West Australian gold explorer Focus Minerals (ASX: FML) has announced updates to key deposits at its Coolgardie and Laverton gold projects.
Brilliant South 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. Focus is pursuing a plan to resume gold mining operations at Coolgardie.
Focus has updated the mineral resource for Brilliant South to 12.94Mt at 1.66 g/t for 692,000oz. The resource incorporates open pit and underground scopes at Brilliant South.
“The diligent rebuild of the Brilliant South deposit model has been rewarded by large-scale Mineral Resource growth. This is a tremendous result and increases confidence in this key open pit resource,” Focus CEO Zhaoya Wang said.
“Together with large-scale resource growth at CNX and a string of other resources at Coolgardie, we are on track to confirm a significant gold resource position that can underpin the proposed resumption of mining operations for the benefit of all shareholders.”
At the Laverton gold project, Focus has updated the Beasley Creek South mineral resource by 14% to 2.06Mt at 1.81 g/t for 120,000oz. The mineralisation extends along strike and at depth.
Beasley Creek South is a key deposit at Laverton, which covers 362km2 of highly prospective tenements, including the historic Lancefield and Chatterbox trend mines, on the outskirts of the Goldfields township. Focus’ strategy is to identify sufficient open pit Mineral Resources across the Laverton tenement package to commence a Stage 1 gold mining operation.
“Beasley Creek South is an exciting open pit deposit and I am delighted with the work carried out by the Focus technical team over the past 18 months to better understand the mineralisation at this key Laverton deposit, which has significant growth potential,” Mr Wang said.
“We have been deliberately conservative with our assessment of Beasley Creek South. Importantly, the increase in the Indicated category announced today enhances the value at Beasley Creek South and gives us greater confidence in the deposit, particularly because the mineralisation remains open at depth and along strike.
“Beasley Creek South is just 300m from the Beasley Creek deposit, which combined is starting to delivering a significant resource for our Laverton Stage 1 plans.”