ROUYN-NORANDA, QC, Jan. 18, 2024 /CNW/ - Fokus Mining Corporation ("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased to provide an exploration update on its Galloway project located in the Abitibi region of Québec.
As mentioned in previous press releases, last November's program was to include a minimum of 1,500 metres of diamond drilling with seven or eight holes. This target has been exceeded:
Five holes have been drilled on the Moriss mineralised area for a total of 903 metres (holes GA-23-75 to GA -23-79); and
Three holes have been drilled in the Fayolle mineralised area for a total of 840 metres (holes GA-23-80 to GA-23-82).
The press release of November 29, 2023, described the objectives of the drilling campaign on the Moriss zone, which followed on from an earlier drilling campaign by Fokus. However, this is the Company's first exploration effort to test the Fayolle area of Galloway located approximately one kilometre north of the Hurd area and approximately 3.5 km north-east of the GP zone. Previous companies drilled a few shallow holes on Fayolle and obtained some low-grade gold values.
Jean Rainville, CEO and President, says: "We hope to be able to increase the resource on Moriss. Furthermore, with our tests on Fayolle we are now moving out of the areas where we have been concentrating. The goal is not only to evaluate Fayolle with these drill holes but also to investigate the potential extensions of Hurd. In fact, a 417-metre-long hole should also provide information on another copper-gold target to the north-west. Core logging was completed for this program last week and we expect to receive some of the assays before the end of the month."
Jean Rainville also said: "As indicated in our press release of December 4, 2023, we expect to resume another minimum 1,500-metre diamond drilling campaign towards the end of the month. We are in the process of finalising the program, but we will certainly include at least a few holes on the recently discovered RB mineralised zone, where we have already drilled 19 holes (press release dated 6 September 2023).
Qualified Person
The scientific and technical disclosure for Fokus included in this news release have been reviewed and approved by Gilles Laverdière, P. Geo. Mr. Laverdière is geologist and qualified person under National Instrument 43-101 Standards of Disclosure of Mineral Projects ("NI 43-101") and a director of the Company.
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 related to that structure and its extensions. The current work focuses on the western portion 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) accept responsibility for the adequacy or accuracy of this release.
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.
