Focus Minerals Ltd.

Published : April 02nd, 2008

Outstanding High-Grade Nickel Intercepts Enhance Nepean Project Development

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Focus Minerals Limited (ASX: FML)

 

ASX RELEASE                                                        2 APRIL 2008

 

OUTSTANDINGHIGH-GRADE NICKEL INTERCEPTS ENHANCE NEPEAN PROJECT DEVELOPMENT

 

 

 

KEY POINTS

 

·                     RC drilling confirms exciting potential of Nepean Nickel Project with outstanding near-surface results including 3m @ 12.53% Ni , 1m @ 11.41% Ni and 3m @ 9.93% Ni.

 

·                     Further confirmation of the excellent potential of the Nepean Nickel Project to contain a substantial, high-grade and shallow nickel resource.

 

·                     High-grade ore position potentially accessible from the proposed portal position, offering potential for strong early cash flow on commencement of mining.

 

·                     Trial mining at Nepean began this month and is expected to be self funding.

 

·                     Bankable Feasibility Study nearing completion.

 

Western Australian nickel and gold company, Focus Minerals Ltd (ASX: FML) is pleased to report further outstanding results from a recently completed program of shallow step-out and in-fill drilling  to the south of the Company’s 100%-owned Nepean Nickel Mine, located 25km south of Coolgardie in Western Australia.

 

The results – from drilling carried out as part of the current Feasibility Study on re-commissioning the Nepean Mine – provide further confirmation of the excellent potential of the Nepean Nickel Project to contain a substantial, high-grade and shallow nickel resource as indicated by previously announced drill results including 6m @ 7.44% Ni.

 

Significant intersections from the recent drilling include:

 

              6m @ 2.82% Ni from 53m;

              3m @ 9.93% Ni from 49m;

              1m @ 3.18% Ni from 59m;

              4m @ 6.63% Ni from 46m;

              1m @ 11.41% Ni from 54m;

              3m @ 12.53% Ni from 37m; and

              4m @ 2.76% Ni from 38m.

 

The current drilling program, comprising 13 Reverse Circulation (RC) holes for a total of 737m (detailed in Table 1), focused on an area approximately 50m to the south of known remnant ore blocks at Nepean and was designed to test for shallow strike extensions of the remnant ore blocks with the potential to be directly accessible from the proposed portal position for decline development from the surface.

 

These outstanding intersections, dominantly hosted within fresh basalt, have confirmed that a shoot of high-grade nickel extends to the south from known remnant ore. Due to its proximity to surface, this ore will be easily accessible – significantly enhancing the potential for early cash flow from the proposed decline.

 

In addition, the style of mineralisation is very similar to a number of other Komatiitic nickel mines around the Kambalda Dome, increasing the near-mine prospectivity for similar high-grade, high-value nickel shoots.  

 

The Nepean Nickel Mine produced 32,303 tonnes of nickel metal between 1970 and 1987 at a recovered grade of 2.99% nickel from 1.1Mt of ore. However, while centred on the historical mine, Focus Minerals’ Nepean Nickel Project also incorporates a 30km strike length of Kambalda-style nickel sulphide mineralisation.

 

The Company has recently re-commissioned the Nepean Project to initially extract remnant mineralized ore. A Bankable Feasibility Study (BFS) on full scale mining of this project, including the evaluation of a decline to lower levels, is due to be completed this month.

 

A program of trial mining has recently commenced to extract remnant ore initially from the 6 Level (approximately 190 metres below surface). This program is expected to be self funding and will enable Focus to acquire further information about mining conditions before commencing development of a decline to access previously untapped ore and provide for mining from the lower levels.

 

Last year, the Company upgraded the Nepean resource by 45% to 591,000t @ 2.2% Ni, following a re-assessment and re-modelling of transitional, fresh and remnant mineralisation at the mine.

 

Commenting on the latest results, Focus’ Managing Director, Mr Peter Williams, said: “These latest intersections are highly encouraging and significantly enhance the development potential of Nepean, where we began trial mining for remnant ore earlier this month.

