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FOCUS MINERALS LTD — Interim / Quarterly Report 2024
Jan 30, 2024
64932_rns_2024-01-30_6854fcda-6404-4e52-8a76-ccc7731e1d1b.pdf
Interim / Quarterly Report
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Market Announcement
31 January 2024
December 2023 Quarterly Activities Report
Operations:
Coolgardie Gold Operations:
-
Processing 266,786 tonnes of gold ore at 0.98 g/t and 87% recovery produced 7,262 ounces of gold for the quarter.
-
Commissioning of the Three Mill Hill (TMH) treatment plant was completed during the quarter, with the November mill throughput rate exceeding the nameplate capacity of 100,000 tonnes per month.
-
Mill feed was predominantly from low grade historical stockpiles for commissioning whilst Greenfields ore production ramps up.
-
The cut back at Greenfields Open Pit was largely complete at quarter end. 910,799 tonnes of waste and 73,622 tonnes of ore was mined for the period.
-
Mining focussed on deepening the Greenfields pit is expected to result in a significant reduction in stripping ratio and increasing ore production to provide 100% ore feed to the processing plant in the coming months.
-
Bonnie Vale Underground Mine Ore Reserve was updated delivering 932Kt @ 5.9 g/t for 177,920 oz (+17% increase in oz).
-
A significantly reduced production outcome is expected in January 2024 with an extended power outage of 10 days resulting from storm damage to the Western Power 220 KVA power line to the Goldfields region.
Exploration Activities:
Coolgardie Gold Project
-
Several Mineral Resources were updated for input into future mine planning. The aggregate Measured + Indicated + Inferred Mineral Resources at the Coolgardie Gold Project now total 46.2Mt @ 1.8g/t for 2.7Moz.
-
Planning and field checks completed for 2024 exploration programs.
Page 1 of 11
Laverton Gold Project
- 50 RC exploration holes for 7,186m were completed at Laverton in the December quarter 2023.
Corporate Highlights:
- Cash (unrestricted) at 31 December 2023: $1.198M.
West Australian gold company Focus Minerals ( ASX: FML ) ( Focus or the Company ) is pleased to provide its Quarterly Activities Report for the quarter ended 31 December 2023. Most of the Company’s effort during the quarter was directed towards the Coolgardie Gold Project, in line with the previously announced plan to resume gold mining operations.
Coolgardie Gold Operations
The Coolgardie Gold Project ( Coolgardie ) covers 121km[2] of highly prospective tenements on the outskirts of the Coolgardie township in the Goldfields region. The Company’s efforts are focused on the ramp up of the Three Mile Hill ( TMH ) plant which reported its first gold production during the September quarter 2023.
CGO Production Activities
During the quarter under review substantial production progress was made:
Greenfields OP Mining:
-
Cut back of the North and South pit walls was largely complete at quarter end.
-
910,799 tonnes of waste and 73,622 tonnes of ore was mined during the quarter with a strip ratio of 12.4 waste to ore tonnes.
-
Mining will now focus on deepening the existing pit with large exposures of ore on the floor of the pit. This will see a significant reduction in the stripping ratio and capacity to provide 100% Greenfields ore feed into the processing plant.
-
The Big Blow small mining project was successfully completed with 9,480 tonnes mined at 3.69g/t containing 1,123 oz.
TMH ore processing:
-
Commissioning of the refurbished plant was completed during the December quarter.
-
266,786 tonnes were processed at 0.98 g/t and 87% recovery and produced 7,262 ounces of gold, with 6,592oz poured and shipped. Gold in circuit increased to 670 oz over the quarter.
-
Mill feed for the December quarter consisted of 81% historical low-grade stockpiles, 15% Greenfields open pit ore and 4% Big Blow open pit.
-
The TMH Plant achieved nameplate capacity (1.2Mtpa) rate in November, processing 101,764 tonnes during the month. December processing at 77,699 tonnes was affected by a planned 5-day maintenance shutdown.
-
Mill availability for the December quarter at 89%, which is an acceptable level given the commissioning phase and the yearly 92% availability target.
-
Crusher feed for the December quarter consisted of 216k tonnes at 0.87g/t from historic low-grade stockpiles, 9.5k tonnes at 3.69 g/t from Big Blow and 40.7k tonnes at 1.02 g/t of mined ore from Greenfields.
-
A significantly reduced production outcome is expected in January 2024 with an extended power outage of 10 days resulting from storm damage to the Western Power 220 KVA power line to the Goldfields region.
Market Announcement | Page 2 of 11
Bonnie Vale Underground Project:
- The Bonnie Vale Underground Mine Ore Reserve was updated delivering 932Kt @ 5.9 g/t for 177,920 oz (+17% increase in oz). This Reserve and updated mine design will form the basis for the development project anticipated to commence in 2024.
