Good News For CLZ-High Grade Au Results Followed By Federal Court Approval For Trading Securities

3 min read | December 12, 2018 11:51 PM AEDT | By Team Kalkine Media

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Good News For CLZ-High Grade Au Results Followed By Federal Court Approval For Trading Securities

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On 12 December 2018, Classic Minerals Ltd (ASX:CLZ) announced the continued results at Forrestania Gold Project in WA which produced high-grade gold from a shallow depth. Below are the drilling results.

From hole FKGRC039, further drilling of 3 meters wide, produced 38.33 g/t Au from its earlier drill of 21 meters which include new drilling of 1-meter wide, reports 111.00 g/t Au

From hole FKGRC040, additional drilling of 5 meters wide, produced 5.61 g/t Au from its earlier drill of 6 meters which include further drilling of 1-meter wide, reports 12.00 g/t Au

From hole FKGRC041, additional drilling of 2 meters wide, produced 7.86 g/t Au from its previous drill of 19 meters.Â

From hole FKGRC042, further drilling of 3 meters wide, produced 14.10 g/t Au from its previous drill of 10 meters which include additional drilling of 1-meter wide, reports 37.40 g/t Au.

From hole FKGRC043, further drilling of 3 meters wide, produced 9.64 g/t Au from its earlier drill of 20 meters which include further drilling of 1-meter wide, reports 25.10 g/t Au

From hole FKGRC044, additional drilling of 3 meters wide, produced 7.73 g/t Au from its earlier drill of 19 meters which include further drilling of 1-meter wide, reports 13.00 g/t Au

From hole FGKRC050, additional drilling of 1 meter wide, produced 17.90 g/t Au from its previous drill of 17 meters.

From hole FGKRC051, further drilling of 5 meters wide, produced 4.07 g/t Au from its earlier drill of 66 meters which include additional drilling of 1-meter wide, reports 11.50 g/t Au

From hole FKGRC053, further drilling of 3 meters wide, produced 2.44 g/t Au from its earlier drill of 71 meters which include additional drilling of 1-meter wide, reports 9.01 g/t Au

The other update provided by the company was that it was successful in obtaining orders from the Federal court of Australia in regard to the orders where the company made an issue of 308 securities without producing any cleansing notice under section 708A (11) of Corporation Act or any cleansing prospectus.

At present, the trading of CLZ shares is in the suspended status, and the company has asked ASX to lift the trade suspension after receiving orders from the Federal court of Australia. The shares traded last on 25 September 2018.

A continuous negative performance is seen in the performance of the company since the company got listed on ASX. The YTD performance of the company is 25%. Earlier to this, there is a continuous negative performance of the company.

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