TSX.V: FKM
OTCQB: FKMCF Frankfurt: F7E1
ROUYN-NORANDA, QC, Oct. 6, 2022
/CNW Telbec/ - Fokus Mining Corporation, ("Fokus" or
the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is
pleased to announce that the metallurgical tests required to
complete its independent NI43-101 resource estimate are now
underway and will be completed by the end of October. The selection
and preparation of the samples and the test protocols were
conducted independently (see press release dated August 30, 2022).
Drill core samples were provided from the Hendrick and GP zones
to prepare composites. Test work includes mineralogy, head samples,
assays, grindability, gravity recovery tests and cyanidation tests.
Composites and residues from cyanide tests will be stored and
frozen to avoid degradation in the event that additional testing is
later planned. It should also be noted that sufficient samples have
been prepared to duplicate all ongoing tests if necessary.
"We are very happy to complete these test sequences to finalize
the NI 43-101 Compliant Resource Estimate. We think that the
results to come from this latter material requirement will be
consistent with our own estimations and that they will provide us
with a high degree of confidence in our models." said Jean Rainville, President and CEO of the
Company.
In other news, the Company is pleased to announce the results of
its Annual Meeting of Shareholders (AMS) held on August 31, 2022, in Rouyn-Noranda, Quebec. At the AMS, Fokus
shareholders re-elected Jean
Rainville, Sylvain Champagne,
Gilles Laverdière, Marc-André Lavoie, Ciro
Cucciniello and Steve
Duchesne as directors of Fokus. Following the Shareholders
Meeting, Fokus Board of Directors re-appointed Jean Rainville as President and Chief Executive
Officer and Sylvain Champagne as
Corporate Secretary and Chief Financial Officer of the Company.
At the AMS, Fokus shareholders also approved resolutions (i)
re-appointing Raymond Chabot Grant Thornton LLP, Chartered
Professional Accountants, as the auditor of Fokus, and (ii)
ratifying, approving, and confirming Fokus' stock option plan.
This press release was approved by Gilles Laverdière, P. Geo and
Qualified Person under National Instrument 43-101.
About Fokus
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.
Related Links
http://fokusmining.com/
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