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FOCUS MINERALS LTD — Interim / Quarterly Report 2020
Jul 29, 2020
64932_rns_2020-07-29_216932aa-a24e-4907-8399-7829e368a000.pdf
Interim / Quarterly Report
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Market Announcement
30 July 2020
Quarterly Activities Report for June Quarter 2020
Highlights:
-
Pre-feasibility Study for Laverton Stage 1 is now underway
-
Drilling at Beasley Creek area delivered encouraging intersections including:
-
20BSRD005 – 10.05m @ 9.13g/t Au from 252.25m
-
20BSRD012 – 6m @ 31.06g/t Au from 32m
-
The 2017 Coolgardie Pre-feasibility Study is being updated
-
Resource model review is in progress for Brilliant area
-
Total exploration expenditure for the quarter: $3.3m
-
Cash (unrestricted) as at 30 June: $6.9m
West Australian gold explorer Focus Minerals ( ASX: FML ) ( Focus or the Company ) is pleased to provide its Quarterly Activities Report for the quarter ended 30 June 2020.
During the quarter, Focus conducted drilling activities, resource model review, mineral resource estimation as well as starting pre-feasibilities for both Coolgardie and Laverton projects.
The resource model review and estimation work has led to some exciting results, which were announced in July.
Focus Minerals Limited ACN 005 470 799 | ABN 56 005 470 799 | ASX: FML Level 2, 159 Adelaide Terrace, East Perth WA 6004 | PO Box 3233, East Perth WA 6892 T +61 (0) 8 9215 7888 | F +61 (0) 8 9215 7889 | E [email protected] | W focusminerals.com.au
Page 1 of 16
Laverton Gold Project
Beasley Creek South
The Beasley Creek South resource was compiled from 9,859.16m drilling completed in 107 holes since September 2019. The drilling comprises 1,176m RC and 8,683.16m HQ3 and limited PQ3. The results of the drilling have been outstanding with:
-
High grade Indicated resource delivered on the main lode from near surface to 130m depth
-
Two of three high grade hanging wall structures drilled from near surface to inferred category
-
All mineralisation located to date is open to further extension along strike and at depth
-
Main lode mineralisation is highly oxidised from near surface to 230m vertical depth
Hole 20BSRD005 intersected the main lode at 230m vertical depth from surface and also delivered several strong hanging wall mineralisation intersections. The hole was stopped in mineralisation due to drilling issues but, still recorded a very strong intersection.
| Hole ID | Interval(m) Grade(g/t) From(m) |
|---|---|
| 20BSRD005 | 1 4.07 41 |
| 3 1.91 50 |
|
| 4 3.6 80 |
|
| 2 7.26 110 |
|
| 10.05 9.13 252.25 |
It is worth noting that the result of 20BSRD005 was not included in the JORC 2012 Mineral Resource upgrade[1] due to the late arrival of the result.
Beasley Creek
During the June Quarter 2020 2,513.93m diamond HQ3 were completed in 22 holes at Beasley Creek. The drilling was strategically targeted to infill parts of the resource not optimising due to insufficient drilling and/or lower resource classification.
Hole 20BSRD012 intersected a new high-grade structure in weathered mafic volcanics (using 0.5 g/t Au cut off, up to 3m internal dilution and full dilution of any core loss to 0.00 g/t Au include).
| Hole ID | Interval(m) | Grade(g/t) | From(m) |
|---|---|---|---|
| 20BSRD012 | 6 | 31.06 | 32 |
The structure was intersected in the pre-collar to a diamond tail. The area has almost no drilling and the significance of the intersection will be determined by follow up drilling.
To confirm the nature of high-grade mineralisation intersected by this hole a small sample from interval 33 – 34m was panned and returned a tail of gold.
1 ASX Announcement: 15 July 2020
Market Announcement | Page 2 of 16
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Figure 1: Panned tail of gold grains from 20BSRD012
In addition to the strong intersection from 20BSRD012, the following drill holes returned with assay results that are larger than 18 GxM (grade multiplied by interval) (using 0.5 g/t Au cut off, up to 3m internal dilution and full dilution of any core loss to 0.00 g/t Au include).
