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Focus Minerals Ltd.
Summary
| Project: | Laverton | |
|---|---|---|
| Deposit: | Karridale | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/27/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-5-2019: Focus Minerals Ltd. announces a Resource Estimation report for its Karridale deposit at the Laverton project. Updated mineral resource estimate at the project. The Mineral Resource is reported on a dry tonnage basis. See the attached JORC Table | |
| Resources: | (Resource, I+I): 15.7Mt @ 1.3g/t Au for 672Koz Au contained at Karridale | |
| CP/QP: | [Resources]: Hannah Kosovich (Internal) | |
| ABSTRACT: | The Mineral Resource is reported on a dry tonnage basis. See the attached JORC Table 1 for additional details. Karridale is one of several significant deposits and prospects across Focus’ Laverton Gold Project, which covers a 507 square kilometre parcel of highly prospective tenements on the outskirts of the Laverton township, in Western Australia’s north-eastern Goldfields. Various companies have drilled at Karridale in the past 40 years. However, only holes drilled by Focus since 2013 are used in this Mineral Resources. A total of 197 drill holes were used, comprising: 175 Reverse Circulation (RC) holes and 22 diamond holes with an RC pre-collar (RCDD), totalling 45,365m. Focus is also pleased to announce that the 25% increase in estimated Mineral Resources at Karridale was achieved at a highly competitive discovery cost of $12/oz and; less than 200m depth from the surface. The mineralisation at Karridale remains open in all directions. Commenting on the increase in Karridale’s Mineral Resource, Focus Minerals CEO, Mr Zhaoya Wang, said: “This is a very pleasing outcome for Focus and based on the success of the successful rounds of drilling that we have carried out at Karridale. So far only 40% of the Karridale footprint has been drill-tested, with mineralisation open along strike and depth to highlight the resource growth potential. “As we continue drilling across our broader Laverton Gold Project area, our confidence is rising that we have the potential to define a regionally significant gold project in the north-eastern Goldfields.” | |
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