- Focus Minerals (FML) has received results from drilling conducted at the company’s Coolgardie Gold Project in Western Australia
- The exploration drilling, consisting of both reverse circulation (RC) and diamond holes, made significant intersections at several deposits
- Focus Minerals is currently reviewing the mineral resources for the Alicia, Big Blow, Brilliant and Happy Jack deposits
- The company hopes that this ongoing exploration success will pave the way for resumption of gold production at the project
- Focus Minerals last traded at 30 cents per share on April 23
Focus Minerals (FML) has received results from drilling conducted at the company’s Coolgardie Gold Project in Western Australia.
The company’s latest round of exploration drilling consisted of 9147 metres of reverse circulation (RC) drilling, as well as 1070 metres of diamond holes. The drilling made significant intersections at several project areas, including the Alicia, Brilliant, CNX, Jackpot South and Undaunted deposits.
Such encouraging intersections included 37 metres at 3.49 grams per tonne of gold, at the CNX deposit.
Focus Minerals hopes that this ongoing exploration success will pave the way for resumption of gold production at Coolgardie.
The company’s CEO, Zhaoya Wang, said that the latest round of drilling results has confirmed the potential at Coolgardie, underpinning the case for restarting production at the project.
“Importantly, the continued exploration success vindicates our firm view of prospectivity of mineral endowment at Coolgardie for sustainable mining operations,” he said.
“Mineral resource updates for several deposits are underway and Coolgardie mining schedule will be optimised in due course,” he added.
As Zhaoya mentioned, Focus Minerals is now conducting reviews of the mineral resources for various deposits at the Coolgardie Project. The reviews at the Alicia, Big Blow and Happy Jack deposits are to bring the resources to JORC 2012 reporting compliance, while the review for the Brilliant deposit is to incorporate moderate dipping mineralisation.
Mineral resource updates will be released as they are completed, with the first updates expected to reach completion in 2021’s June quarter.
Focus Minerals last traded at 30 cents per share on April 23.