West Australian gold explorer Focus Minerals (ASX: FML) has released its results for the December 2019 quarter, completing 6,938.5m drilling on Laverton projects.
HIGHLIGHTS:
Four JORC 2012 open pit resources were compiled during the December Qtr comprising:
Karridale (Announced 28/01/2020) reported to 180m depth from surface using 0.6g/t Au cut-off:
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Indicated Resource: 14.4 Mt @ 1.39 g/t Au for 644,000 ounces – increase of 317%
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Inferred Resource: 2.3 Mt @ 1.32 g/t Au for 99,000 ounces – 81% inferred res. converted
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Total Resource: 16.7 Mt @ 1.38 g/t Au for 742,000 ounces – increase of 10%
Beasley Creek (Announced 25/10/2019) reported to 180m below surface using a 0.8g/t Au cut-off:
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Indicated Resource: 2.02 Mt @ 2.41 g/t Au for 156,500 ounces
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Inferred Resource: 0.64 Mt @ 1.71 g/t Au for 35,400 ounces
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Total Resource: 2.66 Mt @ 2.24 g/t Au for 191,900 ounces
Wedge (Announced 24/01/2020) reported to 140m below surface using a 0.8g/t Au cut-off grade:
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Indicated Resource: 2.66 Mt @ 1.65 g/t Au for 141,142 ounces
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Inferred Resource: 746 Kt @ 1.13 g/t Au for 27,108 ounces
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Total Resource: 3.4 Mt @ 1.54 g/t Au for 168,677 ounces
Telegraph (Announced 28/10/2019) reported to 185m below surface using a 0.8g/t Au cut-off:
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Indicated Resource: 0.64 Kt @ 2.13 g/t Au for 43,700 ounces
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Inferred Resource: 0.53 Kt @ 1.43 g/t Au for 24,600 ounces
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Total Resource: 1.17 Mt @ 1.81 g/t Au for 68,300 ounces
The updated and new resources have delivered combined OP indicated resources of 19.72Mt @ 1.55g/t Au for 985,000 ounces. Excluding non resource exploration, these OP indicated ounces were compiled from 84,130.5m drilling with a breakdown of 76% RC and 24% HQ3.
This benchmark level of OP indicated resource is seen as the starting point for stage 1 mining and permitting studies. Drilling is currently advancing the Beasley Creek South project. An updated resource is expected from Beasley Creek South during the first half 2020.