| Hole ID | Interval(m) | Grade(g/t) | From(m) | GxM |
|---|---|---|---|---|
| 20BSDD065 | 29 | 2.5 | 214 | 72.5 |
| 20BSDD051 | 16 | 2.55 | 186 | 40.8 |
| 20BSDD063 | 6.5 | 5.54 | 100.3 | 36.0 |
| 20BSRD013 | 33.45 | 0.92 | 234 | 30.8 |
| 20BSDD052 | 5 | 5.76 | 74 | 28.8 |
| 20BSDD055 | 11 | 2.52 | 184 | 27.7 |
| 20BSDD066 | 11.15 | 2.32 | 53 | 25.9 |
| 20BSRD015 | 9.2 | 2.64 | 90.8 | 24.3 |
| 20BSDD054 | 7 | 2.9 | 72 | 20.3 |
| 20BSDD051 | 5 | 3.82 | 162 | 19.1 |
| 20BSRD015 | 3.1 | 5.97 | 148.9 | 18.5 |
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Figure 2: Section A-A’ at Beasley Creek South (see Figure 3: Locations of 20BSRD005 and 20BSRD012Figure 3)
Market Announcement | Page 3 of 16
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A
A’
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Figure 3: Locations of 20BSRD005 and 20BSRD012
Market Announcement | Page 4 of 16
Karridale
During the June quarter 2020, three diamond holes were drilled from surface at Karridale for 537.8m. The holes were targeted to intersect optimised pit walls from the scoping study. These holes will be used for:
-
Geotechnical logging to refine PFS open pit design.
-
PQ3 core was predominantly drilled so that sufficient sample for comminution test work was available to inform the Stage 1 PFS
-
All holes were gamma logged to refine bulk density determination ahead of the Mineral Resource upgrade in Q3 2020
-
The holes have been wrapped in plastic and will not be cut for assay until after all metallurgical sampling has been concluded
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Figure 4: Visible gold in PQ3 core of Hole 20KADD002 from 117.65m to 117.7m
Lake Carey
Final results were received from the Lake Carey drilling program. No assays above 0.5 g/t Au were returned. Some multi-element sampling will be completed to assess if there are any pathfinder vectors associated with strong alteration intersected by hole 20LCDD001.
Market Announcement | Page 5 of 16
Stage 1 Open Pits Pre-feasibility Study
Stage 1 consists of Beasley Creek, Beasley Creek South, Karridale, Telegraph, Lancefield NorthWedge open pit deposits. The PFS commenced in June and Focus expects it would be completed by December 2020.
Market Announcement | Page 6 of 16
Coolgardie Gold Project
Brilliant Area
Five RC holes for 960m were drilled at the northern end of the existing Brilliant Open Pit and a further three RC holes for 470m were drilled at Brilliant North during March 2020. The drilling targeted proof of concept for a new mineralisation model where significant mineralisation was hosted by moderate east dipping lodes, not just the steep lodes historical targeted.
It is noted that historic sampling of some Brilliant North drilling campaigns has been incomplete, with sampling focused towards the main steep lode structural positions. This has been a barrier to early confirmation of the structural control at Brilliant North.
Focus is currently in the process of reviewing the existing resource models in light of the recent drilling results.
| Hole ID | Interval (m) Grade (g/t) From (m) |
|---|---|
| 20BLRC001 | 1 20.43 99 |
| 2 14.62 109 |
|
| 4 1.05 122 |
|
| 20BLRC002 | 3 3.68 30 |
| 4 1.25 54 |
|
| 9 1.2 79 |
|
| 6 1.46 155 |
|
| 20BLRC004 | 6 1.08 133 |
| 7 2.72 180 |
|
| 6 1.08 133 |
|
| 20BLRC005 | 2 12.63 106 |
| 1 9.13 133 |
|
| 5 2.64 145 |
|
| 20BNRC001 | 8 1.57 26 |
| 3 2.14 55 |
|
| 20BNRC002 | 1 13.00 11 |
| 10 0.58 29 |
|
| 5 0.68 135 |
|
| 20BNRC003 | 5 1.79 14 |
| 11 0.74 59 |
|
| 6 2.6 84 |
|
| 6 1.59 120 |
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Figure 5: Significant Brilliant and Brilliant North drill Intersections from the March 2020 program reported using 0.5 g/t Au cut off and up to 3m internal dilution
Market Announcement | Page 7 of 16
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Figure 6: Section view at Brilliant North
Treasure Island
In May 2020, Focus completed a short campaign of rock-chip confirmation sampling to target mapped veins. In total, 613 rock chip samples were taken to confirm historically reported rock chip sample values. The intention of the sampling program was to test sampling protocols and logistics ahead of proposed representative sampling programs.
