WA-based gold explorer Focus Minerals has produced further encouraging exploration results at its 235,000-ounce Redemption joint venture Dreadnought project with Canadian company Committee Bay Resources.
WA-based gold explorer Focus Minerals has produced further encouraging exploration results at its 235,000-ounce Redemption joint venture Dreadnought project with Canadian company Committee Bay Resources.
Results of drilling in the final three holes confirmed the presence of broad zones of near-surface gold mineralization including a best result of 82m at 3.53g/t Au.
Other highlights from these holes included wide, near-surface intersections of 22.0m at 1.57 g/t Au in 05DND004 and 77m at 0.99 g/t Au in 05DND003.
This follows encouraging results from the earlier diamond core holes at Dreadnought announced last month.
Focus Minerals' managing director Peter Williams said the latest diamond core results continued to build a positive picture of the Dreadnought mineralisation, adding further weight to the recently completed open pit scoping study which indicated that Dreadnought was likely to contribute a significant proportion of the material required to justify re-commissioning the Three Mile Hill treatment facility at Coolgardie.
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DRILLING CONFIRMS BROAD GOLD ZONES AT DREADNOUGHT FOR REDEMPTION JV
BEST NEAR-SURFACE INTERSECTION OF 82m @ 3.53g/t Au
WA-based gold company Focus Minerals Ltd (ASX: FML) has received further encouraging results from in-fill diamond core drilling at the 235,000-ounce Dreadnought Project, part of its Redemption Joint Venture with Canadian-based Committee Bay Resources Ltd, with the final three holes confirming the presence of broad zones of near-surface gold mineralization including a best result of 82m at 3.53g/t Au.
Other highlights from these holes included wide, near-surface intersections of 22.0m at 1.57 g/t Au in 05DND004 and 77m at 0.99 g/t Au in 05DND003. This follows encouraging results from the earlier diamond core holes at Dreadnought, as announced last month, which included 10.9m at 6.48g/t gold from 55.1m, 13.9m @ 5.56g/t gold from 55.1m, 2m at 6.5g/t gold from 88 m and 1.9m at 8.28g/t gold from 75m.
Drill hole 05DND005 tested the northern end of the south-east zone at Dreadnought, confirming that it remains open along strike to the north. Hole 05DND003 tested the south-east zone diorite sheets 200m west of 05DND005 where previous RC drilling by the Redemption Joint Venture returned a result of 5.0m at 3.77 g/t Au in 05DNC010. Hole 05DND004 was drilled into the north-west zone to provide baseline geological and geotechnical information and confirm mineralisation.
The Dreadnought Project hosts a JORC compliant indicated resource of 970,000 tonnes at 2.5 g/t Au for 78,000 ounces and an additional inferred resource of 2,570,000 tonnes at 1.9 g/t Au for 157,000 ounces of contained gold. It is one of the key deposits within the Redemption Joint Venture, having been the focus of the Joint Venture's initial drilling activities since late last year.
Focus Minerals' Managing Director, Mr Peter Williams, said the latest diamond core results continued to build a positive picture of the Dreadnought mineralization, adding further weight to the recently completed open pit Scoping Study which indicated that Dreadnought was likely to contribute a significant proportion of the material required to justify re-commissioning the Three Mile Hill treatment facility at Coolgardie.
"The latest results confirm that Dreadnought has the potential to host a viable near-surface resource which we are confident will form a key component of the future mining operations at Coolgardie," Mr Williams commented. "In addition, we are encouraged that, based on the results of drill hole 05DND005, there are strong indications that the resource can be substantially extended to the north. The joint venture is now working towards commencing a full Feasibility Study on the development of the Dreadnought project."
Mineralization at Dreadnought occurs within two zones, the north-west and south-east, of albitized, stockworked and sulphidized diorite hosted within amphibolite grade basalts. The north-west zone is hosted within a moderate west dipping diorite body that is truncated to the north against the east-west trending Dreadnought cross-fault, and terminates against the Redemption Fault to the south.
The south-east zone is hosted within very shallow north-dipping diorite sheets which outcrop to the south. This zone remains untested at depth to the north for at least 200m to the projected intersection of the zone with the Dreadnought cross-fault.
The Redemption Joint Venture has recently completed an open pit scoping study over the entire resource including both indicated and inferred material. This study suggests that the Dreadnought project could contribute a significant portion of the material required to justify re-commissioning the Three Mile Hill Mill.