Exploration Activities
Various Coolgardie Gold Project Mineral Resources reviews were reviewed improving the quality of the targeted Mineral Resources with update to JORC 2012 status. Coolgardie Measured + Indicated + Inferred Mineral Resources have increased by 525.3Kt @ 1.19 g/t for 20.1Koz. Coolgardie Gold Project aggregate Measured + Indicated + Inferred Mineral Resources total 46.2Mt @ 1.8g/t for 2.7Moz (See ASX announcement dated 1 December 2023).
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Figure 1: Key Coolgardie project deposits with recent Mineral Resource Estimates.
Market Announcement | Page 3 of 11
The 2024 Coolgardie exploration budget/plan has been advanced. Additional field checks and clearances will be completed in January 2024 with drilling to resume towards the end of January.
Laverton Gold Project
50 RC exploration holes for 7,186m were completed at Laverton in the December quarter 2023. Several Mineral Resource updates were progressed during the December quarter for compilation in the March Quarter 2024.
==> picture [401 x 560] intentionally omitted <==
Figure 2: Second half 2023 Laverton RC drilling.
Market Announcement | Page 4 of 11
Corporate
Focus received approximately $21.311M from the proceeds of sale of gold during the Quarter.
The Company has repaid a A$20 million loan to its major shareholder, Shandong Gold Group Co Ltd, with the drawdown of funds from a new loan facility. Material terms of the new loan facility are:
Facility Amount: RMB100 million Security: Unsecured Loan Term: 1 year Interest Rate: 6.5% per annum Repayment Terms: Focus Minerals Ltd may repay the loan earlier should sufficient funds become available.
Focus spent $1.706M on exploration during the December quarter, including on drilling, assays and payments to consultants and exploration personnel.
In compliance with ASX Listing Rule 5.3.5, Focus reports it has paid $244,000 to related parties of the Company and their associates, which includes Executive Directors’ salaries, non-Executive Directors’ fees, superannuation and rent for the Directors.
As at 31 December 2023, the Company’s cash position is as follows:
| Cash at Bank and Deposits Cash held on bond Total Cash and Equivalents |
$1.198m $5.551m |
|---|---|
| $6.749m |
Market Announcement | Page 5 of 11
Tenement Movements during the Quarter
Coolgardie Gold Project
| Tenement | Location | Percentage as at 01 October 2023 |
Percentage as at 31 December 2023 |
Note |
|---|---|---|---|---|
| M15/0150 | Bayleys | 100% | 100% | |
| M15/0630 | Bayleys | 100% | 100% | |
| M15/1434 | 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% | |
| P15/6598 | Bonnie Vale | 100% | 100% | |
| P15/6670 | Bonnie Vale | 100% | 100% | |
| P15/6801 | Bonnie Vale | 0% | 0% | Under application |
| P15/6825 | Gunga | 0% | 0% | Under application |
| P15/6826 | Gunga | 0% | 0% | Under application |
| P15/6827 | Gunga | 0% | 0% | Under application |
| P15/6828 | Gunga | 0% | 0% | Under application |
| G15/0007 | Infrastructure | 100% | 100% | |
| G15/0046 | Infrastructure | 0% | 0% | Under application |
| 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% |
Market Announcement | Page 6 of 11
| Tenement | Location | Percentage as at 01 October 2023 |
Percentage as at 31 December 2023 |
Note |
|---|---|---|---|---|
| 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% | |
| 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 |
| L15/0421 | Infrastructure | 0% | 0% | Under application |
| L15/0455 | Infrastructure | 0% | 0% | Under application |
| L15/0458 | Infrastructure | 0% | 0% | Under application |
| L15/0459 | Infrastructure | 0% | 100% | Granted |
| P15/5964 | Londonderry | 100% | 100% | |
| P15/5966 | Londonderry | 100% | 100% | |
| P15/5967 | Londonderry | 100% | 100% | |
| P15/5968 | Londonderry | 100% | 100% | |
| P15/5969 | Londonderry | 100% | 0% | Surrendered |
| P15/5970 | Londonderry | 100% | 0% | Surrendered |
| 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 | 100% | 100% | |
| P15/6177 | Londonderry | 100% | 100% |
Market Announcement | Page 7 of 11
| Tenement | Location | Percentage as at 01 October 2023 |
Percentage as at 31 December 2023 |
Note |
|---|---|---|---|---|
| P15/6178 | Londonderry | 100% | 100% | |
| M15/0385 | Lord Bob | 100% | 100% | |
| M15/1789 | Lord Bob | 100% | 100% | |
| P15/5712 | Lord Bob | 100% | 100% | |
| P15/5939 | Lord Bob | 100% | 100% | |
| P15/6102 | Lord Bob | 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% | |
| P15/6002 | Norris | 100% | 100% | |
| P15/6033 | Norris | 100% | 100% | |
| P15/6605 | Norris | 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% | |
