CLZ 0.00% 0.1¢ classic minerals ltd

Ann. Drilling to Commence at Forrestania..., page-5

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    Assume you mean the Ann from March 20:

    http://www.classicminerals.com.au/downloads/announcements/clz_2018032001.pdf

    WA-focused gold exploration and development company Classic Minerals Limited (ASX. CLZ) ("Classic", or "the Company") is pleased to announce that it has entered into a non-binding MOU with Tianye SXO Gold Mining Pty Ltd (Tianye SXO Gold Mining) concerning treatment of ore extracted from the Company’s Forrestania Gold Project (“FGP”) in Western Australia.

    Tianye SXO Gold Mining is the owner of the Southern Cross Operations including the recently refurbished Marvel Loch Processing Plant (“Marvel Loch Plant”) located approximately 80km from the FGP. Minjar Gold operates the SXO and Marvel Loch Plant under an arms-length management agreement with Tianye SXO Gold Mining.

    The FGP contains an existing Mineral Resource of 5.3 Mt at 1.39 g/t for 240,000 ounces of gold, classified and reported in accordance with the JORC Code (2012), with a recent Scoping Study (see ASX Announcement released 2nd May 2017) suggesting both the technical and financial viability of the project.

    In addition to the aforementioned resources, Classic also holds significant exploration targets at Kat Gap deposit which had earlier Resources estimated for Kat Gap by Sons of Gwalia (SOG) in 2003 totalling 56,000oz grading 1.4g/t Au at zero grade cut-off and 36,000oz grading 3.9g/t Au at 1.5g/t Au grade cut-off.
 
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