Purchases Gekko Processing Plant for Kat Gap
Gekko are world leaders in the manufacture of gold processing plant and machinery with their plants boasting small footprints and low environmental impact.
An added attraction to Classic is that the Australian-made Gekko plant is modular and mounted on containerised elements providing for scalability and ease of modification. The plant has a 30 tonne per hour capacity and is scalable to a Gekko Python plant with a processing capacity of 250 tph.
Also, the mobility associated with the modular construction, enables Classic to locate the plant adjacent to the ore body which further minimises cartage and processing costs.
Classic's purchase is for a two-stage gravity concentration plant from Gekko which will be provided fully refurbished to new condition. The two-part plant will form the basis of the processing facility to be set up and operated by Classic at its Kat Gap gold deposit.
Classic is now on track to set-up, commission and test the Gekko plant and commence processing of the gold rich ore at Kat Gap. The Gekko plant is ideally suited to processing Kat Gap ore which has a unique high gravity gold concentration. Classic will have the capability and capacity to commence production as soon as the Mining approvals (MLA 74/249) have been granted.
In order to provide an immediate revenue stream, Classic has also commenced negotiations to toll treat any initial parcels of ore from Kat Gap, while the full-scale plant is configured to suit Kat Gap ore.
Gekko was founded in 1996 and started out producing In-Line Pressure Jigs for continuous gravity separation. The growing demand for energy-efficient devices spurred Gekko to re-invent and advance traditional processing flowsheets. Innovative modular designs, elegant systems and smart manufacturing launched Gekko as a world technical leader in gold processing and low-energy mining solutions.
Offering significant cost benefits and a low environmental footprint; Gekko process designers customise self-contained high recovery plants for minimal start-up capital, using high-quality components and in-house expertise.
These flexible modular plants are engineered to deliver super-efficient, environmentally friendly recoveries, by combining Gekko's gravity pre-concentration, flotation and intensive leach technologies.
About Forrestania Gold Project and Kat Gap Gold Project
The main thrust of exploration at the Forrestania belt has been the Lady Ada and Lady Magdalene (Ladies) tenements. These have a JORC-defined gold resource outlined in the following table.
Classic has made a major discovery at the 100% owned Kat Gap tenements about 50 km to the South East of the Ladies. Here very significant high-grade gold intersections have been made. Classic has upgraded the potential of Kat Gap and is making it the main focus of its exploration. Classic has great faith in Kat Gap and has made arrangements to purchase a Gekko Gravity Feed Plant to exploit it. Kat Gap is now the Flagship project of the Company.
The FGP Tenements (excluding Kat Gap) are registered in the name of Reed Exploration Pty Ltd, a wholly owned subsidiary of ASX-listed Hannans Ltd (ASX:HNR). Classic has acquired 80% of the gold rights on the FGP Tenements from a third party, whilst Hannans has maintained its 20% interest in the gold rights.
Classic Minerals owns a 100% interest in the gold rights on the Kat Gap Tenements and also non-gold rights including but not limited to nickel, lithium and other metals.
Classic has a Global Mineral Resource of 8.24 Mt at 1.52 g/t for 403,906 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.
About Classic Minerals Ltd
Classic Minerals Ltd (ASX:CLZ) is an exploration and development company focused on gold deposits in Western Australia's famous Goldfields region. In March 2017, Classic acquired the Forrestania Gold Project, with seven tenements stretching across 450km2. Strategically located in a very prospective region, the FGP is an underexplored package surrounded by multimillion ounce deposits such as Bounty (2Moz) and Yilgarn Star (1.5Moz).
Classic Minerals Ltd