Focus Minerals (ASX:FML) hopes to bring the Bonnie Vale Underground Project online in 2024 consistent with the current life of mine plan, following the release of Friday’s (10 November 2023) updated ore reserve.
On Friday the Western Australian gold company released the results of the 2023 ore reserve update for the Bonnie Vale Underground project, a part of Coolgardie Gold Operations. T
The Coolgardie project includes 121km-square of ‘’highly prospective tenements on the outskirts of the Coolgardie township in Western Australia’s Eastern Goldfields.
Commenting on the 2023 ore reserve for Bonnie Vale, Focus Minerals Executive Chairman, Wanghong Yang says the update demonstrates robust economics for the Bonnie Vale Underground Project, delivering low-cost ounces for its Coolgardie Gold Operations.
“The result reflects the good work of our team this year, in optimising the Resource Model with further drilling and delivering a high confidence mine plan for commencement of underground mining. Following final evaluation and project approvals, Focus hopes to bring the mine online in 2024 consistent with our current life of mine plan.”
This 2023 Bonnie Vale ore reserve is derived from the updated Mineral Resource estimate published in September 2023, using a gold price of A$2,500 per ounce and a cut-off grade of 1.87g/t for stope design.
Write to Adam Orlando at Mining.com.au
Images: Focus Minerals
