West Australian gold explorer Focus Minerals (ASX: FML) has provided its quarterly activities report for the period ending 30 June 2020.
HIGHLIGHTS:
-
Pre-feasibility Study for Laverton Stage 1 is now underway.
-
Drilling at Beasley Creek area delivered encouraging intersections including:
-
20BSRD005 – 10.05m @ 9.13g/t Au from 252.25m; and
-
20BSRD012 – 6m @ 31.06g/t Au from 32m.
-
-
The 2017 Coolgardie Pre-feasibility Study is being updated.
-
Resource model review is in progress for Brilliant area.
-
Total exploration expenditure for the quarter: $3.3m.
-
Cash (unrestricted) as at 30 June: $6.9m.
During the quarter, Focus conducted drilling activities, resource model review, mineral resource estimation as well as starting pre-feasibilities for both Coolgardie and Laverton projects.
The resource model review and estimation work has led to some exciting results, which were announced in July.
Laverton Gold Project
Beasley Creek South
The Beasley Creek South resource was compiled from 9,859.16m drilling completed in 107 holes since September 2019. The drilling comprises 1,176m RC and 8,683.16m HQ3 and limited PQ3. The results of the drilling have been outstanding with:
-
High grade Indicated resource delivered on the main lode from near surface to 130m depth.
-
Two of three high grade hanging wall structures drilled from near surface to inferred category.
-
All mineralisation located to date is open to further extension along strike and at depth.
-
Main lode mineralisation is highly oxidised from near surface to 230m vertical depth.
Hole 20BSRD005 intersected the main lode at 230m vertical depth from surface and also delivered several strong hanging wall mineralisation intersections. The hole was stopped in mineralisation due to drilling issues but, still recorded a very strong intersection.
It is worth noting that the result of 20BSRD005 was not included in the JORC 2012 Mineral Resource upgrade due to the late arrival of the result.
Beasley Creek
During the June Quarter 2020 2,513.93m diamond HQ3 were completed in 22 holes at Beasley Creek. The drilling was strategically targeted to infill parts of the resource not optimising due to insufficient drilling and/or lower resource classification.
Hole 20BSRD012 intersected a new high-grade structure in weathered mafic volcanics (using 0.5 g/t Au cut off, up to 3m internal dilution and full dilution of any core loss to 0.00 g/t Au included). The structure was intersected in the pre-collar to a diamond tail. The area has almost no drilling and the significance of the intersection will be determined by follow up drilling.
To confirm the nature of high-grade mineralisation intersected by this hole a small sample from interval 33 – 34m was panned and returned a tail of gold.
