TSX.V: FKM
OTCQB: FKMCF Frankfurt: F7E1
ROUYN-NORANDA, QC, June 14,
2023 /CNW/ - 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
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 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.
Related Links
http://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.
SOURCE Fokus Mining Corporation