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Focus Minerals adds another ‘eureka’ moment to Coolgardie

Materials
ASX:FML      MCAP $37.25M
30 July 2019 00:51 (AEST)

West Australian gold explorer Focus Minerals has completed reverse circulation drilling at its Brilliant North prospect, located within the Coolgardie Gold Project.

All five holes that were drilled intersected significant gold mineralisation. In particular one of the holes intersected large downhole intervals of mineralisation with very high grades.

These grades include one metre at 56.19 grams of gold per tonne from 211 metres, and two metres at 15.82 grams of gold per tonne from 214 metres.

The Brilliant North prospect is one of the best known, yet under drilled, gold projects in Coolgardie, Western Australia.

Mineralisation at Brilliant North starts immediately north of the Brilliant Open Pit and extends north to Rose Hill.

However, exploration and development has been limited by the complex tenure and the location of historic Coolgardie State Battery Tails.

The Brilliant Open Pit is one of the larger historical producers at Coolgardie, delivering 88,000 ounces from 2.54 grams per tonne of gold between 1970 and the early 2000s.

In April 2017, Focus announced a 26 per cent increase in the mineral resources at Brilliant which consisted of an indicated mineral resource for 4.68 million tonnes.

This tonnage contained grading for 2.3 grams of gold per tonne, containing 348,500 ounces.

The inferred mineral resource also increased by 1.21 million tonnes, containing 3.3 grams of gold per tonne with 127,000 contained ounces.

As it has been previously un-mined, the opportunity exists to define and optimise a new large open pit. The structural model can be easily and efficiently drill tested and a resource update delivered.

Further, the cross cutting structure is also mineralised to the east and west which provides additional drill targets for future exploration.

Focus shares are up 6.85 per cent, trading for 39 cents a piece with a market cap of $66.70 million.

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