FOKUS MINING
INTERSECTED
120.30 METERS AT 1.12
G/T AU
INCLUDED IN A BROADER SEGMENT THAT RETURNED 367.45
METERS
AT 0.72
G/T AU
ON
HENDRICK ZONE,
GALLOWAY
Rouyn-Noranda, Quebec,
Canada -- February 19, 2021 -- InvestorsHub NewsWire
-- Fokus
Mining
Corporation
("Fokus"
or the "Company")
(TSXV:
FKM,
OTCQB: FKMCF, FSE: F7E1)
is pleased to announce
that it has
intersected
519.20
meters grading 0.62
g/t Au, including sections
of
367.45
meters grading
0.72
g/t Au,
120.30 meters at 1.12 g/t Au, 74.40 meters at 1.36 g/t
Au
and
12.90 meters at
2.61 g/t
Au
in
hole GA-20-10
in
the
Hendrick sector of the Galloway project.
Hole GA-20-14,
drilled 60 m east of hole GA-20-10,
intersected over 500 m of mineralized syenite
similar to hole GA-20-10. The results are expected soon.
The Hendrick
gold zone is
characterized by the presence of disseminated and stringers of
pyrite, chalcopyrite with local molybdenite and specks of visible
gold. The mineralized zone is comprised within a magnetite and
potassic feldspar alteration envelope characteristic of Au-Cu
porphyry
deposits. The
Company therefore believes it is in the presence of
an
extended
gold system
due
to the presence of
syenitic
intrusives
favoring the link between
the various gold zones such as Hendrick, GP,
Moriss
and Hurd.
The Company also requested assays for copper and silver in holes
GA-20-10 and GA-20-14.
Assays for Ag and Cu are pending. In order to verify the various
extensions of the Hendrick zone, the management of the Company
plans to complete several new drill holes in the coming
weeks.
Jean
Rainville, CEO and President of
Fokus
commented:
"I'm very
satisfied with the results to date despite the slowness of the labs
and it corresponds to the expectations of the Company.
We
have almost completed 20% of the proposed program
and
we do not
have 50% of the assays yet.
Noteworthy, the fact that
on
Hendrick we are finding gold grades that exceed historical results
and that in nearly every hole drilled to date there is at least
background gold values showing how prospective the Golden Triangle
of Galloway is. The company now
believes that an important porphyry system exists on
the
Galloway project."
Moreover, the 3D
inversion interpretation of a very high-resolution
magnetic
heli-borne
survey recently flown over the prospective area demonstrates the
probable presence of two other syenite intrusives.
One of them is located northeast of the Hendrick gold zone and in
close proximity to the Hurd gold zone. Further drilling is planned
in this area. The other magnetic anomaly is located east of the
Hendrick zone and is interpreted as a syenite intrusive, historic
hole 99-H-30 having intersected 800 m of porphyritic syenite
mineralized with pyrite and chalcopyrite all along the hole.
Although
interpretation is not
fully completed, the company believes
that an important porphyritic
intrusions system
and
related mineralization exists on the
property. Current drilling will
attempt to prove this hypothesis while making the link between
the various gold zones.
The Renault Bay
syenite which is a part of that system had been identified by the
Quebec government geologists in a special study on Au-Cu porphyry
deposits (EP 2006-03) as a favorable exploration target for those
types of deposits. More information on the magnetic
survey
interpretation
will be
provided shortly
by
management. Maps will soon
be posted
on
the Company's
website.
A total
of 25 holes (see Figure 1) were completed to date and two holes are
in progress totalling 9,708 meters drilled on
the Galloway project since the beginning of the 2020-2021 drill
campaign. On the
Moriss
zone,
most of the holes have intersected the marker intermediate dyke and
the Moriss
shear
zone on its footwall. The intersections carry variable
mineralization and results to date may indicate that the gold
distribution in the Moriss
zone may
not be homogenous resulting in a nugget effect that was already
experienced in some historical holes. Drilling also show that
the marker dyke is present at depth (assays pending) and absent to
the east, indicating that the Moriss
zone is
closed to the east. Complete assays were
received for only ten holes and partial results for two
holes.
Significant gold intercepts are presented in Table 1.
Drill
hole information are presented in Table 2.
Figure 1.
