Continuing high-grade gold from Coolgardie

WA gold and nickel company, Focus Minerals and its Redemption Joint Venture....

  WA gold and nickel company, Focus Minerals and its Redemption Joint Venture (RJV) partner, Canadian-based Committee Bay Resources have further reinforced the potential of the high-grade Perseverance deposit at the Coolgardie Gold Project, with additional results confirming the continuity of grades and widths.Together with a series of outstanding results reported for the deposit during the past year, the new results demonstrate the substantial potential for the RJV to continue to grow the Perseverance resource, which currently measures 300,000t @ 9.4 g/t Au, for 89,600 ounces of gold.The new results include 29m @ 20.02 g/t Au, 21m @ 7.30 g/t Au, 6m @ 9.86 g/t Au, 6m @ 9.27 g/t Au and 6m @ 5.53 g/t Au.The RJV is conducting several drilling programs at Perseverance as part of a feasibility study aimed at the commencement of mining by December this year.The latest results indicate that the Perseverance mineralisation trends north at shallow levels. Further results are pending for the high-grade deposit for which the mineralisation remains open in all directions. The RJV partners said they anticipate announcing an upgraded resource, to form part of the Bankable Feasibility Study for Perseverance, early in the September Quarter 2007.Several downhole EM surveys currently being conducted on deeper holes at the periphery of the main quartz-sulphide lode at Perseverance are testing for potential additional high-sulphide zones beneath and adjacent to the existing known mineralisation.In addition, the RJV is also planning several ground EM surveys along the highly prospective Redemption Corridor, which lies north and south of Perseverance. The new EM surveys will follow up several anomalies identified from recently completed VTEM surveying.Focus Minerals’ Managing Director, Peter Williams said the latest results and the work currently underway reinforce the significant potential to further increase the high-grade resources at the centre of the Coolgardie Gold Project. “We are eagerly anticipating additional results from five infill core holes and three shallow reverse circulation exploratory holes, which have been completed as part of our ongoing activity at Perseverance,” Mr Williams said.“The Perseverance decline development work is on schedule to commence next month and this will greatly enhance exploration and development access to this important deposit,” he said.“Our additional EM survey work also highlights our confidence in identifying further potential resources for this high-grade area.”