Focus remains confident in the potential of Treasure Island and has filed a mining lease application.
Regional Exploration
During March, seven RC reconnaissance drill holes for 565m were completed. Results have just been received by Focus. The drilling targeted the following prospects:
-
Baileys – one hole for 162m;
-
Ada – two holes for 193m; and
-
Emu Hill – four holes for 410m.
The following intersections where recorded calculated at 0.5g/t Au cut off and up to 3m internal dilution:
| Hole ID | Deposit | Interval(m) | Grade(g/t) | From(m) |
|---|---|---|---|---|
| 20BYRC001 | Baileys | 4 | 0.78 | 120 |
| 20ADRC001 | Ada | 2 | 1.18 | 33 |
Market Announcement | Page 8 of 16
| Hole ID | Deposit | Interval(m) | Grade(g/t) | From(m) |
|---|---|---|---|---|
| 20ADRC001 | Ada | 4 | 1.63 | 86 |
| 20EHRC002 | Emu Hill | 1 | 0.75 | 22 |
| 20BLRC004 | Emu Hill | 1 | 2.62 | 18 |
The intersection at Baileys was hosted by a porphyry and the mine sequence was not actually intersected. As such the targeted geology is yet to be adequately tested.
The intersections recorded at Ada confirms mapped geology, structure and down-dip location of mineralisation targeted by historical workings. As the results are generally low tenor, further follow-up work is not warranted at this time.
The intersections at Emu Hill located low-grade +0.2g/t Au mineralisation on the targeted structure, confirming its presence but also downgrading the tenor and width of mineralisation. Follow-up drilling is not warranted at this time.
Pre-feasibility Study
In June, Focus decided to refresh the existing Pre-feasibility Study[2] to reflect the much-favourable gold price environment. Focus expects the 2017 PFS update will be finished early next month.
Corporate
During the quarter, Focus published its Annual Report for the year ended 31 December 2019 and sent out the Notice of Annual General Meeting, which will be held on 31 July 2020. The AGM is later than usual due to concerns around Covid-19.
The Van Blitterswyk Forfeiture Applications[3] have been dismissed following an agreement between Focus and the applicant. The commercial terms of the agreement are confidential, not material to Focus.
Focus spent about $3.34m in exploration during the quarter, which covers drilling, assay, payments to consultants and exploration personnel.
Per ASX Listing Rule 5.3.5, Focus paid $243,000 to related parties of the Company and their associates, which are Executive Directors’ salaries, non-Executive Directors’ fees, superannuation and rent for the CEO.
As at 30 June 2020, the Company’s cash position is as follows:
| Cash at Bank and Deposits Cash held on bond Total Cash and Equivalents |
$6.905m $13.631m |
|---|---|
| $20.536m |
2 ASX Announcement: 13 October 2017
3 ASX Announcement: 09 April 2020
Market Announcement | Page 9 of 16
Tenement Movements during the Quarter
Coolgardie Gold Project
| Tenement | Location | Percentage as at 01 April 2020 |
Percentage as at 30 June 2020 |
Note |
|---|---|---|---|---|
| M15/0630 | Bayleys | 100% | 100% | |
| M15/1433 | Bayleys | 100% | 100% | |
| M15/1788 | Bayleys | 100% | 100% | |
| P15/5717 | Bayleys | 100% | 100% | |
| P15/5995 | Bayleys | 100% | 100% | |
| P15/6254 | Bayleys | 100% | 100% | |
| P15/6256 | Bayleys | 100% | 100% | |
| M15/0277 | Bonnie Vale | 100% | 100% | |
| M15/0365 | Bonnie Vale | 100% | 100% | |
| M15/0595 | Bonnie Vale | 100% | 100% | |