| M15/1359 | Three Mile Hill | 100% | 100% | |
| M15/1432 | 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% | |
| M15/1433 | Tindals | 100% | 100% | |
| M15/1461 | Tindals | 100% | 100% | |
| M15/1903 | Tindals | 0% | 0% | Under application |
| P15/5949 | Tindals | 100% | 0% | Surrendered |
| P15/5987 | Tindals | 100% | 0% | Surrendered |
| P15/6251 | Tindals | 100% | 100% | |
| P15/6252 | Tindals | 100% | 100% | |
| P15/6253 | Tindals | 100% | 100% | |
| P15/6257 | Tindals | 100% | 100% | |
| P15/6333 | Tindals | 0% | 0% | Under application |
Market Announcement | Page 8 of 11
| Tenement | Location | Percentage as at 01 October 2023 |
Percentage as at 31 December 2023 |
Note |
|---|---|---|---|---|
| P15/6335 | Tindals | 100% | 100% | |
| M15/1874 | Nepean | 0% | 0% | RoyaltyRights |
| P15/5574 | Nepean | 0% | 0% | RoyaltyRights |
| P15/5575 | Nepean | 0% | 0% | RoyaltyRights |
| P15/5739 | Nepean | 0% | 0% | Royalty Rights |
Laverton Gold Project
| Tenement | Location | Percentage as at 01 October 2023 |
Percentage as at 31 December 2023 |
Note |
|---|---|---|---|---|
| E38/1864 | Admiral Hill - Barnicoat | 100% | 100% | |
| E38/3232 | Admiral Hill - Barnicoat | 100% | 100% | |
| E38/3238 | Admiral Hill - Barnicoat | 100% | 100% | |
| E38/3565 | Admiral Hill - Barnicoat | 100% | 100% | |
| E38/3661 | Admiral Hill - Barnicoat | 100% | 100% | |
| E38/3691 | Admiral Hill - Barnicoat | 0% | 0% | Under application |
| E38/3824 | Admiral Hill - Barnicoat | 0% | 0% | Under application |
| 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% | |
| P38/4519 | 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% | |
| E38/3088 | Burtville | 100% | 100% | |
| E38/3217 | Burtville | 100% | 100% | |
| E38/3659 | Burtville | 0% | 0% | Under application |
| E38/3739 | Burtville | 0% | 0% | Withdrawn |
| E38/3816 | Burtville | 0% | 0% | Under application |
| 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% | |
| P38/4547 | Burtville | 100% | 100% | |
| E38/3424 | Central Laverton | 100% | 100% | |
| E38/3858 | Central Laverton | 0% | 0% | Under application |
| E38/3859 | 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% |
Market Announcement | Page 9 of 11
| Tenement | Location | Percentage as at 01 October 2023 |
Percentage as at 31 December 2023 |
Note |
|---|---|---|---|---|
| M38/0345 | Central Laverton | 100% | 100% | |
| M38/0363 | Central Laverton | 100% | 100% | |
| M38/0364 | Central Laverton | 100% | 100% | |
| M38/1187 | Central Laverton | 100% | 100% | |
| E38/3639 | Chatterbox | 100% | 100% | |
| E38/3821 | Chatterbox | 0% | 100% | Granted |
| E38/3823 | Chatterbox | 0% | 0% | Under application |
| E38/3830 | Chatterbox | 0% | 0% | Under application |
| E38/3832 | Chatterbox | 0% | 0% | Under application |
| 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% | |
| L38/0335 | Infrastructure | 100% | 100% | |
| L38/0336 | Infrastructure | 100% | 100% | |
| L38/0337 | Infrastructure | 100% | 100% | |
| L38/0338 | Infrastructure | 100% | 100% | |
| L38/0339 | Infrastructure | 0% | 0% | Under application |
| E38/2873 | Lake Carey | 100% | 100% | |
| E38/3604 | Lake Carey | 0% | 0% | Withdrawn |
| E38/3186 | Lancefield | 100% | 100% | |
| M38/0037 | Lancefield | 100% | 100% | |
| M38/0038 | Lancefield | 100% | 100% |
Market Announcement | Page 10 of 11
| Tenement | Location | Percentage as at 01 October 2023 |
Percentage as at 31 December 2023 |
Note |
|---|---|---|---|---|
| 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% | |
| P38/4551 | Prendergast | 100% | 100% | |
| M38/0425 | Murrin Murrin | 0% | 0% | Au Rights |
| M38/0505 | Murrin Murrin | 0% | 0% | Au Rights |
The release of this ASX announcement was authorised by Mr Wanghong Yang, Executive Chairman of Focus Minerals Ltd.
For further information please contact:
Nicholas Ong Company Secretary Focus Minerals Ltd. Phone: +61 8 9215 7888 Email: [email protected]
About Focus Minerals Limited (ASX: FML)
Focus is committed to delivering shareholder value from the Coolgardie Gold Operation, a 121km[2] tenement holding that includes a 1.2Mtpa processing plant at Three Mile Hill, with commencement of mining activities in mid2023. A new Life of Mine plan with 7-year production for 402,000oz of gold was announced to the ASX on 24 October 2022.
The Laverton Gold Project covers 384km[2] area of highly prospective ground that includes the historic Lancefield and Chatterbox Trend mines. Focus’ priority target is to confirm sufficient gold mineralisation to support production restart at Laverton.
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.
Market Announcement | Page 11 of 11