Focus Minerals Ltd (ASX: FML) has announced the first JORC 2012 Mineral Resource in the Wedge-Lancefield North region, part of the Company’s 100%- owned Laverton Gold Project in the north-eastern Goldfields.
The Wedge-Lancefield North JORC 2012 Open Pit Mineral Resource will form a key part of the proposed production pipeline for Stage 1 of Laverton.
The Mineral Resource is reported above 320mRL (to a maximum of 140m below surface) using a 0.8g/t Au cut-off grade and comprises:
Indicated Resource: 2.66 Mt @ 1.65 g/t Au for 141,142 contained ounces
Inferred Resource: 0.75 Mt @ 1.13 g/t Au for 27,108 contained ounces
Total Resource: 3.41 Mt @ 1.54 g/t Au for 168,677 contained ounces
The Mineral Resource is reported on a dry tonnage basis. See the attached JORC Table 1 for details. The Wedge-Lancefield North deposit is located 7km north-west of the Laverton township and among several significant deposits and prospects within Focus’ 507sqkm parcel of highly prospective tenements in the region.
The JORC 2012 Mineral Resource for Wedge-Lancefield North was compiled using a total of 549 drill holes, made up of 537 reverse circulation (RC) and 11 diamond holes from surface and one diamond hole with an RC pre-collar.
The majority of the drilling extends to a depth of less than 110m below surface, with some deeper drilling completed at Wedge South as well as Wedge North to a maximum depth of 130m below surface.
The Wedge-Lancefield North resource has been compiled from shallow drilling, with the resource open over much of its strike below 110m from surface.
It is worth noting that the resource includes several highly mineralised shallow NE plunging shoots, which at the 2.2g/t Au cut-off host indicated resources of 406Kt @ 4.41g/t Au for 57,566 ounces.
Commenting on the Wedge-Lancefield North Mineral Resource, Focus Minerals’ CEO, Mr Zhaoya Wang, said: “The Wedge open pit resource is an important component of the proposed Laverton Stage 1 production plan and underlines the prospects of our substantial tenement position around Laverton.
“Our Stage 1 plans will be further supported by the upcoming Karridale resource update and ongoing resource drilling at Beasley Creek South.”