Rouyn-Noranda, Quebec, Canada, April 21, 2021 – Fokus Mining Corporation (“Fokus” or the “Company”) (TSXV: FKM, OTCQB: FKMCF, FSE: F7E1) is pleased to present all drill results available from the current 2020-2021 Fokus drill campaign and previous drill campaigns by predecessor companies on the Hendrick sector of the Galloway project.
Please note that the results shown on the following table include not yet released assays for copper and silver from hole no GA- 20-14. The results are quite comparable to the results of hole GA-20-10 for which results were released in February by the company. Of particular significance, the fact that the Hendrick mineralized zone has now been drill confirmed over a strike length of at least 500 meters with fairly consistent mineral gold-copper and silver content in a copper-gold porphyry system associated with a syenite intrusion.
It is premature to be assured of the genetic origin of the Hendrick mineralized zone but is certainly within the copper-gold porphyry model which is among the largest reservoirs of gold in the upper crust and is an important source for gold in lower temperature epithermal deposits. It is therefore suggested that the main control for the mineralization is the syenite intrusion and similarly it is the probable control of mineralization of most of the westerly portion of the Galloway project.
Turning to the last December high resolution geophysical survey, the Company is also pleased to present some of the results of the heliborne survey that covered only the western third of the Galloway property. A network of 151 flight lines spaced every 25 meters allowed the acquisition of 621.1 km of magnetic data. The following map shows the 3d magnetic inversion and is currently being used to establish a drillhole path to test the potential targets of mineralization taking into account the historic data. The 3D inversion model shows a magnetic mass at the Hendrick showing. It is interpreted by the presence of the porphyric intermediate intrusion which often carries magnetite. Two other larges magnetic masses are also evidenced by the 3D inversion model. Previous geological and drill hole information show that the area underlying these magnetic masses is also covered by intermediate intrusions that carry gold and copper mineralization. We are confident to discover other mineralized zones similar to the Hendrick gold zone. More details on the geophysics will soon be presented on the Company’s website.
As the main short-term target remains sector A which covers the Hendrick and GP (Galloway) sectors, the Company will also begin shortly to drill test the sector B between the GP that encompasses a near surface NI 43-101 resource and the Hurd mineralized showing. The Company will also investigate by drilling the recently identified large target shown in sector D (identified with the recent airborne survey). Some of the targets of sector C should be tested in the calendar year 2021.
Jean Rainville, CEO and President of Fokus states: “the drill results on the Hendrick zone are quite encouraging. We will turn our attention in the next few weeks on the GP sector before we go back to Hendrick to test the potential lateral extensions before the summer. When looking at the results of the last December high resolution geophysical survey, one can only appreciate the number of high-quality targets for mineralization that have been identified on the segment that covers only the one third of the large Galloway property that has been covered. We are so optimist about the potential of the entire property that we have decided to cover the part not yet covered with recent geophysics with an additional 1,100 km of flown lines.”
Quality Control and Assurance
The design of the Galloway project drilling programs Quality Assurance/Quality Control and interpretation of results is under the control of Fokus geological staff including qualified person employing a strict QA/QC program consistent with NI 43-101 and industry best practices. The Galloway project is supervised by Gilles Laverdière, P. Geo.
Drill core is logged and split with half-core samples packaged and delivered to AGAT Laboratories. Samples are dried and subsequently crushed to 75% passing a 2 mm mesh screen. A 250g subsample is pulverized to a nominal 85% passing 75 microns mesh screen. The remaining crushed sample (reject) and pulverized sample (pulp) are retained for further analysis and quality control. All samples are analysed by Fire Assay with an Atomic Absorption (AA) finish using a 50g aliquot of pulverized material. Assays exceeding 3 g/t Au are re‐assayed by Fire Assay with a Gravimetric Finish. Fokus inserts 3rd party independent control reference samples and blank samples regularly in the sample stream to monitor assay performance. Fokus internal control samples represents approximately 10% of the total samples sent for assays. Fokus is planning to perform duplicate sampling at a certified secondary control laboratory. This press release was compiled 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 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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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.