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TSX.V: FKM OTCQB: FKMCF Frankfurt: F7E1
ROUYN-NORANDA, QC, Nov. 5, 2021 /CNW Telbec/ - Fokus Mining Corporation ("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased to announce the beginning of approximately 1,500 meters of exploration drilling to test a large magnetic anomaly detected during the last High-Resolution airborne magnetic survey.
Following the results of this survey conducted by Novatem Inc., a large magnetic anomaly offering some similarity to the magnetic anomaly associated with the Hendrick Zone, which is located approximately 1 km to the west, has been identified under the Cobalt sediments. The planned drilling of approximately 1,500 meters is intended to test for the presence of a mineralized and altered syenite in this area. This could provide a significant lateral extension to the Hendrick Zone.
Jean Rainville, President and CEO of Fokus states: "The primary control of gold mineralization in the Hendrick Zone appears to be associated with a mineralized and altered syenite intrusive. We believe that this new anomaly may be associated with another intrusive with the same characteristics and that may host gold-copper mineralization, similar to the one found at Hendrick. We are still waiting for results from approximately 20 holes, including a dozen from the Hendrick Zone. All of the holes drilled on Hendrick have intersected the geology and mineralization we are looking for. Despite the assay results delays, we remain very confident and positive about the value and gold and copper potential of this project".
At this time, the Company is focusing its energies on the validation and 3D interpretation of the geological and drilling data as well as on other work required to complete an initial NI 43-101 compliant resource estimate associated with the Moriss, GP and Hendrick zones. The Company expects to receive the conclusions of this report during the second quarter of 2022. To date, Fokus has completed more than 30,000 meters of its ongoing drilling program.
This press release was 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 Québec, 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.
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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: http://www.newswire.ca/en/releases/archive/November2021/05/c4585.html