| M15/0662 | Bonnie Vale | 100% | 100% | |
| M15/0711 | Bonnie Vale | 100% | 100% | |
| M15/0770 | Bonnie Vale | 100% | 100% | |
| M15/0852 | Bonnie Vale | 100% | 100% | |
| M15/0857 | Bonnie Vale | 100% | 100% | |
| M15/0877 | Bonnie Vale | 100% | 100% | |
| M15/0981 | Bonnie Vale | 100% | 100% | |
| M15/1384 | Bonnie Vale | 100% | 100% | |
| M15/1444 | Bonnie Vale | 100% | 100% | |
| M15/1760 | Bonnie Vale | 100% | 100% | |
| M15/1853 | Bonnie Vale | 0% | 0% | Under application |
| P15/5159 | Bonnie Vale | 100% | 100% | |
| P15/5702 | Bonnie Vale | 100% | 100% | |
| P15/5703 | Bonnie Vale | 100% | 100% | |
| P15/5704 | Bonnie Vale | 100% | 100% | |
| P15/5713 | Bonnie Vale | 100% | 100% | |
| P15/5714 | Bonnie Vale | 100% | 100% | |
| G15/0007 | Infrastructure | 100% | 100% | |
| L15/0027 | Infrastructure | 100% | 100% | |
| L15/0028 | Infrastructure | 100% | 100% | |
| L15/0034 | Infrastructure | 100% | 100% | |
| L15/0042 | Infrastructure | 100% | 100% | |
| L15/0051 | Infrastructure | 100% | 100% | |
| L15/0059 | Infrastructure | 100% | 100% | |
| L15/0063 | Infrastructure | 100% | 100% | |
| L15/0077 | Infrastructure | 100% | 100% | |
| L15/0078 | Infrastructure | 100% | 100% | |
| L15/0088 | Infrastructure | 100% | 100% | |
| L15/0090 | Infrastructure | 100% | 100% | |
| L15/0095 | Infrastructure | 100% | 100% | |
| L15/0096 | Infrastructure | 100% | 100% | |
| L15/0114 | Infrastructure | 100% | 100% | |
| L15/0116 | Infrastructure | 100% | 100% | |
| L15/0119 | Infrastructure | 100% | 100% |
Market Announcement | Page 10 of 16
| Tenement | Location | Percentage as at 01 April 2020 |
Percentage as at 30 June 2020 |
Note |
|---|---|---|---|---|
| L15/0122 | Infrastructure | 100% | 100% | |
| L15/0123 | Infrastructure | 100% | 100% | |
| L15/0126 | Infrastructure | 100% | 100% | |
| L15/0127 | Infrastructure | 100% | 100% | |
| L15/0130 | Infrastructure | 100% | 100% | |
| L15/0161 | Infrastructure | 100% | 100% | |
| L15/0164 | Infrastructure | 100% | 100% | |
| L15/0168 | Infrastructure | 100% | 100% | |
| L15/0169 | Infrastructure | 100% | 100% | |
| L15/0171 | Infrastructure | 100% | 100% | |
| L15/0172 | Infrastructure | 100% | 100% | |
| L15/0173 | Infrastructure | 100% | 100% | |
| L15/0174 | Infrastructure | 100% | 100% | |
| L15/0175 | Infrastructure | 100% | 100% | |
| L15/0177 | Infrastructure | 100% | 100% | |
| L15/0179 | Infrastructure | 100% | 100% | |
| L15/0186 | Infrastructure | 100% | 100% | |
| L15/0193 | Infrastructure | 100% | 100% | |
| L15/0194 | Infrastructure | 100% | 100% | |
| L15/0200 | Infrastructure | 100% | 100% | |
| L15/0211 | Infrastructure | 100% | 100% | |
| L15/0283 | Infrastructure | 100% | 100% | |
| L15/0294 | Infrastructure | 100% | 100% | |
| L15/0371 | Infrastructure | 100% | 100% | |
| L15/0403 | Infrastructure | 0% | 0% | Under application |
| L15/0405 | Infrastructure | 0% | 0% | Under application |
| E15/0986 | Lake Cowan | 100% | 100% | |
| G15/0043 | Lake Cowan | 0% | 0% | New application |
| L15/0408 | Lake Cowan | 0% | 0% | New application |
| M15/1882 | Lake Cowan | 0% | 0% | New application |
| P15/5963 | Londonderry | 100% | 100% | |
| P15/5964 | Londonderry | 100% | 100% | |
| P15/5965 | Londonderry | 100% | 100% | |
| P15/5966 | Londonderry | 100% | 100% | |
| P15/5967 | Londonderry | 100% | 100% | |
| P15/5968 | Londonderry | 100% | 100% | |
