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- Focus Minerals (FML) has announced mineral resource updates for two deposits within its Coolgardie project in WA
- The Jolly Briton deposit’s maiden MRE sits at 902,000 tonnes at 1.33 grams per tonne (g/t) gold for 38,600 ounces
- Patricia Jean, located 160 metres along strike from Jolly Briton has an MRE of 387,000 tonnes at 2.17 g/t gold for 27,000 ounces
- With the addition of these, Coolgardie’s MRE has increased to 42.2 million tonnes at 1.9 g/t gold for 2.61 million ounces
- Company shares have ended the day trading flat at 17.5 cents
Focus Minerals (FML) has announced a mineral resource estimate (MRE) update for its Coolgardie gold project in Western Australia.
The Coolgardie gold project covers 175 square kilometres of “highly prospective” tenements within the Goldfields region of WA. Focus Minerals aims to resume gold mining operations at the wholly-owned project.
Today, the company revealed a maiden JORC 2012 open pit MRE for the Jolly Briton deposit of 902,000 tonnes at 1.33 grams per tonne (g/t) gold for 38,600 ounces using a 0.5 g/t cut-off grade.
Located 160 metres north and along strike of Jolly Briton is the Patricia Jean deposit where a JORC 12-compliant MRE has been estimated for the first time.
Patricia Jean has an inferred open pit MRE of 387,000 tonnes at 2.17 g/t gold for 27,000 ounces.
The mineralisation at both deposits is open along strike and at depth and the 160-metre strike between the two remains untested.
With the addition of these, Coolgardie’s MRE has increased to 42.2 million tonnes at 1.9 g/t gold for 2.61 million ounces — most of which is in the indicated category.
Executive Chairman Wanghong Yang said the Jolly Briton and Patricia Jean updates have “further boosted” the overall resources for Focus’ Coolgardie gold project.
“The adjacent deposits are hosted in the prolifically mineralised Three Mile Sill stratigraphy and provide us with much scope for follow-up resource development,” he said.
Company shares have ended the day trading flat at 17.5 cents.