 

“We were confident of the potential to delineate additional high-grade ore positions close to surface, but these results have far and away exceeded even our own expectations,” he added. “Combined with the commencement of gold production this month at Perseverance, this is a very exciting time for the Company.”

 

Table 1 – RC Drill Results

 

Drill Hole

Northing

Easting

AZI

Inc

Depth(m)

From

To

Ni %

 

NP084500-1

4500

960

90

-60

60

52

53

1.52

 

 

 

 

 

 

 

58

59

1.34

 

 

 

 

 

 

 

 

 

 

 

NP084490-1

4490

960

90

-60

62

53

59

6m@2.82

 

 

 

 

 

 

 

 

 

 

 

NP084480-1

4480

960

90

-60

60

49

52

3m@9.93

 

 

 

 

 

 

 

53

54

1.65

 

 

 

 

 

 

 

 

 

 

 

NP084480-2

4490

950

90

-60

75

59

60

3.18

 

 

 

 

 

 

 

 

 

 

 

NP084470-1

4470

960

90

-60

65

46

50

4m@6.63

Including 2m@12.1% Ni

 

 

 

 

 

 

54

55

11.41

 

 

 

 

 

 

 

 

 

 

 

Drill Hole

Northing

Easting

AZI

Inc

Depth(m)

From

To

Ni %

 

NP084470-2

4470

970

90

-60

60

37

40

3m@12.53

 

 

 

 

 

 

 

 

 

 

 

NP084460-1

4460

960

90

-60

55

N/S

 

 

 

 

 

 

 

 

 

 

 

 

 

NP084460-2

4460

970

90

-60

47

38

42

4m@2.76

 

 

 

 

 

 

 

 

 

 

 

NP084450-1

4450

965

90

-60

50

N/S

 

 

 

 

 

 

 

 

 

 

 

 

 

NP084450-2

4450

975

90

-60

40

N/S

 

 

 

 

 

 

 

 

 

 

 

 

 

NP4450-1

4450

970

90

-60

60

32

38

6m@7.44

Previously announced

 

 

 

 

 

 

 

 

 

 

NP084440-1

4450

975

90

-60

40

N/S

 

 

 

 

 

 

 

 

 

 

 

 

 

NP084420-1

4450

980

90

-60

35

N/S

 

 

 

 

 

 

 

 

 

 

 

 

 

NP084400-1

4400

980

90

-60

35

N/S

 

 

 

 

ENDS

 

Released by:

On behalf of:

Nicholas Read/Jason Cunningham

Don Taig, Chairman

Peter Williams, Managing Director

Read Corporate
Focus Minerals Ltd

Telephone: (+61-8) 9388-1474

Telephone: (+61-8) 9215-7888

www.readcorporate.com.au

Web: www.focusminerals.com.au

 

COMPETENT PERSON’S STATEMENT

The information in this report relating to Resources and Reserves are based on work supervised by Mr Chuck McCormick who is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr McCormick has the relevant experience as a “Competent Person” as defined in the 2004 edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves in relation to the mineralisation reported on. Mr McCormick is Exploration Manager of Focus Minerals Ltd and consents to the inclusion of the material in the form and content in which it appears.

 

BACKGROUND INFORMATION – FOCUS MINERALS LTD

Focus Minerals Ltd (ASX: FML) is an Australian-based exploration and development group whose focus is to become a significant gold and nickel producer in the Coolgardie-Kalgoorlie-Widgiemooltha region of Western Australia.

 

Focus Minerals is the largest landholder in the Coolgardie Gold Belt located in Western Australia, 560km east of Perth and 35km west of the ‘Super Pit’ in Kalgoorlie-Boulder. More than 2.6 million ounces of gold has been produced from the Coolgardie gold belt alone since 1892. Focus holds the mineral rights to more than 210sq km of tenements including Measured, Indicated and Inferred Resources exceeding 1.65 million ounces of gold as well as the 1.2mtpa Three Mile Hill processing plant.