| P15/5969 | Londonderry | 100% | 100% | |
| P15/5970 | Londonderry | 100% | 100% | |
| P15/5971 | Londonderry | 100% | 100% | |
| P15/5972 | Londonderry | 100% | 100% | |
| P15/6118 | Londonderry | 100% | 100% | |
| P15/6119 | Londonderry | 100% | 100% | |
| P15/6120 | Londonderry | 100% | 100% | |
| P15/6121 | Londonderry | 100% | 100% | |
| P15/6122 | Londonderry | 100% | 100% | |
| P15/6123 | Londonderry | 100% | 100% | |
| P15/6176 | Londonderry | 0% | 0% | Under application |
| P15/6177 | Londonderry | 0% | 0% | Under application |
| P15/6178 | Londonderry | 0% | 0% | Under application |
Market Announcement | Page 11 of 16
| Tenement | Location | Percentage as at 01 April 2020 |
Percentage as at 30 June 2020 |
Note |
|---|---|---|---|---|
| M15/0385 | Lord Bob | 100% | 100% | |
| M15/1789 | Lord Bob | 100% | 100% | |
| P15/5712 | Lord Bob | 100% | 100% | |
| P15/5731 | Lord Bob | 100% | 100% | |
| P15/5733 | Lord Bob | 100% | 100% | |
| P15/5735 | Lord Bob | 100% | 100% | |
| P15/5939 | Lord Bob | 0% | 0% | Under application |
| P15/6102 | Lord Bob | 0% | 0% | Under application |
| M15/0709 | Nepean | 100% | 100% | |
| M15/1809 | Nepean | 100% | 100% | |
| M15/1874 | Nepean | 0% | 0% | Under application |
| P15/5574 | Nepean | 100% | 100% | |
| P15/5575 | Nepean | 100% | 100% | |
| P15/5625 | Nepean | 100% | 100% | |
| P15/5629 | Nepean | 100% | 100% | |
| P15/5738 | Nepean | 100% | 100% | |
| P15/5739 | Nepean | 100% | 100% | |
| P15/5740 | Nepean | 100% | 100% | |
| P15/5741 | Nepean | 100% | 100% | |
| P15/5742 | Nepean | 100% | 100% | |
| P15/5743 | Nepean | 100% | 100% | |
| P15/5749 | Nepean | 100% | 100% | |
| P15/5750 | Nepean | 100% | 100% | |
| M15/0384 | Norris | 100% | 100% | |
| M15/0515 | Norris | 100% | 100% | |
| M15/0761 | Norris | 100% | 100% | |
| M15/0791 | Norris | 100% | 100% | |
| M15/0871 | Norris | 100% | 100% | |
| M15/1153 | Norris | 100% | 100% | |
| M15/1422 | Norris | 100% | 100% | |
| M15/1793 | Norris | 100% | 100% | |
| P15/5729 | Norris | 100% | 100% | |
| P15/5730 | Norris | 100% | 100% | |
| P15/5732 | Norris | 100% | 100% | |
| P15/5734 | Norris | 100% | 100% | |
| P15/5736 | Norris | 100% | 100% | |
| P15/5756 | Norris | 100% | 100% | |
| P15/5807 | Norris | 100% | 100% | |
| P15/6002 | Norris | 100% | 100% | |
| P15/6033 | Norris | 100% | 100% | |
| M15/0150 | Three Mile Hill | 100% | 100% | |
| M15/0154 | Three Mile Hill | 100% | 100% | |
| M15/0636 | Three Mile Hill | 100% | 100% | |
| M15/0645 | Three Mile Hill | 100% | 100% | |
| M15/0781 | Three Mile Hill | 100% | 100% | |
| M15/0827 | Three Mile Hill | 100% | 100% | |
| M15/1341 | Three Mile Hill | 100% | 100% | |
| M15/1357 | Three Mile Hill | 100% | 100% | |
| M15/1358 | Three Mile Hill | 100% | 100% |
Market Announcement | Page 12 of 16
| Tenement | Location | Percentage as at 01 April 2020 |
Percentage as at 30 June 2020 |
Note |
|---|---|---|---|---|
| M15/1359 | Three Mile Hill | 100% | 100% | |
| M15/1432 | Three Mile Hill | 100% | 100% | |
| M15/1434 | Three Mile Hill | 100% | 100% | |
| M15/0023 | Tindals | 100% | 100% | |
| M15/0237 | Tindals | 100% | 100% | |
| M15/0410 | Tindals | 100% | 100% | |
| M15/0411 | Tindals | 100% | 100% | |
| M15/0412 | Tindals | 100% | 100% | |
| M15/0646 | Tindals | 100% | 100% | |
| M15/0660 | Tindals | 100% | 100% | |
| M15/0675 | Tindals | 100% | 100% | |
| M15/0958 | Tindals | 100% | 100% | |
