Focus Minerals lifts CNX resource at Coolgardie Gold Project by 30% to 159,000 ounces
Following June 2021 quarter drilling programs there has been a 66% conversion of the December 2020 resource to the indicated status. CNX deposit is immediately northwest along strike to the Three Mile Hill open-cut mine.
Focus Minerals Ltd (ASX:FML) has released a mineral resource upgrade for CNX deposit of the Coolgardie Gold Project in WA with the open pit resource increasing 30% to 159,000 ounces.
The increase was achieved on the back of successful drilling campaigns, which also highlighted that this shallow gold deposit remains open at depth and along strike.
Importantly, there has been a 66% conversion of the December 2020 CNX resource to the indicated status following June 2021 quarter drilling programs.
New figures show Australia is challenging China for the title of the world's biggest gold producer, but experts say it is too early to tell if Australia will take over top spot.