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Classic Minerals' gold resource at Forrestania's Lady Magdalene deposit up 38%

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Classic Minerals' gold resource at Forrestania's Lady Magdalene deposit up 38%

Classic Minerals Ltd.'s mineral resource for the Lady Magdalene deposit, part of its 80%-owned Forrestania gold project in Western Australia, grew 38% to 251,350 ounces.

The deposit hosts total JORC 2012-compliant resources of 5.9 million tonnes grading 1.32 g/t gold, at a lower cutoff grade of 0.5 g/t.

Total resources for the Forrestania project stand at 6.18 Mt grading 1.36 g/t gold containing 270,100 ounces, including 260,000 tonnes at 2.20 g/t gold containing 18,750 ounces at the Lady Ada deposit.

The company said Dec. 18 that it is completing a resource update for Lady Ada to capture all the recent drilling completed since 2017.