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FOKUS DISCOVERS A NEW GOLD ZONE ON GALLOWAY

FOKUS DISCOVERS A NEW GOLD ZONE ON GALLOWAY
Canada NewsWire
ROUYN-NORANDA, QC, April 12, 2022

TSX.V: FKM               OTCQB: FKMCF              Frankfurt: F7E1    
ROUYN-NORANDA, QC, April 12, 2022 /CNW/ – Fokus Mining Corporation (“Fokus” or th…

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FOKUS DISCOVERS A NEW GOLD ZONE ON GALLOWAY

Canada NewsWire

TSX.V: FKM               OTCQB: FKMCF              Frankfurt: F7E1    

ROUYN-NORANDA, QC, April 12, 2022 /CNW/ – Fokus Mining Corporation (“Fokus” or the “Company“) (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) announces the discovery of a new gold zone located at about 700 metres east of the GP-RB showings and about 400 metres south of the Hurd showing. Hole GA-21-59, over 1,500 metres long, intersected several gold intersections from 190 to 1,260 metres along the hole.

This drilling was done to test a magnetic signature similar to the Hendrick zone. The results seem to demonstrate that the environment of this hole could contain some auriferous horizons near the surface containing several significant gold grades. Thus, a grade of 7.01 g/t Au over 3 metres was intersected between 192 and 195 metres while a grade of 4.51 g/t Au over 1.5 m was detected at 480 vertical metres.

A grade of 11.45 g/t Au over 1.5 m was also intersected at a depth of 1,252.5 m. This high grade is included in a zone of 136.5 m at a grade of 0.83 AuEq including 1.43 AuEq over 7.5 m and 2.94 AuEq over 6 m (see table below).

HOLE GA-21-59

Hole

Interval (m)

Au
(g/t)

Ag
(g/t)

Cu
(%)

AuEq (g/t)2

Metal
Factor
(Au g/t)

From

To

Length1

GA-21-59

106.50

117.00

10.50

0.62

0.9

0.11

0.81

8

and

192.00

195.00

3.00

7.01

29.5

0.77

12.87

21

including

193.50

195.00

1.50

11.30

17.8

0.61

8.18

17

and

492.00

508.50

16.50

0.88

0.9

0.06

0.99

15

including

498.00

499.50

1.50

4.51

0.8

0.03

4.57

and

741.00

755.50

14.50

0.81

0.6

0.05

0.89

13

and

964.50

966.00

1.50

4.06

1.1

0.04

4.13

6

and

1090.50

1227.00

136.50

0.71

0.8

0.07

0.83

97

including

1138.50

1144.50

6.00

2.79

1.0

0.09

2.94

17

and

1252.50

1254.00

1.50

11.45

2.5

0.05

11.55

17

and

1369.50

1378.50

9.00

0.96

1.4

0.06

1.07

9

¹ All results are presented uncapped and lengths represent core lengths. True widths are interpreted as greater than 90% of measured lengths.

² AuEq been calculated at price of Gold at 1818US$ per Oz., Silver at 23.54US$ per Oz. and Copper at 4.54US$ per pound.

 

This new discovery is in addition to the discovery of the RB zone in 2021, which is in the eastern extension of the GP zone.

The Galloway Project, while offering the potential for a low-grade, high-tonnage gold deposit in a porphyry-copper type system (Hendrick – GP – RB), also offers the potential for richer gold zones such as the Moriss located west of the GP zone.

The Company recognizes the importance of finding other higher grade gold zones in an environment close to the low-grade zones to optimize the overall grade. Also, during 2022, the drilling program will aim, in addition to continuing the definition of the Hendrick zone, to test other gold zones such as Moriss. Following a new compilation of historical data, the Company has thus identified several showings with such potential near surface and hopes to confirm the gold potential of these new targets, by drillings. The Renault Bay (12.44 g/t Au over 1.63 m), Hurd (2.68 g/t Au over 9 m), Pond Zone (7 g/t Au over 3 m), Moriss (11.48 g/t Au over 5.35 m) and Soaker Hill (8.57 g/t Au over 4.87 m) will therefore be drilled as soon as possible. Other potential targets have also been identified based on their favorable geological and structural environment associated with high and low intensity magnetic anomalies (see map).

According to current drilling results, the Hendrick zone, despite less accessibility due to a sedimentary cover (Cobalt Sediment) varying from a few tens of metres to several hundred metres depending on the location, seems to offer significant resource development potential. The Company still wishes to complete a first 43-101 evaluation of the resource with InnovExplo in 2022. Additional drilling as well as metallurgical and mineralogical tests will be necessary to complete this first evaluation.

The following tables summarize the bests results of the 2009-2012 and 2020-2021 drill campaigns on the Galloway project.

