FOKUS INTERSECTS 229.5 METRES GRADING 1.03 G/T AU, INCLUDING 130 METRES GRADING 1.41 G/T AU IN THE RB ZONE OF THE GALLOWAY PROJECT
ROUYN-NORANDA, QC, Jan. 31, 2023 /CNW Telbec/ - Fokus Mining Corporation ("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) announces that hole GA-22-63 intersected 1.03 g/t Au over a hole length of 229.5 metres including a 130.50 metre zone grading 1.41 g/t Au, which also included a 43.5 metre zone grading 2.04 g/t Au.
This gold-bearing section, traced from 117 to 346.5 metres along the hole, is located in an intermediate hematite- and sericite-rich and sometimes porphyritic intrusive. Very fine pyritization forms the bulk of the mineralization.
Three other holes drilled in the same area also intersected several significant gold zones in the same geological context. GA-22-60 revealed a 24-metre zone grading 1.37 g/t Au followed by a second gold zone of 31.50 metres grading 1.31 g/t Au while hole GA-22-61 graded 1.25 g/t Au over a width of 13.5 metres. Finally, GA-22-62 returned 40.50 metres grading 1.15 g/t Au. It should be noted that these holes also intersected several other small significant gold zones throughout the drilling.
The following table presents the main results:
Hole From (m) To (m) Width (m) Grade g/t Au
GA-22-60 64.50 88.50 24.00 1.37
Including 82.50 88.50 6.00 2.06
And 120.00 151.50 31.50 1.31
Including 145.50 150.00 4.50 4.83
And 193.50 198.00 4.50 1.34
GA-22-61 126.00 133.50 7.50 1.05
And 139.50 142.50 3.00 1.20
And 150.00 163.50 13.50 1.25
GA-22-62 184.50 225.00 40.50 1.15
Including 217.50 225.00 7.50 2.36
GA-22-63 117.00 346.50 229.50 1.03
Including 183.00 313.50 130.50 1.41
Including 190.50 234.00 43.50 2.04
Including 222.00 234.00 12.00 4.39
Including 309.00 313.50 4.50 11.91
Including 337.50 346.50 9.00 1.02
The main objective of this 4-hole, 1,150 metre program, completed in December 2022, was to assess the continuity at depth of the RB Zone. The results obtained from the entire program demonstrate this possibility.
A second drilling program of approximately 1,200 metres was started around January 8 and will be completed in the next few days on the same showing. Also consisting of four holes, this one is designed to test the possible extension of the RB zone to the east as well as its further extension at depth.
"We are very pleased with these results, which suggest that the RB zone may extend to the surface. Although further drilling is required to confirm this hypothesis, this possibility is very promising. This would be even more interesting as it would open up other prospects for the GP Zone adjacent to the RB Zone," said Jean Rainville, President and CEO.
The RB zone was outlined in 2021 by drill holes GA-21-28, GA-21-45, GA-21-46 and GA-21-49 (see press release of January 20, 2022).
This press release was approved by Gilles Laverdière, P. Geo, Director 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 2,865.54 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution regarding forward-looking statements
Certain statements contained in this press release may constitute forward-looking information or statements. Forward-looking information is often, but not always, identified using words such as "anticipate", "plan", "estimate", "expect", "may", "will", "will have", "should", and other 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 due to regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes in the Company's strategic growth plans and other factors, many of which are beyond the Company's control. 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, accordingly, such forward-looking information should not be relied upon as such. All forward-looking information contained in this press 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/January2023/31/c7414.html