 

Focus Minerals is also fast tracking development of its wholly-owned Nepean Nickel Project (current estimated resource totalling 591,300t @ 2.2% Ni) located 25km south of Coolgardie. Focus has a view of recommencing mining operations from the historic production centre in 2008.

 

 

 

READ CORPORATE
Public Relations Corporate Communications
T: (+61-8) 9388-1474 | F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au 

PLEASE NOTE:

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Focus Minerals Ltd.

PRODUCER
CODE : FML.AX
ISIN : AU000000FML4
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Focus Min. is a gold development stage company based in Australia.

Focus Min. holds various exploration projects in Australia.

Its main assets in production are COOLGARDIE, TINDALS MINING CENTRE and MOUNT GOLD in Australia and its main exploration properties are NEPEAN MINE, MOUNT (REDEMPTION JV), LAKE COWAN and TREASURE ISLAND in Australia.

Focus Min. is listed in Australia and in Germany. Its market capitalisation is AU$ 52.1 millions as of today (US$ 38.9 millions, € 33.6 millions).

Its stock quote reached its highest recent level on March 05, 2004 at AU$ 9.75, and its lowest recent point on March 13, 2020 at AU$ 0.15.

Focus Min. has 182 750 000 shares outstanding.

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Annual reports of Focus Minerals Ltd.
FY12 Annual Report & September Quarterly Report
Nominations of Focus Minerals Ltd.
7/5/2011Crescent Directors Accept the Focus Offer
4/20/2011Appoints two new directors to board
1/14/2009Appointment of Chief Operating Officer
3/4/2008 Appoints Mining Contractor, Signs Toll Treatment Agreement ...
Project news of Focus Minerals Ltd.
7/11/2011June Gold Production up 34%
6/8/2011Open Briefing: CEO on Production Ramp-Up and Outlook
5/23/2011(Tindals Mining Centre)Commences production at Tindals open pits
4/19/2011(Tindals Mining Centre)Commences development of three new open pits at Tindals Mini...
3/17/2011(Mount Gold)Production set for significant boost as mining starts at The...
3/4/2011(Treasure Island)Focus acquires remaining stake in Treasure Island gold proje...
3/1/2011(Tindals Mining Centre)High-grade results point to more open pit resources at Tinda...
2/10/2011(Tindals Mining Centre)Resources upgrade and bumper drilling results highlight stro...
1/24/2011(Coolgardie)High-grade intercepts at Big Blow strengthen Tindals open pi...
1/12/2011(Coolgardie)Hits target with production of 21,000oz in December quarter
6/15/2010Acquires High-Grade Gold-Copper Project in WA
9/7/2009(Mount (redemption Jv))Poised to Become Significant Mid-Tier Gold Producer After Se...
9/7/2009(Mount (redemption Jv))Commencement of Mining at The Mount
8/11/2009(Tindals Mining Centre)High Grade Intercepts at Tindals Mining Centre
8/11/2009(Tindals Mining Centre)Exploration Drilling Delivers Further High-Grade Gold Interc...
2/12/2009(Coolgardie)80% Increase in Gold Resources at Brilliant Deposit, Coolgar...
5/28/2008Commencement of Nepean Drilling Programme to Underpin Ongoin...
4/29/2008(Coolgardie)Delivers Maiden Gold Pour at Coolgardie Project, Western Aus...
4/3/2008(Perseverance) Upgraded Gold Reserves at Perseverance Gold Deposit Boosts ...
4/2/2008(Nepean Mine)Outstanding High-Grade Nickel Intercepts Enhance Nepean Proj...
3/26/2008(Coolgardie)Substantial Resource Upgrade for Countess Gold Deposit, Cool...
3/7/2008(Coolgardie)unveils $64m Strategy to Buyout Cooolgardie Gold JV
