Name of the Project
Coolgardie gold project.

Location
Adjacent to the town of Coolgardie, 35 km west of Kalgoorlie, in Australia.

Project Owner/s
Focus Minerals.

Project Description
A new life-of-mine (LoM) plan has been developed, based on ore reserves of 7.48-million tonnes grading at 1.81 g/t for 436 532 contained ounces using a gold price of A$2 200/oz.

The project proposes the scheduled mining of the Greenfields and CNX Brilliant South openpits, and the Bonnie Vale underground project.

The project will produce 402 000 oz of gold over a seven-year mine life.

The new LoM plan results in the resumption of mining at the Greenfields openpit in the first half of 2023. The 1.8-million tonnes of ore mined at the operation will supply the refurbished Three Mile Hill (TMH) plant for about 18 months and produce an estimated 65 000 oz of gold.

The CNX openpit will follow the Greenfields project, with a 12-month mining schedule providing 1.2-million tonnes of mill feed and producing 44 000 oz of gold. Openpit mining will be concluded with the Brilliant South deposit, where about 3.5-million tonnes of ore will be mined over 40 months, consequently providing about three years of mill feed and producing an estimated 149 000 oz of gold.

A new underground mine at Bonnie Vale will supplement the openpit ore with high-grade feed over the LoM plan. Underground mining will start about 12 months after the commissioning of the TMH plant.

With a current LoM of three years, Bonnie Vale will produce 926 000 t containing 145 000 oz of gold.

Net Present Value/Internal Rate of Return
At a gold price of A$2 200/oz, the project will have a net present value, at a 7.5% discount rate, of A$152-million.

Potential Job Creation
Not stated.

Capital Expenditure
Prestart capital is estimated at $51.8-million.

Planned Start/End Date
Not stated.

Latest Developments
Focus Minerals has resumed openpit mining at its Coolgardie operations and has started commissioning of the 1.2-million-tonne-a-year TMH processing facility.

First gold from Coolgardie is targeted for later this quarter.

The Greenfields openpit started mining in early July.

Key Contracts, Suppliers and Consultants
Ozland Mining Services (openpit mining operator).

Contact Details for Project Information
Focus Minerals, tel +61 8 9215 7888 or email info@focusminerals.com.au.