Rouyn-Noranda, Quebec, Canada, August 31, 2022 – Fokus Mining Corporation, (“Fokus” or the “Company”) (TSXV: FKM, OTCQB: FKMCF, FSE: F7E1) through its management, announces that, in collaboration with the geological and engineering services firm Innovexplo, it has mandated Soutex to supervise various metallurgical tests to be carried out on the mineralized zones drilled in the last two years in the western part of the Galloway property.
This next step follows various studies carried out by Innovexplo including the generation of lithological, structural and alteration models of the same mineralized zones and recommendations to prepare an independent resource estimate on the Galloway project. Soutex specialises in mineral processing and metallurgy, providing services from the early stages of design through to the day-to-day operations of the processing plants. Soutex will be involved at several levels, including overseeing the metallurgical testing required for the current assessment.
“We are now at the stage where we need to perform the various metallurgical tests that will allow us to better qualify and quantify the potential of this large mineralized porphyritic zone on which we have completed a significant amount of drilling but have not yet tested all the targets in this western part of the Galloway property. The metallurgical tests carried out in the past were encouraging but insufficient to complete a resource evaluation in the area delineated by the drilling. As the laboratories have been very late in providing us and other companies in our industry with test results, we think and hope to have the results before the end of this year. We are currently evaluating what exploration work will be carried out in the field during this same period,” said Jean Rainville, the Company’s President, and CEO.
Following regulatory approval, Fokus is also pleased to announce the closing of the agreement with Vantex Resources, disclosed on August 23.
This press release was written and 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.
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 kilometres. Numerous gold deposits are related to that structure and its subsidiaries. The Company is currently focusing its exploration efforts on a small western portion of the mining claims where several mining occurrences have been identified. For more information, please visit our website at:
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.
For further information: Jean Rainville, President & Chief Executive Officer
Tel.: (514) 918-3125, Fax: (819) 762-0097
Email: jrainville@fokusmining.com
Related Links : https://fokusmining.com/
Caution Regarding Forward-Looking Statements
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and 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 as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. 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 such forward-looking information should not be unduly relied upon. Any forward looking information contained in this news 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.