West Australian gold explorer Focus Minerals (ASX: FML) has provided its quarterly activities report for the period ended 30 September 2020, where activity was focused on the company’s Laverton and Coolgardie gold projects.
HIGHLIGHTS:
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Mineral Resources across Laverton and Coolgardie Gold projects surpass 6Moz – 94 Mt @ 2.0g/t for 6.0Moz Au.
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19% increase on last reported global Mineral Resource of 5.08 Moz via significant exploration success and geological model re-evaluations.
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Coolgardie Pre-Feasibility Study completed delivering NPV7.5% A $183M based on six-year production averaging 63Kozpa.
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Laverton Pre-Feasibility Study on track for completion by year’s end.
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Settlement to long running forfeiture applications against Focus.
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Cash (unrestricted) at September 30: $3.07m (new funding arrangement announced 14/10/2020)
Major resource increases included:
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Laverton Total Measured, Indicated and Inferred Resources increased by 23% (17.2Mt @ 1.24 g/t for 688Koz).
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Coolgardie PFS completed and Total Proved and Probable Reserves increased by 68% to 6.64Mt @ 1.9 g/t for 422Koz.
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Coolgardie Total Measured, Indicated and Inferred Resource increased by 14% (5.4Mt @ 1.65 g/t for 290Koz).