Table 1. Significant
intercepts
Table 2. Drill hole
information
Hole
|
Interval
(m)
|
Au
(g/t)
|
Zone
|
From
|
To
|
Length
|
GA-20-01
|
103.00
|
106.00
|
3.00
|
2.57
|
Moriss
|
including
|
104.50
|
106.00
|
1.50
|
3.88
|
GA-20-02
|
|
|
|
NSV
|
Moriss
|
GA-20-03
|
95.50
|
103.00
|
7.50
|
2.40
|
Moriss
|
including
|
95.50
|
98.50
|
3.00
|
4.92
|
GA-20-04
|
289.00
|
290.50
|
1.50
|
8.32
|
Moriss
|
GA-20-05
|
|
|
|
NSV
|
Moriss
|
GA-20-06
|
101.75
|
103.50
|
1.75
|
1.71
|
Moriss
|
250.00
|
253.00
|
3.00
|
0.80
|
including
|
250.00
|
251.50
|
1.50
|
1.29
|
GA-20-07
|
311.50
|
314.40
|
2.90
|
0.92
|
Moriss
|
389.30
|
392.30
|
3.00
|
2.22
|
GA-20-08
|
324.50
|
326.00
|
1.50
|
1.40
|
Moriss
|
GA-20-09
|
90.00
|
90.80
|
0.80
|
1.83
|
Moriss
|
GA-20-10
|
476.80
|
844.25
|
367.45
|
0.72
|
Hendrick
|
including
|
677.30
|
797.60
|
120.30
|
1.12
|
including
|
706.70
|
781.10
|
74.40
|
1.36
|
including
|
733.40
|
746.30
|
12.90
|
2.61
|
GA-20-11
|
156.50
|
158.00
|
1.50
|
1.42
|
Moriss
|
GA-20-12
|
PENDING
|
Moriss
|
GA-20-13
|
PENDING
|
Moriss
|
GA-20-14
|
PENDING
|
Hendrick
|
GA-20-15
|
PENDING
|
Moriss
|
GA-21-16
|
PENDING
|
Moriss
|
GA-21-17
|
PENDING
|
Moriss
|
GA-21-18
|
PENDING
|
Moriss
|
GA-21-19
|
PENDING
|
Moriss
|
GA-21-20
|
PENDING
|
Moriss
|
GA-21-21
|
45.00
|
316.50
|
|
PENDING
|
Moriss-Ext
|
316.50
|
317.75
|
1.25
|
0.48
|
320.65
|
324.00
|
3.35
|
0.29
|
324.00
|
389.50
|
|
PENDING
|
GA-21-22
|
PENDING
|
GP
|
GA-21-23
|
PENDING
|
Moriss-Ext
|
GA-21-24
|
PENDING
|
GP
|
GA-21-25
|
PENDING
|
Moriss-Ext
|
GA-21-26
|
BEING DRILLED
|
GP
|
GA-21-27
|
BEING DRILLED
|
Moriss-Ext
|
|
|
|
|
|
|
* Note that drill results are presented
uncapped
and lengths represent core lengths. True width is estimated to be
greater than 75% in the
Moriss
zone.
True widths at the Hendrick Zone are currently unknown.
Hole_ID
|
UTMx_East
|
UTMy_North
|
UTM_AZM
|
DIP
|
Total_Depth
(m)
|
GA-20-01
|
617180
|
5339059
|
175
|
-48
|
252
|
GA-20-02
|
617161
|
5339070
|
180
|
-45
|
252
|
GA-20-03
|
617136
|
5339065
|
180
|
-45
|
252
|
GA-20-04
|
617202
|
5339143
|
180
|
-70
|
351
|
GA-20-05
|
617232
|
5339186
|
180
|
-72
|
411
|
GA-20-06
|
617233
|
5339049
|
180
|
-45
|
258
|
GA-20-07
|
617276
|
5339071
|
180
|
-72
|
405
|
GA-20-08
|
617400
|
5339110
|
180
|
-65
|
402
|
GA-20-09
|
617112
|
5339066
|
182
|
-45
|
252
|
GA-20-10
|
617320
|
5338614
|
178
|
-78
|
996
|
GA-20-11
|
617089
|
5339063
|
177
|
-45
|
252
|
GA-20-12
|
617071
|
5339105
|
182
|
-45
|
252
|
GA-20-13
|
617083
|
5339101
|
178
|
-45
|
252
|
GA-20-14
|
617382
|
5338583
|
178
|
-78
|
1002
|
GA-20-15
|
617136
|
5339101
|
178
|
-45
|
252
|
GA-21-16
|
617090
|
5339142
|
178
|
-45
|
264
|
GA-21-17
|
617102
|
5339174
|
178
|
-45
|
297
|
GA-21-18
|
617126
|
5339154
|
178
|
-45
|
303
|
GA-21-19
|
617162
|
5339188
|
178
|
-50
|
300
|
GA-21-20
|
617159
|
5339163
|
178
|
-45
|
300
|
GA-21-21
|
617586
|
5339391
|
180
|
-45
|
396
|
GA-21-22
|
617653
|
5339037
|
175
|
-45
|
207
|
GA-21-23
|
617498
|
5339347
|
180
|
-75
|
450
|
GA-21-24
|
617838
|
5339155
|
178
|
-45
|
474
|
GA-21-25
|
617403
|
5339331
|
180
|
-75
|
432
|
GA-21-26
|
617817
|
5339183
|
177
|
-45
|
being drilled
|
GA-21-27
|
617298
|
5339233
|
180
|
-75
|
being drilled
|
Fokus
also
wishes to inform that it will pay to the
Vendor of the Galloway project the third cash payment of
$250,000 next week. Only
$250,000 cash payment will
be due in three months in order to complete the acquisition of 100%
interest in the mineral claims of the
Galloway
project
(see details of the
transaction in the
press
release dated July 16th,
2020).
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 250g
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 50g
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.
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:
fokus.mining.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.
For further
information:
Jean Rainville,
President & Chief Executive Officer
Tel.: (514) 918-3125,
Fax: (819) 762-0097
Email: jrainville@fokusmining.com
Related
Links
http://fokusmining.com/
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.
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