WA-focused gold exploration and development company
The bulk sample produced 6,504 tonnes of gold bearing ore at an average grade of 4.82 g/t for a total of 1,011 ounces of contained gold.
The pit was forecast to produce between 5,000 to 7,000 tonnes of ore at a grade of around 5 g/t. Total production of waste and ore combined came in at 48,970 tonnes. The waste and ore have been stockpiled separately. All the topsoil has been stored for future rehabilitation. The bulk of the over-burden removed to date has been placed on the designated waste dump as required. The ore zone, which came within 6m of the surface, was mined down to a vertical depth of 15m. The average width of the ore was around 5m and was mined over a strike length of 50m.
The oxide ore consisted mainly of quartz veining and biotite alteration hosted entirely in the granite. The ore was easily distinguished from the waste material during mining mainly due to the alteration. Both footwall and hangingwall contacts were very clear making it easy to extract with minimal dilution. It was also moderately thicker on the pit floor than predicted by the resource block model. The ore was mined in 2m thick layers or flitches. Each flitch had an assigned grade and tonnage from the resource block model supplied by independent resource consultants
ABOUT THE FORRESTANIA GOLD PROJECT
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Forward Looking Statements
This announcement may contain certain 'forward-looking statements' which may not have been based solely on historical facts, but rather may be based on the Company's current expectations about future events and results. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have reasonable basis. However, forward looking statements are subjected to risks, uncertainties, assumptions and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to Resource risk, metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks in the Countries and States in which we operate or sell product to, and governmental regulation and judicial outcomes. Readers should not place undue reliance on forward looking information. The Company does not undertake any obligation to release publicly any revisions to any 'forward-looking statements' to reflect events or circumstances after the date of this announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
Contact:
Email: contact@classicminerals.com.au
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