Focus Minerals (ASX: FML) has spelt out its ambitions to develop a 10-year mining operation based on exploration success at its highly prospective Laverton Gold Project, in the north-eastern Goldfields. Releasing its AGM presentation ahead of today’s meeting, Focus said stage 1 of its strategy was to create a five-plus year mine life based on open pit production from deposits and prospects including Beasley Creek, Wedge and Lancefield North, Karridale and Burtville South, Sickle and Ida-H.
Focus Minerals (ASX: FML) has spelt out its ambitions to develop a 10-year mining operation based on exploration success at its highly prospective Laverton Gold Project, in the north-eastern Goldfields.
Releasing its AGM presentation ahead of today’s meeting, Focus said stage 1 of its strategy was to create a five-plus year mine life based on open pit production from deposits and prospects including Beasley Creek, Wedge and Lancefield North, Karridale and Burtville South, Sickle and Ida-H.
Stage 2 extends the operational footprint to 10+ years by also including underground mining. Focus, which is in the process of offloading its mothballed Coolgardie Gold Project, has delivered significant gold hits from its Laverton project and only this week announced a 25% increase in the indicated and inferred resource at Karridale, to 15.7 million tonnes at 1.3 grams per tonne for 672,000 ounces.
At Ida-H, intercepts have included 5m at 7.98g/t from 97m and at Sickle 59.4m at 2.02g/t from 202m. Resource updates across Focus’ Laverton project are expected in the third and fourth quarters of 2019. At March 31, Focus had $37.9 million of cash and equivalents.
