Classic Minerals Ltd. (AU:CLZ) has released an update.
Classic Minerals Ltd has made significant strides in its mining operations, applying for a mining lease as part of its Forrestania Gold Project and securing funding to expedite the development towards full-scale production. The mining lease will enable the company to mine gold resources from the Lady Ada and Lady Magdelene deposits, with a combined estimate of over 300,000 ounces of gold. The funding package will also facilitate the upgrade of Classic Minerals’ Kat Gap processing plant to enhance gold extraction efficiency.
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