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).
Qualified Person
This press release was approved by Gilles Laverdière, P. Geo,
Director 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