FFX 0.00% 20.0¢ firefinch limited

Ann: Firefinch Celebrates First Gold Pour, page-286

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    I've just reread the initial asx announcement re Morila, there is lots of information in this not included in the presentations.
    I've pasted a few notable snippets:

    It is a truism that the best place to find gold is in the shadow of the headframe and Morila has immediate upside without the need for drilling by modelling existing data; in addition, the depth and lateral extensions to this monster mine are not well understood.

    underground targets beneath Morila have yet to be fully evaluated. The best example is the Samacline zone where drilling has returned high grade results including 5 metres at 31.5 g/t gold

    Better drill intersections below the Morila pit include:
    56 metres at 4.97g/t gold
    29 metres at 6.23g/t gold
    20 metres at 4.46g/t gold
    54 metres at 2.37g/t gold including 4 metres at 13.3g/t gold
    9 metres at 8.37g/t gold
    14 metres at 3.84g/t gold
    13 metres at 3.94g/t gold

    The Koting K1 deposit.....Drill intercepts include 4 metres at 11.1 g/t gold and 6 metres at 16.5 g/t gold (refer ASX Announcement 19 November 2019).

    Processing of ore from Morila and its satellites and tailings has been straightforward with free milling ore with a significant portion of gravity recoverable gold. Historic gold recoveries from Morila ore were 91% or better.

    The Company will commence systematic exploration and drilling of high value targets on the 474km 2 Massigui Project and on the 211km 2 Morila licence to discover shallow resources that may support production.

    Only limited exploration was undertaken to test for potential extensions or repetitions while the mine was active.

    Numerous high value geochemical targets have already been identified on the 200 km 2 Morila lease, many of which have been partially drill tested. However, much of this drill testing was shallow and likely ineffective as the weathering profile is deep (30 to 50 metres).
    (the original morila lease included in the acquisition)

    The best near-term potential for re-start of mining at Morila is at the western side of the current pit. The company will investigate dewatering the pit in stages so to expose the first benches with near surface ore and access for drilling. First pass estimate of time required is 4-6 months.The pumping capacity already in place for hydraulic mining would be required to be expanded and electrical reticulation upgraded.

    Numerous high value geochemical targets have already been identified on the Morila licence, many of which have been partially drill tested. However, much of this drill testing may have been ineffective as regolith (weathering) development is deep (30 to 50 metres) and much of the drill testing was shallow RAB drilling (less than 20 metres). In addition, the main Morila deposit is flat lying and such a deposit would not have been detected by regolith drilling with only a small portion occurring near surface. If the discovery trench had not been optimally sited, the Morila deposit would not have been identified

    Company management and consultants have visited the mine and the Company has completed technical, legal and commercial due diligence and its own Mineral Resource Estimate for Morila

    The plant has been operating efficiently and effectively for 20 years, is still doing so today and the company is unaware of any issues with major items of plant or equipment. The company has identified that whilst the power station is operating today, replacement and refurbishment of some generators is required to bring the power plant back to full capacity
 
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Currently unlisted public company.

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