Junior Classic Minerals has produced its first gold concentrate at its Kat Gap gold project in Western Australia.
The company told shareholders on Tuesday that the successful production of first gold concentrate certified Classic as a gold producer, and represented a key turning point in the company’s journey.
“The smelting of the gold concentrate into a gold bar will generate revenue, enabling the financing of Stage 1 mining at the Kat Gap pit. Furthermore, it will facilitate targeted exploration efforts to unlock additional ounces at Kat Gap, further enhancing the mine's value and potential,” the company said in a statement.
The project holds a 93 000 oz Joint Ore Reserves Committee-compliant resource, and there is potential for additional mineralisation to be identified through further exploration.
