- Focus Minerals (FML) releases a maiden mineral resource estimate (MRE) for the Lancefield Far North deposit in Western Australia
- The MRE reads 790,000 tonnes at 1.34 grams per tonne (g/t) gold for 33,900 ounces and was calculated from limited drilling undertaken in 2019 and 2021
- Lancefield Far North also has an exploration target between 1.8 and 2.4 million tonnes grading between 1.2 and 1.5g/t gold for 70,000 to 116,000 contained ounces
- The exploration target will be assessed by exploration drilling and resource modelling over the next 24 months
- Focus is up 9.62 per cent on the market with shares trading at 28.5 cents
Focus Minerals (FML) has released a maiden mineral resource estimate (MRE) for the Lancefield Far North deposit.
The Lancefield deposit is part of Focus’ Laverton Gold Project which is situated on the Laverton Greenstone Belt in the Yilgarn Craton of Western Australia.
The MRE reads 790,000 tonnes at 1.34 grams per tonne (g/t) gold for 33,900 ounces.
The MRE is classified as inferred and comes from limited shallow extension and infill drilling undertaken in 2019 and 2021.
In 2019, three traverses of three overlapping fence reverse circulation (RC) holes, totalling 1452 metres, were drilled to confirm target geology and mineralisation.
Focus then drilled nine targeted infill and extension RC holes in 2021.
“The 2021 Laverton pre-feasibility study detailed a chain of shallow, cut-back open pits along more than one kilometre of strike at Wedge,” CEO Zhaoya Wang said.
“This maiden mineral resource at Lancefield Far North, starting just 4.9 kilometres north and along strike of the Wedge deposit, highlights the enormous potential of our tenement position.”
The strike of the Lancefield Far North resource remains open for follow-up resource drilling.
Lancefield Far North also has an exploration target between 1.8 and 2.4 million tonnes grading between 1.2 and 1.5g/t gold for 70,000 to 116,000 contained ounces.
The exploration target will be assessed by exploration drilling and resource modelling over the next 24 months.
Focus was up 9.62 per cent on the market with shares trading at 28.5 cents at 3:26 pm AEDT.