Classic Minerals Upgrades Gold Resource at Lady Ada, Lady Magdalene Prospects

MT Newswires Live06-12

Classic Minerals (ASX:CLZ) upgraded the gold resource at the Lady Ada and Lady Magdalene prospects within the Forrestania gold project in Western Australia, according to a Wednesday filing with the Australian bourse.

Lady Ada's resource rose to 1.3 million tonnes at 1.39 grams per tonne of gold for 60,161 gold ounces from 1.3 million tonnes at 1.38 g/t of gold for 59,700 ounces. The higher confidence indicated resource rose to 540,339 tonnes at 1.62 g/t of gold for 28,143 ounces from the previous 257,300 tonnes at 2.01 g/t of gold for 16,600 ounces.

At Lady Magdalene, while the overall resource declined to 5.6 million tonnes at 1.32 g/t of gold for 237,418 ounces from 5.9 million tonnes at 1.32 g/t of gold for 251,350 ounces, it now included an indicated resource of 956,494 tonnes at 1.36 g/t of gold for 41,823 ounces.

Classic Minerals said it is "determined to further optimize the project and upgrade resource categories" via further drilling.

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