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Focus Minerals Ltd.
Summary
| Project: | Coolgardie | |
|---|---|---|
| Deposit: | Bonnie Vale | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-10-2016: Focus Minerals Ltd. announces a Resource Estimation report for its Bonnie Vale deposit at the Coolgardie project. Mineral resource estimate increased by nearly 70 percent. Recent drilling at Focus Minerals Ltd’s (“Focus” or “the Company”) Bonn | |
| Resources: | (Resource, I+I): 821Kt @ 7.4g/t Au for 195000oz Au contained | |
| CP/QP: | [Resources]: Hannah Kosovich (Internal) | |
| ABSTRACT: | Recent drilling at Focus Minerals Ltd’s (“Focus” or “the Company”) Bonnie Vale Deposit in Coolgardie has been successful, enabling the company to increase the Mineral Resource estimate by nearly 70 percent to 821kt @ 7.4g/t for 195,000 ounces of gold. The Mineral Resource is reported on a dry tonnage basis with a 2.0g/t Au cut-off grade. See the attached JORC Table 1 for additional details. Focus announced a Maiden Mineral Resource at the Bonnie Vale Deposit on 16 November 2015 (for a total of 117,000 ounces Au). This upgrade confirms Focus’ belief that Bonnie Vale is a significant deposit which forms an important part of Focus Minerals’ tenement portfolio in the highly prospective Coolgardie region of Western Australia. The current Bonnie Vale Resource estimate is based on a total of 66 drill holes totalling 17,662.1m and comprising of 56 RC holes, nine diamond holes with RC pre-collars (RCD) and one diamond hole totalling 17,622.1m. Bonnie Vale is located 10km north of the township of Coolgardie in the Eastern Goldfields of Western Australia with access via the Coolgardie North Road. It is situated on Mining License M15/0595 and is wholly owned by Focus. Regionally the deposit lies on the western margin of the Menzies-Norseman Greenstone Belt, Eastern Goldfields Province within the Coolgardie Domain of the Kalgoorlie Terrane, a sub-division of the Menzies-Norseman Greenstone Belt by Swager et al (1990). The Coolgardie Domain comprises a belt of complexly deformed mafics and ultramafics with minor black shale and volcaniclastics, overlain by felsic volcaniclastics and metasediments, intruded by a suite of felsic to mafic sills and dykes and tholeiitic dolerites and gabbros. | |
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