Rouyn-Noranda, Québec, Canada, June 14, 2023 – Fokus Mining Corporation (“Fokus” or the “Company”) (TSXV: FKM, OTCQB: FKMCF, FSE: F7E1) is pleased to announce the beginning of approximately 1,650 metres of exploration drilling to further test the RB Zone in which it has drilled 12 holes to date (press release dated March 28th, 2023). RB is one of two major new targets detected in the latest high-resolution airborne magnetic survey in the Renault Bay intrusion area of the Galloway project.
Following the results of the last drilling campaign on the RB zone, where good gold values were obtained in the first 200 metres from surface, the Company decided to drill 7 additional shallow holes to increase the level of confidence in the near-surface gold mineralisation. All the holes are infill with a dip of between 50 and 75 degrees and varying in length from 200 to 260 metres.
The RB Zone is located to the east of the GP gold zone. It was discovered in 2022 because of its magnetic signature, which is similar to that of the gold-bearing syenitic intrusions already known in this part of Galloway. The RB Zone is also in a similar geological setting to the Hendrick Zone and sets the stage for Au-Cu Porphyry mineralisation in the main Renault Bay intrusion. It should be noted that the mineralisation starts closer to surface (press release dated December 1rst, 2022).
Jean Rainville, President, and CEO of Fokus, stated: “Drilling in 2022 and early 2023 on the RB zone indicates significant near-surface gold. We plan to fully evaluate this new gold zone with the potential objective of being able to add to the NI43-101 compliant inferred resource estimate delivered last March. The RB Zone and the corridor that joins the Hurd Zone offer substantial near-surface gold potential, and testing these areas remains our priority in 2023.”
“We will also be reassessing the open pit potential of the GP zone, where only underground potential was examined in our recent resource estimate. This will not be an expensive exercise as no additional drilling is required and metallurgical testing was already carried out on this zone last year,” added Mr. Rainville.
Qualified Person
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.
The Galloway project covers an area of 2865.54 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.
Neither the 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 the release.
For further information:
Jean Rainville, President & Chief Executive Officer
Tel.: (514) 918-3125, Fax: (819) 762-0097
Email: jrainville@fokusmining.com
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