- Oops!Something went wrong.Please try again later.
ROUYN-NORANDA, QC, Sept. 16, 2021 /CNW Telbec/ - Fokus Mining Corporation ("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased to announce that it continues to intercept wide gold-copper mineralization on Hendrick, strong gold mineralization on GP and is encouraged by initial results on Hurd. All results available since the month of May 2021 are presented in the table below.
Good gold mineralization on four more holes on the GP Zone
Three more holes show the magnitude of the gold-porphyry system on the Hendrick zone
Initial gold results in the area of the Hurd zone are encouraging
Jean Rainville, President and CEO of the Company states: "We have now completed more than 30,000 meters of diamond drilling since last November and continue to drill. We are pleased with the results that confirm that the mineralization at GP extends both laterally and at depth and that there is potential to expand the resource estimated in the previous drill campaign significantly. We are also quite impressed by the size and continuity of the Hendrick zone. As we drill towards the northeast towards the Hurd zone, our initial results are also quite encouraging".
* All measures are along hole. True widths are estimated to be 80% of the measured length.
** AuEq have been calculated at a price of Gold of 1,811$, Silver at 24.42$ and Copper at 4.29$/lb.
Four new holes on the GP zone continue to demonstrate the potential to expand the NI 43-101 resource (260,000 ounces by SRK in 2013). Holes GA-21-24, GA-21-29, GA-21-31 and GA -21-32 show that the mineralization extends both laterally and at depth. Results are still pending for three holes just northeast of the known mineralization.
The results of three more holes are now also available for the Hendrick zone and again it demonstrates the size and continuity of the gold-copper mineralization in that sector. Holes GA-20-10, GA -20-14 and GA-21-30 confirm the presence of strong mineralization that was evidenced by the previous drill campaign and results on the ongoing Fokus drilling. Eleven more holes were drilled on the Hendrick zone and all of them encountered the mineralized syenite typical of the previous holes. The delay in producing drill results is mostly a function of the difficulty in getting copper and silver assays. In this area, the results of twelve more holes are still pending.
HURD ZONE AND EXPLORATION HOLES IN THAT AREA
The Company has only received assays for two holes in that area and results are pending for seven more holes. Good gold values were encountered to date.
The Company received the results of the heliborne very-high-resolution magnetic survey was flown last May over the remainder of the property not covered last December to try to discover areas of high magnetic susceptibility which are suspected to correspond to buried syenite intrusions similar to syenite intrusion present at the Hendrick zone. The magnetic survey unveiled four circular magnetic anomalies which are potentially buried syenite bodies. One exploration hole was drilled in one of them (GA-21-40) and this hole intersected an intermediate intrusive locally mineralized in pyrite and chalcopyrite and bears some similarities with the syenite in the Hendrick zone. Only partial assay results of this hole have been received and results will be released when assays will be fully received.
The Company expects to receive the results of a study produced by the firm Innovexplo from Val-d'Or in the coming weeks on the characteristics of the mineralization in the various sectors of the western part of the Galloway property.
Some tests are also under way to find out if down-hole geophysical techniques could be applied given the presence of sulphide mineralization.
Quality Control and Assurance
The design of the Galloway project drilling programs Quality Assurance/Quality Control and interpretation of results is under the control of Fokus geological staff including qualified person employing a strict QA/QC program consistent with NI 43-101 and industry best practices. The Galloway project is supervised by Gilles Laverdière, P. Geo.
Drill core is logged and split with half-core samples packaged and delivered to AGAT Laboratories. Samples are dried and subsequently crushed to 75% passing a 2 mm mesh screen. A 250 g subsample is pulverized to a nominal 85% passing 75 microns mesh screen. The remaining crushed sample (reject) and pulverized sample (pulp) are retained for further analysis and quality control. All samples are analysed by Fire Assay with an Atomic Absorption (AA) finish using a 50 g aliquot of pulverized material. Assays exceeding 3 g/t Au are re–assayed by Fire Assay with a Gravimetric Finish. Fokus inserts 3rd party independent control reference samples and blank samples regularly in the sample stream to monitor assay performance. Fokus internal control samples represents approximately 10% of the total samples sent for assays. Fokus is planning to perform duplicate sampling at a certified secondary control laboratory.
This press release was compiled and approved by Gilles Laverdière, P. Geo. And Qualified Person under National Instrument 43-101.
Fokus Mining Corporation is a mineral resource company actively acquiring and exploring precious metal deposits located in the province of Quebec, Canada. In implementing this major undertaking within the Canadian mining industry, we are determined to unlock the secret of the Galloway gold project.
The Galloway project covers an area of 2865.54 hectares and is located just north of the Cadillac-Larder Lake deformation which extends laterally for more than 100 km. Numerous gold deposits are related to that structure and its subsidiaries. The current work focuses on a small western portion of the mineral claims where several mineral occurrences have been identified. For more information, visit our website: fokusmining.com
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the TSX Venture Exchange Policies) do not accept any responsibility for the truth or accuracy of its content.
Caution Regarding Forward-Looking Statements
Certain statements contained in this news release may constitute forward–looking information. Forward–looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward–looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward–looking information. The Company's actual results could differ materially from those anticipated in this forward–looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward–looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward–looking information should not be unduly relied upon. Any forward–looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward–looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
SOURCE Fokus Mining Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2021/16/c3879.html