11:29 AEST July 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 report excellent results from initial surface reconnaissance sampling at its recently acquired Lake Cowan Gold-Copper Project (Treasure Island), located 50km south-east of Kambalda in WA's Eastern Goldfields.
The Company has completed follow-up sampling from the island on Lake Cowan within the 95km2 Treasure Island tenement which produced grades of up to 49g/t gold and 1% plus copper in historic sampling.
Assay results have now been received from sixteen rock chip and grab samples (see figure 2) which returned outstanding copper grades including 8.53%, 2.87% and 1.51% Cu as well as anomalous gold, silver and nickel results. A summary of the assay results is shown in Table 1.
Focus has commissioned a detailed airborne geophysical survey to be carried out over the Treasure Island tenement. This will assist with exploration targeting prior to a drilling program scheduled to commence in later part of 2010.
The structural setting, local geology and identified gold and copper mineralisation at Lake Cowan is similar to that found at the historic Paris mine, located 8km to the north (see Figure 1). The Paris mine produced approximately 22,000 ounces of gold at an average grade of 11.1g/t.
Treasure Island sits on the southern extension of the regionally extensive Boulder- Lefroy Fault, which hosts numerous high-grade gold and nickel deposits from Kambalda to Kalgoorlie's Golden Mile.
New Contract Project Manager Appointed
Focus has recruited accomplished gold and nickel exploration Geologist Mr Dean Goodwin, who was until recently Managing Director of
Barra Resources Limited (ASX: BAR) (PINK: BRCSF), as Contract Project Manager to oversee the ongoing exploration and development of the Treasure Island Project. Mr Goodwin will also have responsibility for reviewing and progressing exploration at Focus' Nepean Nickel Project Prior to his role at Barra Resources, Mr Goodwin worked for several years as an independent consultant through his own consultancy business. Prior to his consultancy work he was Senior Exploration Geologist with LionOre Australia at the Bounty Gold Mine, where he was responsible for the discovery of several auxiliary gold deposits.
He was Senior Exploration Geologist with
Resolute Limited (ASX: RSG) (PINK: RMGGF), where he worked at the Chalice, Higginsville, Bullabulling and Bulong Projects, and Exploration Geologist with Western Mining Corporation Ltd. At WMC, Mr Goodwin was directly involved in the discovery of the Intrepid, Redoubtable and Santa Anna gold deposits under Lake Lefroy.
Focus Chief Executive Officer Campbell Baird said he was delighted to have secured someone of Mr Goodwin's experience and capability to spearhead exploration at Treasure Island.
'Dean's enthusiasm combined with his gold and nickel exploration expertise has significantly contributed to recent developments with the Treasure Island Project,' Mr Baird said.
'We look forward to his contribution as we step up exploration activities in the next six weeks leading to our maiden drilling program later in 2010.'
For the complete Focus announcement including figures and tables, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/63324-ASX-FML-497800.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
Chief Executive Officer
Focus Minerals Ltd
Tel: +61-8-9215-7888
www.focusminerals.com.au
