Focus Minerals Limited: More High-Grade Results Show Strong Potential Of Perseverance North Discovery
16.09.2010 | ABN Newswire
12:42 AEST Sept 16, 2010 ABN Newswire (C) 2004-2010 Asia Business News PL. All Rights Reserved.Perth, Australia (ABN Newswire) - Gold producer Focus Minerals (ASX: FML) is pleased to announce excellent high-grade gold intersections from an underground drilling program designed to target the recently discovered Perseverance North Ore Body In late 2009 a number of EM targets, including Perseverance North, were identified during a down-hole EM program carried out at the Tindals Project within the Coolgardie Gold Project.
Drilling into one of the targets in May 2010 (see ASX release dated 7th July 2010) highlighted Perseverance style mineralisation to the north of the main Perseverance ore body. This drilling delineated a target of over 140 metres in strike and 200 metres in dip with intersections including:
- 4.2m @ 3.6g/t Au
- 5.2m @ 3.6g/t Au; and
- 4.6m @ 5.9g/t Au
The follow up program into the target area has intersected further mineralisation, with results from the first two holes of an 8 hole program delivering significant high grade mineralisation including:
- 4.4m @ 13.3g/t Au
- 3.9m @ 3.2g/t Au
The drilling intersected quartz-sulphide structures of similar appearance to those seen in the main Perseverance ore body. The program was designed to confirm and infill the strike, depth, continuity and the tenor of the mineralisation within the target zone.
The 4.4m @ 13.3g/t intersection vertically intersected the midpoint of current drilling extremities and provides growing confidence that Perseverance North will host a substantial resource. The zone remains open at depth and along strike.
The Perseverance North ore body can be easily accessed with only 75 metres of horizontal development required from the existing 205 level at Perseverance. Detailed mine planning will begin once all results from the remaining 6 holes are received.
Surface EM Target Drilling
The use of DHEM continues to provide reliable target identification and classification with surface drilling into a second identified EM target also delivering high grade intercepts. Both holes drilled into this second target have returned anomalous gold intersections providing further confidence that substantial ore bodies will be discovered in Coolgardie with the aid of EM technology.
Two holes with assays received to date are;
- 2m @ 7.42g/t from 173 metres; and
- 1m @ 1.4g/t from 134 metres
This immediately highlights another potential high grade zone that is also within easy access of the current underground workings.
Summary
Focus Chief Executive Officer Campbell Baird said the latest results highlighted the enormous potential of the recently discovered Perseverance North deposit, 'The results make us increasingly confident that Perseverance North will make a major contribution to the growth of the Tindals Project,' Mr Baird said.'Importantly, it is just 150m from surface, 75m from existing development and mining at Perseverance is already at 300m deep so the upside is substantial.
'It also provides further evidence that there is much more gold to be found at Tindals in the form of Perseverance repeats as we continue to target a host of EM conductors.'
For the complete Focus Minerals announcement including figures and tables, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/63736-ASX-FML-505559.pdf
About 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 an extensive inventory of Measured, Indicated and Inferred gold resources as well as the 1.2mtpa Three Mile Hill processing plant.
Contact:
Campbell Baird, CEO
Focus Minerals Ltd
Tel: +61-8-9215-7888
http://www.focusminerals.com.au