanced minerals sectors in Australia and overseas. Mr Goodwin during his tenure includes Head of Geology at Focus Minerals, Managing Director at Barra Resources and Mt Ridley Mines to mention few. Also, as an Exploration Head at Viceroy demonstrated several gold discoveries in the Forrestania region.

Mr Goodwin presence is valuable to the ongoing exploration of Kat Gap. He also meets the Australasian Code criteria for competent person to Report Exploration Results, Mineral Resources and Ore Reserves, defined in 2012.

Mr Klaus Eckhof – Advisor

Mr Klaus Eckhof is a founder of many companies namely Moto Goldmines, Spinifex Gold Ltd, Lafayette Mining Ltd, and Amani Gold Ltd. He is a geologist with 25 plus years of experience in the field of sourcing and developing exploration project in Australia and DRC. Mr Eckhof has also been Chairman of AVZ Minerals (ASX:AVZ).

Mr John Lester – Chairman & Non-Executive Director

Mr John Lester has a degree in Physiology from Oxford University and was a member of the Institute of Investment Analysts in London. Mr Lester has a strong background in the financial sector. He has worked in several companies ranging from as a Manager at Joseph Sebag and Co, Director at Jardine Fleming and Company, Head of Corporate Finance at Pembroke Securities Ltd, Non-Executive Chairman at International Coal Ltd, and Chairman at of Yilgarn Infrastructure Ltd to mention few.

He has also been part of Golden West Resources Company as MD (Managing Director) where he was accountable for raising fund from Asian investors.

Mr Lu Ning Yi – Non-Executive Director

Mr Lu Ning Yi has over 30 years of extensive experience in business dealing across China and abroad. Mr Yi has a huge business links in the Asia Pacific region, China and Australia. He has demonstrated exceptional industry understanding and expertise in the realizing and identifying the commodities funding opportunities and financial investment sectors.

Mr Frederick Salkanovic – Non-Executive Director

Mr Frederick Salkanovic has an extensive working experience of prospecting and mining in Western Australia or matter of fact throughout Australia. He has successfully conducted gemstone mining and precious metals operations. He adds more practical experience to the Board, ramping up exploration and development activities at Forrestania Gold Project.

Mr Madhukar Bhalla – Company Secretary

Mr Madhukar Bhalla has a wealth of experience in Corporate Administration, Governance and Investor Relations ranging from listed and unlisted entities within Australia. He recently added understanding of working in a growing Not for Profit organisation. His experience in Human Relations may enhance the competencies to work in the direction of communities.

Hence the presence of an array of proficiency ranging from geology to business acumen; with the knowledge of working in the Forrestania region is expected to aid the proper execution of the intended plan of action.

Interested in CLZ projects commodity and its outlook? DO Read: Gaging CLZ projects Concerning Its Commodity Stance.

Stock Price Information

On 4 March 2020, CLZ closed at A$0.002. Its 52 weeks high is A$0.004 and 52 weeks is A$0.001 with a market cap of A$14.4 million.