| M15/0966 | Tindals | 100% | 100% | |
| M15/1114 | Tindals | 100% | 100% | |
| M15/1262 | Tindals | 100% | 100% | |
| M15/1293 | Tindals | 100% | 100% | |
| M15/1294 | Tindals | 100% | 100% | |
| M15/1461 | Tindals | 100% | 100% | |
| P15/5949 | Tindals | 100% | 100% | |
| P15/5987 | Tindals | 100% | 100% | |
| P15/6006 | Tindals | 100% | 100% | |
| P15/6251 | Tindals | 100% | 100% | |
| P15/6252 | Tindals | 100% | 100% | |
| P15/6253 | Tindals | 100% | 100% | |
| P15/6257 | Tindals | 100% | 100% | |
| P15/6332 | Tindals | 0% | 0% | Under application |
| P15/6333 | Tindals | 0% | 0% | Under application |
Laverton Gold Project
| Tenement | Location | Percentage as at 01 April 2020 |
Percentage as at 30 June 2020 |
Note |
|---|---|---|---|---|
| E38/1864 | Admiral Hill - Barnicoat | 100% | 100% | |
| E38/3232 | Admiral Hill - Barnicoat | 100% | 100% | |
| E38/3238 | Admiral Hill - Barnicoat | 100% | 100% | |
| M38/0264 | Admiral Hill - Barnicoat | 100% | 100% | |
| M38/0318 | Admiral Hill - Barnicoat | 100% | 100% | |
| M38/0376 | Admiral Hill - Barnicoat | 100% | 100% | |
| M38/0377 | Admiral Hill - Barnicoat | 100% | 100% | |
| M38/0387 | Admiral Hill - Barnicoat | 100% | 100% | |
| M38/0401 | Admiral Hill - Barnicoat | 100% | 100% | |
| M38/0507 | Admiral Hill - Barnicoat | 100% | 100% | |
| M38/1032 | Admiral Hill - Barnicoat | 100% | 100% | |
| M38/1042 | Admiral Hill - Barnicoat | 100% | 100% | |
| E38/1642 | Burtville | 100% | 100% | |
| E38/2032 | Burtville | 100% | 100% | |
| E38/3050 | Burtville | 100% | 100% | |
| E38/3051 | Burtville | 100% | 100% |
Market Announcement | Page 13 of 16
| Tenement | Location | Percentage as at 01 April 2020 |
Percentage as at 30 June 2020 |
Note |
|---|---|---|---|---|
| E38/3088 | Burtville | 100% | 100% | |
| E38/3217 | Burtville | 100% | 100% | |
| M38/0008 | Burtville | 100% | 100% | |
| M38/0073 | Burtville | 91% | 91% | |
| M38/0089 | Burtville | 91% | 91% | |
| M38/0261 | Burtville | 100% | 100% | |
| M38/1281 | Burtville | 100% | 100% | |
| E38/3424 | Central Laverton | 0% | 0% | Under application |
| M38/0143 | Central Laverton | 100% | 100% | |
| M38/0236 | Central Laverton | 100% | 100% | |
| M38/0270 | Central Laverton | 100% | 100% | |
| M38/0342 | Central Laverton | 100% | 100% | |
| M38/0345 | Central Laverton | 100% | 100% | |
| M38/0363 | Central Laverton | 100% | 100% | |
| M38/0364 | Central Laverton | 100% | 100% | |
| M38/1187 | Central Laverton | 100% | 100% | |
| P38/4163 | Central Laverton | 100% | 100% | |
| M38/0049 | Chatterbox | 100% | 100% | |
| M38/0101 | Chatterbox | 100% | 100% | |
| M38/0535 | Chatterbox | 100% | 100% | |
| M38/0693 | Chatterbox | 100% | 100% | |
| G38/0020 | Infrastructure | 100% | 100% | |
| G38/0024 | Infrastructure | 100% | 100% | |
| G38/0025 | Infrastructure | 100% | 100% | |
| G38/0033 | Infrastructure | 100% | 100% | |
| L38/0034 | Infrastructure | 100% | 100% | |
| L38/0052 | Infrastructure | 100% | 100% | |
| L38/0053 | Infrastructure | 100% | 100% | |
| L38/0054 | Infrastructure | 100% | 100% | |
| L38/0055 | Infrastructure | 100% | 100% | |
| L38/0056 | Infrastructure | 100% | 100% | |
| L38/0057 | Infrastructure | 100% | 100% | |
| L38/0063 | Infrastructure | 100% | 100% | |
| L38/0075 | Infrastructure | 100% | 100% | |
| L38/0076 | Infrastructure | 100% | 100% | |
| L38/0078 | Infrastructure | 100% | 100% | |
| L38/0092 | Infrastructure | 100% | 100% | |
