West Australian gold explorer Focus Minerals (ASX: FML) is pleased to announce a 31% increase in the Mineral Resource for the CNX deposit, part of the Company’s Coolgardie Gold Project. Further Mineral Resource upgrade and extension work at CNX is planned for 2022.
CNX is a key deposit within the Coolgardie Gold Project, which covers 175km2 of highly prospective tenements on the outskirts of the Coolgardie township in the Goldfields region.
CNX is located immediately north-west along strike of the Three Mile Hill open-cut mine and close to the Three Mile Hill processing plant (in care and maintenance). CNX sub-crops over a drill-defined strike of 700m. The resource is truncated 97m north of the Great Eastern Highway centreline.
The updated CNX open pit Mineral Resource is reported on a dry tonnage basis using a 0.5 g/t Au cut-off to 200mRL (depth of 230m) and is 4.8 million tonnes at 1.34g/t gold for 209,000 ounces.
Metallurgical test work has confirmed excellent recoveries of 96.9% to 98.2%.
Commenting on the significant CNX deposit Mineral Resource update, Focus Minerals’ CEO, Mr Zhaoya Wang, said:
“The Focus technical team has now grown the CNX deposit more than 460% since October last year, which is a tremendous outcome with clear potential for further resource updates. CNX is ideally located to supply our Three Mile Hill plant. About 60% of the CNX Mineral Resource has now been converted to Measured and Indicated Mineral Resource categories that can be used for economic study.
“Initial reserve pit designs using feasibility level geotechnical assessments are now being refined to deliver a maiden CNX Ore Reserve leading to an updated mine schedule for Coolgardie. This all feeds into the Company’s efforts to build up production-ready Mineral Resources at Coolgardie.”
