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Focus Minerals Ltd.

Publié le 29 avril 2008

Delivers Maiden Gold Pour at Coolgardie Project, Western Australia

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Focus Minerals Ltd (ASX: FML)

 

ASX / MEDIA RELEASE                                                                                                   29 April 2008

 

FOCUS DELIVERS MAIDEN GOLD PRODUCTION AT COOLGARDIE PROJECT, WESTERN AUSTRALIA

FIRST 6,000t OF ORE PRODUCES APPROXIMATELY 2,000 OUNCES

 

 

 

 

 

KEY POINTS

 

·            Focus produces approximately 2,000 oz of gold from 6,000t  at grades in excess of 10g/t Au in first official gold pour in Coolgardie today

·            Earlier pours this month have produced a further 1,000 ounces from previously stockpiled ore, making a total of approximately 3,000 ounces produced to date

·            Higher than expected grades auger well for future development of the Perseverance ore body and surrounding areas

 

Australian-based gold and nickel company Focus Minerals Ltd (ASX: FML) is pleased to announce that it has completed its first official gold pour, comprising approximately 2,000 ounces, from the Perseverance Gold Deposit, part of its 100%-owned Coolgardie Gold Project in Western Australia.

 

The gold pour marks a significant achievement for Focus as it becomes Australia’s newest gold producer, and also heralds the revival of the historic Coolgardie Gold Field which has produced over 2.6 million ounces since 1892.

 

The official gold pour was attended in Coolgardie today by dignitaries including the Federal Member for Kalgoorlie, Mr Barry Haase MP, the Member for Murchison-Eyre, Mr John Bowler MLA, community leaders and members of the local and national media.

 

The gold produced was achieved from processing 6,000 tonnes of Perseverance ore at a grade in excess of 10 g/t Au which compares favourably with the reserve grade for the deposit of 8.3g/t Au. It comes after development of the Perseverance deposit commenced last month following a positive Bankable Feasibility Study (BFS) completed last year.

 

The combination of today’s official gold pour in addition to previous pours totalling approximately 1,000 ounces - sourced from previously stockpiled ore - will make up the Company’s first gold shipment of approximately 3,000 ounces. This effectively represents the Company’s first cashflow.

 

Commenting on the significant milestone, Focus Minerals’ Managing Director, Mr Peter Williams said: “Today’s gold pour is a defining moment for Focus and I’d like to thank our valued shareholders, the local Coolgardie and Kalgoorlie communities, our staff and contractors and everyone else who has supported us along the way.”

 

Focus recently upgraded the Probable gold reserve at Perseverance to an estimated 287,000t @ 8.3 g/t/Au

for a total of 76,000 ounces and early indications are that this figure will be improved upon based on the grades already being produced, which are higher than initial estimations.

 

“The ore grades we’ve been receiving have been excellent but not entirely unexpected given the conservative nature of our estimations,” said Mr Williams.

 

Mr Williams also said that while production was now Focus’ priority list, it was the delineation of additional ore reserved that will ensure the long-term prosperity of Focus

 

“We are still very confident that there are significant high-grade deposits yet to be discovered on our Coolgardie landholdings and that these deposits – along with our exciting nickel assets - will ensure the long term prosperity of Focus,” he said.

 

 

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.

 

The information in this report that relates to Ore Reserves was prepared under the direction of Brett Ustick, who is a member of The Australian Institute of Mining and Metallurgy. Brett Ustick is a full-time employee of Redemption Management Pty Ltd. Brett Ustick has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Brett Ustick consents to the inclusion in the report of the matters based on his information in the form and context 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.

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CODE : FML.AX
ISIN : AU000000FML4
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Focus Min. est une société développant des projet miniers d'or basée en Australie.

Focus Min. détient divers projets d'exploration en Australie.

Ses principaux projets en production sont COOLGARDIE, TINDALS MINING CENTRE et MOUNT GOLD en Australie et ses principaux projets en exploration sont NEPEAN MINE, MOUNT (REDEMPTION JV), LAKE COWAN et TREASURE ISLAND en Australie.

Focus Min. est cotée en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 48,4 millions AU$ (35,0 millions US$, 30,6 millions €).

La valeur de son action a atteint son plus haut niveau récent le 05 mars 2004 à 9,75 AU$, et son plus bas niveau récent le 13 mars 2020 à 0,15 AU$.

Focus Min. possède 182 750 000 actions en circulation.

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12/02/2009(Coolgardie)80% Increase in Gold Resources at Brilliant Deposit, Coolgar...
28/05/2008Commencement of Nepean Drilling Programme to Underpin Ongoin...
29/04/2008(Coolgardie)Delivers Maiden Gold Pour at Coolgardie Project, Western Aus...
03/04/2008(Perseverance) Upgraded Gold Reserves at Perseverance Gold Deposit Boosts ...
02/04/2008(Nepean Mine)Outstanding High-Grade Nickel Intercepts Enhance Nepean Proj...
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09/06/20162015 Annual Report
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31/03/20162015 Full Year Financial Accounts
29/01/2016December 2015 Quarterly Activities and Cashflow Report
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25/08/2015Correction to Quarterly Activities and Cashflow Report
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31/03/2015Focus Minerals Limited – Financial Report YE 2014
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04/12/2013Director Retirement
04/12/2013AGM Address
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31/01/2013December Quarterly Report
28/09/2012FY12 Full Year Results
07/08/2012Diggers & Dealers Presentation
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01/09/2011Launches iPad App on the Apple iTunes Store
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29/06/2011and Crescent Release Their Bidder's and Target's Statements
20/06/2011Takeover of Crescent Gold by Focus Minerals
14/04/2011On track to accelerate growth plans after completing $7m SPP...
07/02/2011To report 28% rise in interim profit to $6.2M
31/01/2011December 2010 Quarterly Report
24/08/2010Profit Guidance - Record full year net profit
29/07/2010June 2010 Quarterly Activities Report
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30/04/2010Activities Report For The Quarter Ended 31 March 2010
04/03/2010Delivers First Half A$4.9m Interim Net Profit
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