| L38/0101 | Infrastructure | 100% | 100% | |
| L38/0108 | Infrastructure | 100% | 100% | |
| L38/0152 | Infrastructure | 100% | 100% | |
| L38/0153 | Infrastructure | 100% | 100% | |
| L38/0160 | Infrastructure | 100% | 100% | |
| L38/0165 | Infrastructure | 100% | 100% | |
| L38/0166 | Infrastructure | 100% | 100% | |
| L38/0173 | Infrastructure | 100% | 100% | |
| L38/0177 | Infrastructure | 100% | 100% | |
| L38/0179 | Infrastructure | 100% | 100% | |
| L38/0183 | Infrastructure | 100% | 100% | |
| L38/0231 | Infrastructure | 100% | 100% | |
| E38/2873 | Lake Carey | 100% | 100% |
Market Announcement | Page 14 of 16
| Tenement | Location | Percentage as at 01 April 2020 |
Percentage as at 30 June 2020 |
Note |
|---|---|---|---|---|
| P38/4099 | Lake Carey | 100% | 100% | |
| P38/4100 | Lake Carey | 100% | 100% | |
| P38/4102 | Lake Carey | 100% | 100% | |
| E38/1861 | Lancefield | 100% | 100% | |
| E38/3186 | Lancefield | 100% | 100% | |
| M38/0037 | Lancefield | 100% | 100% | |
| M38/0038 | Lancefield | 100% | 100% | |
| M38/0159 | Lancefield | 100% | 100% | |
| M38/0547 | Lancefield | 100% | 100% | |
| M38/1272 | Lancefield | 100% | 100% | |
| P38/4347 | Lancefield | 100% | 100% | |
| P38/4348 | Lancefield | 100% | 100% | |
| P38/4349 | Lancefield | 100% | 100% | |
| E38/1725 | Prendergast | 100% | 100% | |
| E38/1869 | Prendergast | 100% | 100% | |
| E38/2862 | Prendergast | 100% | 100% | |
| P38/4091 | Prendergast | 100% | 100% | |
| M38/0425 | Murrin Murrin | 0% | 0% | Au rights |
| M38/0505 | Murrin Murrin | 0% | 0% | Au rights |
Market Announcement | Page 15 of 16
The release of this ASX announcement was authorised by Mr Zhaoya Wang, CEO of Focus Minerals Ltd.
For further information For media and investor enquiries please contact: please contact:
Zaiqian Zhang Peter Klinger Chief Financial Officer Director, Investor Relations Focus Minerals Ltd. Cannings Purple Phone: +61 8 9215 7888 Phone: +61 411 251 540 Email: [email protected] Email: [email protected]
About Focus Minerals Limited (ASX: FML)
Focus Minerals is a Perth-based, ASX-listed gold exploration company focused on delivering shareholder value from its 100%-owned Laverton Gold Project and Coolgardie Gold Project, in Western Australia’s Goldfields.
The flagship Laverton Gold Project covers 386km[2] area of highly prospective ground that includes the historic Lancefield and Chatterbox Trend mines. Focus’ priority target is to confirm sufficient gold mineralisation at the Beasley Sheer Zone, Lancefield-Wedge Thrust and Karridale to support a Stage 1 production restart at Laverton. In parallel, Focus is working to advance key Laverton resource growth targets including Sickle, Ida-H and Burtville South.
Focus is committed to delivering shareholder value from the Coolgardie Gold Project, a 175km[2] tenement holding that includes the 1.2Mtpa processing plant at Three Mile Hill (on care and maintenance), by continuing exploration and value-enhancing activities.
Competent Person Statement
The information in this announcement that relates to Exploration Results is based on information compiled by Mr Alex Aaltonen, who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Aaltonen is an employee of Focus Minerals Limited. Mr Aaltonen has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.
Mr Aaltonen consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.
Page 16 of 16