2/19/2008(Coolgardie)Further Resource Upgrade for High-Grade Perseverance Gold De...
Corporate news of Focus Minerals Ltd.
6/9/20162015 Annual Report
4/29/2016March Quarterly Activities and Cashflow Report
4/29/2016Coolgardie and Laverton Exploration Update
4/18/20162015 Annual Report
3/31/20162015 Full Year Financial Accounts
1/29/2016December 2015 Quarterly Activities and Cashflow Report
1/27/2016More Evidence of Significant System at Karridale
11/17/2015Maiden High Grade Resource For Bonnie Vale
10/29/2015September 2015 Quarterly Activities and Cashflow Report
10/16/2015Bonnie Vale Resource Modelling Commences
8/25/2015Correction to Quarterly Activities and Cashflow Report
7/29/2015June 2015 Quarterly Activities and Cashflow Report
7/24/2015Coolgardie Exploration Update: Bonnie Vale Continues to Deli...
4/13/2015Laverton Exploration Update
3/31/2015Focus Minerals Limited – Financial Report YE 2014
2/11/2015Coolgardie Exploration Update
2/11/2015Focus Minerals Ltd December 2014 Quarterly
12/4/2013Director Retirement
12/4/2013AGM Address
2/5/2013Management Change
1/31/2013December Quarterly Report
9/28/2012FY12 Full Year Results
8/7/2012Diggers & Dealers Presentation
10/13/2011Crescent Gold Board Changes
9/1/2011Launches iPad App on the Apple iTunes Store
8/3/2011Relevant Interest Over 50% in Crescent
6/29/2011and Crescent Release Their Bidder's and Target's Statements
6/20/2011Takeover of Crescent Gold by Focus Minerals
4/14/2011On track to accelerate growth plans after completing $7m SPP...
2/7/2011To report 28% rise in interim profit to $6.2M
1/31/2011December 2010 Quarterly Report
8/24/2010Profit Guidance - Record full year net profit
7/29/2010June 2010 Quarterly Activities Report
7/29/2010Quarterly Report for the Period Ending 30 June 2010
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7/7/2010On Track to Produce 80,000oz for Calendar Year 2010 - Over 4...
6/3/201080% Increase in Gold Resources at Cyanide Deposit
4/30/2010March 2010 Quarterly
4/30/2010Activities Report For The Quarter Ended 31 March 2010
3/4/2010Delivers First Half A$4.9m Interim Net Profit
1/28/2010Activities Report For The Quarter Ended 31 December 2009
1/27/2010Signs Deal with La Mancha
11/26/2009Market Update
11/9/2009Record Milling Campaign Delivers Gold Production of ~ 21,900...
10/27/2009September Activities Report
10/19/2009Audio Presentation to the Australian Gold Conference
9/17/2009 (Audio) Focus Announces Maiden 2009 Year Net Profit - Mr Ca...
9/9/2009(Audio) Emerging Mid-Tier Gold Producer Steps Closer to Prod...
8/12/2009Signs Mill Treatment Exclusivity Agreement with Matsa Resour...
7/29/2009(Audio) Board Room Radio Broadcast
7/23/2009June Quarterly Activities Report
6/30/2009Delivers Record Gold Production of 19,226oz From Recent Mill...
2/24/2009Landmark A$28M Capital Raising To Fund Aggressive Growth Str...
1/23/2009 Activities Report for the Quarter Ended 31 December 2008
12/1/2008(Tindals Mining Centre)69% Increase in Probable Ore Reserves at Tindals Mining Cent...
11/26/2008Chairman's Supplementary Statement - AGM 25th November 2008
7/29/2008June Quarterly Report
5/1/2008Completes Settlement of JV Acquisition
5/1/2008Quarterly Activities Report
3/11/2008Completes $14M Placement, Announces Details of Share Purchas...
1/31/2008December 2007 Quarterly Activities Report
1/31/2008Enters into Exclusivity Agreement to Negotiate the Proposed ...
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