Expansion of Ore Reserve at Bonnie Vale
Focus Minerals has announced a significant increase in the ore reserve at the Bonnie Vale underground project, part of its Coolgardie Gold Operations. The company, which resumed mining in August, has reported a 17% increase in Bonnie Vale’s ore reserve, now standing at 932,000 tonnes with a gold content of 5.94 grams per tonne, amounting to 177,920 ounces.
Mining Plans and Projected Output
Set to begin underground mining in the latter half of next year, Focus Minerals anticipates a mine life of four years for Bonnie Vale. The resources remain open at depth and along strike, indicating potential for further exploration and extraction. The estimated all-in-sustaining cost for the project is $1374 per ounce.
Executive Chairman’s Remarks
Wanghong Yang, Executive Chairman of Focus Minerals, highlighted the company’s efforts in optimizing the resource model through additional drilling, resulting in a robust mine plan. With final evaluations and project approvals underway, Focus Minerals aims to commence operations at Bonnie Vale in 2024, aligning with its current life-of-mine plan.
Comprehensive Mining Strategy
In its pursuit of an approximate 400,000 ounces gold output over seven years, Focus Minerals plans to conduct mining operations across several sites, including the Greenfields, CNX, and Brilliant South open pits, alongside the Bonnie Vale underground project.
Recent Production Figures
The company’s September quarterly report revealed that low-grade ore stockpiles were processed during the quarter, yielding a production of 3294 ounces of gold from 129,094 tonnes milled. The gold recovery rate stood at 87.2%, with 2384 ounces of gold poured and shipped.
Focus Minerals has also completed the 100-room Varischetti Village in Coolgardie, which now accommodates the fly-in, fly-out component of its workforce, supporting the company’s expanding mining operations.
The expansion of the Bonnie Vale ore reserve and the strategic approach to mining across various sites underscore Focus Minerals’ commitment to augmenting its gold production capabilities. The company’s efforts to bolster its resource base and streamline operations mark a significant step in its growth trajectory in the gold mining sector.
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