Rouyn-Noranda, Québec, Canada, November 2, 2021 – Fokus Mining Corporation (“Fokus” or the “Company”) (TSXV: FKM, OTCQB: FKMCF, FSE: F7E1) is pleased to announce the beginning of approximately 1500 meters of exploration drilling to test a large magnetic anomaly detected during the last High-Resolution airborne magnetic survey.
Following the results of this survey conducted by Novatem Inc., a large magnetic anomaly offering some similarity to the magnetic anomaly associated with the Hendrick Zone, and located approximately 1 km to the west, has been identified under the Cobalt sediments. The planned drilling of approximately 1,500 meters is intended to test for the presence of a mineralized and altered syenite in this area. This could provide a significant lateral extension to the Hendrick Zone.
Jean Rainville, President and CEO of Fokus states: “The primary control of gold mineralization in the Hendrick Zone appears to be associated with a mineralized and altered syenite intrusive. We believe that this new anomaly may be associated with another intrusive with the same characteristics and that may host gold-copper mineralization, similar to the one found at Hendrick. We are still waiting for results from approximately 20 holes, including a dozen from the Hendrick Zone. All of the holes drilled on Hendrick have intersected the geology and mineralization we are looking for, but the fact that we are not getting the assay results quickly – due to a delay in delivery from the laboratories – is slowing down the progress of the project and the interpretation of the data. Despite these delays, we remain very confident and positive about the value and gold and copper potential of this project.
At this time, the Company is focusing its energies on the validation and 3D interpretation of the geological and drilling data as well as on other work required to complete an initial NI 43-101 compliant resource estimate associated with the Moriss, GP and Hendrick zones. The company expects to receive the conclusions of this report during the second quarter of 2022. To date, Fokus has completed more than 30,000 meters of its ongoing drilling program.
This press release was approved by Gilles Laverdière, P. Geo. 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 Quebec, 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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