Rouyn-Noranda, Quebec, Canada, April 12, 2022. Fokus Mining Corporation (“Fokus” or the “Company”) (TSXV: FKM, OTCQB: FKMCF, FSE: F7E1) announces the discovery of a new gold zone located at about 700 metres east of the GP-RB showings and about 400 metres south of the Hurd showing. Hole GA-21-59, over 1,500 metres long, intersected several gold intersections from 190 to 1,260 metres along the hole.
This drilling was done to test a magnetic signature similar to the Hendrick zone. The results seem to demonstrate that the environment of this hole could contain some auriferous horizons near the surface containing several significant gold grades. Thus, a grade of 7.01 g/t Au over 3 metres was intersected between 192 and 195 metres while a grade of 4.51 g/t Au over 1.5 m was detected at 480 vertical metres.
A grade of 11.45 g/t Au over 1.5 m was also intersected at a depth of 1,252.5 m. This high grade is included in a zone of 136.5 m at a grade of 0.83 AuEq including 1.43 AuEq over 7.5 m and 2.94 AuEq over 6 m (see table below).
This new discovery is in addition to the discovery of the RB zone in 2021, which is in the eastern extension of the GP zone.
The Galloway Project, while offering the potential for a low-grade, high-tonnage gold deposit in a porphyry-copper type system (Hendrick – GP – RB), also offers the potential for richer gold zones such as the Moriss located west of the GP zone.
The Company recognizes the importance of finding other higher grade gold zones in an environment close to the low-grade zones to optimize the overall grade. Also, during 2022, the
drilling program will aim, in addition to continuing the definition of the Hendrick zone, to test other gold zones such as Moriss. Following a new compilation of historical data, the Company has thus identified several showings with such potential near surface and hopes to confirm the gold potential of these new targets, by drillings. The Renault Bay (12.44 g/t Au over 1.63 m), Hurd (2.68 g/t Au over 9 m), Pond Zone (7 g/t Au over 3 m), Moriss (11.48 g/t Au over 5.35 m) and Soaker Hill (8.57 g/t Au over 4.87 m) will therefore be drilled as soon as possible. Other potential targets have also been identified based on their favorable geological and structural environment associated with high and low intensity magnetic anomalies (see map).
According to current drilling results, the Hendrick zone, despite less accessibility due to a sedimentary cover (Cobalt Sediment) varying from a few tens of metres to several hundred metres depending on the location, seems to offer significant resource development potential. The Company still wishes to complete a first 43-101 evaluation of the resource with InnovExplo in 2022. Additional drilling as well as metallurgical and mineralogical tests will be necessary to complete this first evaluation.
The following tables summarize the bests results of the 2009-2012 and 2020-2021 drill campaigns on the Galloway project.
This press release was approved by Gilles Laverdière, P.Geo, Director and Qualified Person under National Instrument 43-101.
About Fokus Mining
Fokus Mining Corporation is a mineral resource company actively acquiring and exploring precious metal deposits located in the province of Québec, Canada. In implementing this major undertaking within the Canadian mining industry, we are determined to unlock the secret of the Galloway gold project.
For further information:Jean Rainville, President & Chief Executive Officer
Tel.: (514) 918-3125, Fax: (819) 762-0097
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.
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