Focus Metals Reports 43-101 Mineral Resource Calculation
posted on
Dec 05, 2011 07:49AM
Making the Lac Knife property the highest grade graphite resource in the world
Focus Metals Reports 43-101 Mineral Resource Calculation for its Lake Knife, Quebec, Graphite Property (ccnm)
OTTAWA, ONTARIO--(Marketwire - Dec. 5, 2011) - Focus Metals Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) (the "Company") is pleased to report the results of the mineral resource estimate for its 100% owned Lake Knife Project near Fermont, Quebec.
The graphite mineral resource estimate was prepared by Edward Lyons, P.Geo. and Guy Saucier, Eng., independent Qualified Persons of Roche Ltd. ("Roche"). A Technical Report in compliance with National Instrument NI 43-101 will be filed on SEDAR within 45 days of this release. They have verified the information in this news release.
Mineral Resource Estimation
The new mineral resource estimate is based on the 105 drill holes (total 8,611 metres) drilled by Mazarin. Both the historical and modern data were used. Five zones were interpreted and modeled within the revised interpretation of the resource calculation. The block model was developed using GEMS software by Gemcom. Blocks are 5 metres long, 7 metres wide and 5 metres high. A cut-off of 5% Cgr (carbon as graphite) was used.
Category | Tonnage | Grade (%Cgr) |
Measured | 637,250 | 15.59 |
Indicated | 4,334,890 | 15.68 |
Total (M+I) | 4,972,140 | 15.67 |
Inferred | 3,000,225 | 15.58 |
Interpolation Parameters
The inverse distance squared was used to interpolate the block using 3-metres assay composites. Each zone had its search ellipse parameters to interpolate the grade. The parameters were based on the geological difference in the deposit model. A single value of 2.86 t/m3 density was used for all models. No capping value was applied to the assays.
To report the resource and interpret the zones limits, a cut off grade of 5% Cgr was used in the model.
To ensure a "reasonable prospect of economic extraction", a Whittle optimized mining scenario was performed by Roche assuming an overall pit slope of 45°, an operating cost of $42.20 US per tonne milled (including mining and milling costs), a 95% mining recovery, a 5% mining dilution and a conservative selling price of $1,600 US/tonne of concentrate. By comparing this Whittle shell to the report resource, less than 2% of the tonnage fell outside of the "Base Case" pit shell.
Classification
The classification of the resource was performed with three different passes. The following constraints were placed on each pass for the Measured, Indicated and Inferred Categories:
Twin Holes Campaign
In 2010 and 2011, in order to confirm the historical resources and the validity of the data obtained in the 1980s, eleven (11) twin drill holes were drilled. The 2010-2011 campaign was conducted under the supervision of IOS Services Géoscientifiques. A strong correlation was observed between the historical and the modern holes. The geological interpretation has been revised by Edward Lyons, P. Geo.
"This mineral resource estimate is a key milestone for Focus Metals as it lays the groundwork for a scoping study in 2012," said President and CEO, Gary Economo.
"This report validates our position that Focus Metals' Lac Knife property holds the best grade of graphite in the world," said Gary Economo. "It also establishes the regulatory benchmark for growth and development of our extraordinary property."
Mr. Economo added: "We knew of Lac Knife's potential value from the historic drilling results we inherited from its previous owners, and it formed the basis for our mine-to-market-to-technology business strategy."
Mr. Economo said an expanded, deeper and more comprehensive drilling program is planned for the spring of 2012 to update this initial resource estimate.
Mr. Tony Brisson, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.