TSX.V: FKM
OTCQB: FKMCF
FRANKFURT:
F7E1
ROUYN-NORANDA, QC, Feb. 7, 2024
/CNW/ - Fokus Mining Corporation ("Fokus" or the
"Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased
to announce that it intersected gold grading 51.13 g/t Au over 5
metres on the Moriss showing, located in the western part of the
Galloway project.
Highlights:
- Discovery of a new high-grade zone north of the Moriss
Zone
- GA-23-76 intersects 51.13 g/t Au over 5 m, including a 1.5-m section grading 159.16 g/t
Au
- GA-23-77 intersects 18.41 g/t Au over 3 m, including 30.96 g/t Au over 1.5 m.
- Fokus discovers a new gold zone north of the Hurd Zone.
Last December, the Company drilled five new holes in the Moriss
area to evaluate the direction of the gold-bearing veins. At
present, it is not possible to determine with certainty the
direction of the veins in this area; however, initial
interpretations following these results suggest the presence of
gold-bearing structures intersecting the Moriss zone
perpendicularly.
Of the five holes drilled in a westerly direction, four
intersected significant gold values in this sector (see table
below).
Table 1 – Assay results
Hole
|
From (m)
|
To (m)
|
Length1
(m)
|
Au2
(g/t)
|
Zone
|
GA-23-75
|
55.5
|
57.0
|
1.50
|
4.46
|
New
|
GA-23-76
|
108.0
|
111.0
|
3.00
|
1.94
|
Porphyry
|
|
134.5
|
139.5
|
5.00
|
51.13
|
Moriss
|
Incl.
|
134.5
|
135.0
|
0.50
|
1.25
|
|
And
|
135.0
|
136.5
|
1.50
|
6.9
|
|
And
|
136.5
|
138.0
|
1.50
|
159.16
|
|
And
|
138.0
|
138.5
|
0.50
|
5.11
|
|
And
|
138.5
|
139.5
|
1.00
|
3.36
|
|
GA-23-77
|
51.0
|
54.0
|
3.00
|
18.41
|
New
|
Incl.
|
151.5
|
156.0
|
4.50
|
3.37
|
Moriss
|
GA-23-78
|
No significant
values
|
GA-23-79
|
95.5
|
98.5
|
3.00
|
0.99
|
New
|
GA-23-80
|
Pending
results
|
GA-23-81
|
Pending
results
|
GA-23-82
|
Pending
results
|
1. Actual widths of
intersections are not determined.
|
2. Interval analysis
results are provided uncapped, with higher grade sub-intervals
highlighted.
|
Table 2 – Drilling technical parameters
Hole
|
UTM East
|
UTN North
|
Azimuth
|
Dip
|
Length (m)
|
Zone
|
GA-23-75
|
617188
|
5339105
|
270
|
-45
|
174
|
Moriss
|
GA-23-76
|
617179
|
5339042
|
270
|
-45
|
180
|
Moriss
|
GA-23-77
|
617174
|
5339059
|
270
|
-60
|
201
|
Moriss
|
GA-23-78
|
617092
|
5339070
|
270
|
-45
|
150
|
Moriss
|
GA-23-79
|
617075
|
5339060
|
270
|
-45
|
201
|
Moriss
|
GA-23-80
|
618265
|
5339963
|
300
|
-45
|
150
|
Fayolle
|
GA-23-81
|
618330
|
5340285
|
150
|
-45
|
272
|
Fayolle
|
GA-23-82
|
620165
|
5340610
|
150
|
-60
|
417
|
*
|
*In direction of
Hurd Zone
|
Since Fokus' winter 2020-2021 campaign on the Moriss area, there
have been a number of unanswered questions regarding the direction
of various mineralized zones intersected in this part of the
Galloway project. Following an
analysis of the data, the Company designed a drilling program to
assess the possible presence of a north-south trending gold system
intersecting the Moriss shear zone. Based on the results obtained,
this appears to be the case.
Jean Rainville, the Company's
President and CEO, explains: "We now believe that gold is present
not only in association with the main east-west shear of the Moriss
Zone, but that it could also be present with other structures
intersecting it in a significant gold-bearing environment. However,
further work is required to fully assess the gold potential of
Moriss."
Hurd-Fayolle Zone
The Company also announces that it has intersected several
anomalous gold values by drilling in the Fayolle showing area. This
area, located some 400 metres north of Hurd, has been little
prospected in the past and is associated with significant magnetic
anomalies. The two holes were drilled to test their gold
potential.
"It is encouraging to have traced by drilling a new potential
gold-bearing area associated with significant magnetic anomalies.
In order to better define the true grades and thicknesses of the
gold zones intersected by these two drill holes, we have asked our
consulting geologist to have nearly 300 additional samples
analyzed. We should have the results in the next few weeks," adds
Mr. Rainville.
Management is currently preparing a new drilling campaign, which
should begin in the next few weeks. Details will be released when
all the results of the last campaign are in, but it's likely that
the Moriss zone will be the focus of this new program.
Qualified Person
The scientific and technical information of Fokus included in
this press release has been reviewed and approved by Gilles
Laverdière, P. Geo. Mr. Laverdière is a director of Fokus and a
qualified person under National Instrument 43-101 - Standards of
Disclosure for Mineral Properties ("NI 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
undertaking and implementing this major project 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 associated with this structure and
its subsidiaries. Current work is focused on the western part of
the mineral claims, where several mineral occurrences have been
identified. For more information, visit our website:
www.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 denies 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