EXPLORATION drilling at the Burtville mining centre in Laverton has delivered a 140 per cent increase in the mineral resource, Focus Minerals has announced.
The Australian gold producer and explorer was able to increase the mineral resource estimate of the area to 5.7 million tonnes grading 1.3 grams per tonne for 235,000oz of contained gold.
Chief executive Campbell Baird said in a statement that the drilling highlighted the enormous potential of the site.
“This is a significant increase in the mineral resource from a drilling program that has only focussed on one small portion of the Burtville system,” Mr Baird said.
“Very little drilling has been previously undertaken within a 2km by 1km area around the old pit, where old workings and structural trends highlight significant exploration upside.”
Since taking control of the Laverton mine in October 2011, Focus has made the project a priority.
Burtville was originally a large, low strip ratio open pit operation mined in the 1900s by Sons and Gwalia that produced 64,000oz grading 1.4g/t.
Focus has drilled 70m below the pit, with testing indicating a large gold resource across a 2km by 1km footprint.
The announcement provides more good news for shareholders after Focus had previously reported record gold production for the three months to June 2012.
Focus sold 48,222oz of gold generating $77 million for the quarter.
The company operates four mines across the Coolgardie gold belt and Laverton districts in WA, and has become well known for reviving old mine sites.