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Focus Minerals Ltd.
Summary
| Project: | Coolgardie | |
|---|---|---|
| Deposit: | Coolgardie | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-10-2017: Focus Minerals Ltd. announces a Pre-Feasibility Study report for its Coolgardie deposit at the Coolgardie project. PFS completed with a NPV (7.5%) of AU$37M, Initial ore reserve. Focus Minerals Limited (“FML” or “Focus”) is pleased to make the | |
| Resources: | (Reserve, Prob.): 1.641Mt @ 3.2g/t Au for 171Koz contained at project | |
| CP/QP: | [Overall Report]: David Trembath (Mining One Pty Ltd.) | |
| ABSTRACT: | Focus Minerals Limited (“FML” or “Focus”) is pleased to make the following announcement as a result of the completion of a positive Preliminary Feasibility Study (PFS) investigating several of FML’s Coolgardie deposits. Focus intends to build on these positive results by continuing negotiations around the Brilliant deposit, considering opportunities to optimise mill throughput with the cooperation of third parties, and ongoing exploration at Bonnie Vale, Brilliant, and other Coolgardie deposits. Focus Minerals Limited is pleased to advise that a PFS has been completed by independent consultants Mining One Pty Ltd (“Mining One”) (Trembath, et al., 2017). The PFS considers underground mining of the Bonnie Vale deposit and further open pit mining of the Greenfields and Brilliant deposits. The results confirm a technically viable project with robust economics which has the potential to significantly improve the value of the company and deposits held by FML in the Coolgardie region. The Bonnie Vale deposit is located 10km north of the township of Coolgardie with access via the Coolgardie North Road. It is situated on Mining Lease M15/0595 which is wholly owned by FML. The historical Bonnie Vale town site is now completely deserted. The Greenfields deposit is located 3.8km north-east of Coolgardie. The Greenfields pit is adjacent to the Three Mile Hill processing plant currently in care and maintenance. Figure 1 shows the location of the Mineral Resources under consideration relative to important infrastructure. | |
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