 HENDRICK ZONE 2021 RESULTS

Hole

Interval (m)

Au

(g/t)

Ag

(g/t)

Cu

(%)

AuEq (g/t)2

Metal
Factor
(Au g/t)

From

To

Length1

GA-20-10

476.80

844.25

367.45

0.72

1.5

0.07

0.84

265

including

677.30

797.60

120.30

1.12

2.0

0.12

1.31

135

including

745.40

746.30

0.90

17.00

2.0

0.09

17.16

GA-20-14

580.50

844.50

264.00

0.83

1.8

0.09

0.99

219

including

580.50

593.90

13.40

1.59

3.9

0.09

1.78

21

including

672.00

778.50

106.50

1.09

1.9

0.15

1.34

116

including

706.00

728.50

22.50

1.33

4.0

0.17

1.65

30

and

777.50

778.50

1.00

12.35

3.4

0.34

12.92

13

GA-21-30

604.50

819.00

214.50

0.52

0.52

112

including

613.50

700.50

87.00

0.68

7.06

0.36

1.30

59

including

676.50

700.50

24.00

1.53

4.30

0.32

2.06

37

GA-21-44

584.50

717.00

132.50

0.52

3.4

0.21

0.89

69

and

957.00

981.00

24.00

1.36

1.1

0.03

1.43

34

including

978.00

979.50

1.50

9.93

7.5

0.05

GA-21-47

634.50

736.50

102.00

1.14

1.1

0.17

1.42

145

including

663.00

697.50

34.50

2.18

2.0

0.26

2.61

75

and

870.00

918.00

48.00

1.03

1.70

0.17

1.32

63

GA-21-48

552.00

681.00

129.00

1.05

0.7

0.07

1.16

150

including

613.50

615.00

1.50

15.30

0.1

0.03

15.35

including

660.00

681.00

21.00

2.71

0.5

0.07

2.82

57

including

670.50

681.00

10.50

4.32

0.9

0.06

4.42

45

including

670.50

672.00

1.50

24.40

4.3

0.05

24.53

and

780.00

847.50

67.50

0.98

0.6

0.14

1.21

66

including

780.00

793.50

13.50

1.25

0.8

0.20

1.57

17

including

807.00

828.00

21.00

1.22

0.8

0.16

1.48

26

including

826.50

828.00

1.50

7.45

0.3

0.15

7.69

GA-21-51

715.50

808.50

93.00

0.63

0.8

0.03

0.69

59

including

720.00

721.50

1.50

6.61

4.7

0.04

6.72

GA-21-52

838.50

946.50

108.00

0.72

1.2

0.14

0.95

78

including

838.50

876.00

37.50

0.96

2.0

0.22

1.32

36

including

855.00

856.50

1.50

5.70

7.9

0.50

6.57

including

909.00

946.50

37.50

0.83

1.2

0.12

1.03

31

GA-21-53

621.00

933.00

312.00

0.89

1.80

0.17

1.18

278

including

621.00

765.00

144.00

1.29

1.80

0.23

1.67

186

including

621.00

669.00

48.00

1.19

1.70

0.28

1.65

57

including

687.00

765.00

78.00

1.53

2.10

0.22

1.90

119

including

832.50

933.00

100.50

0.61

2.50

0.16

0.88

61

including

865.50

880.50

15.00

1.33

4.20

0.30

1.84

20

GA-21-56

625.50

948.00

322.50

0.83

1.3

0.12

1.03

268

including

681.00

697.50

16.50

2.00

3.00

0.18

2.31

33

including

742.50

756.00

13.50

1.17

3.00

0.17

1.46

16

including

861.00

873.00

12.00

2.88

1.4

0.19

3.19

35

including

868.50

870.00

1.50

11.00

3.3

0.48

11.78

GA-21-57

813.00

876.00

63.00

0.62

0.70

0.06

0.72

39

and

940.50

942.00

1.50

7.10

0.1

0.07

7.21

11

and

957.00

981.00

24.00

1.36

1.1

0.03

1.43

33

GA-21-58

678.00

778.50

100.50

0.98

1.10

0.12

1.18

98

including

678.00

702.00

24.00

1.12

1.70

0.16

1.39

27

including

720.00

778.50

58.50

1.12

1.20

0.13

1.34

66

including

760.50

762.00

1.50

5.74

1.3

0.17

6.02

and

825.00

933.00

108.00

0.65

0.90

0.15

0.89

70

including

825.00

870.00

45.00

0.72

1.80

0.24

1.11

32

including

882.00

897.00

15.00

1.50

0.10

0.06

1.59

23

and

955.50

1026.00

70.50

0.66

0.3

0.08

0.79

56

including

1002.00

1026.00

24.00

1.17

0.3

0.06

1.26

28

HENDRICK HISTORICAL RESULTS

Hole

Interval (m)

Au

(g/t)

Ag

(g/t)

Cu

(%)

AuEq
(g/t)2

Metal
Factor
(Au g/t)

From

To

Length1

VPE-10-15

636.00

801.00

165.00

0.76

2.0

0.11

0.95

157

including

640.50

689.90

8.40

2.98

3.3

0.13

3.22

24

and

940.50

942.00

1.50

11.74

11.74

18

VPE-11-36

657.00

997.50

340.50

0.69

0.9

0.07

0.81

235

including

687.00

775.50

88.50

1.07

1.3

0.11

1.25

95

VPE-12-47

910.50

1110.00

199.50

0.50

0.8

0.07

0.61

100

VPE-12-48

834.00

978.00

144.00

0.82

1.8

0.11

1.02

118

KHD-87-9

62.24

141.85

79.61

0.51

40

and

150.27

259.23

108.96

0.55

60

including

160.32

161.85

1.53

8.97

including

177.09

196.9

19.81

0.69

14

KOD-86-1

423.67

447.65

23.98

1.46

35

including

429.01

430.07

1.06

22.75

and

496.82

599.92

103.10

0.51

52

including

496.82

497.74

0.92

18.07

and

619.96

790.35

170.39

0.99

168

including

619.96

687.63

67.67

1.23

83

including

628.50

630.02

1.52

8.90

including

667.50

668.50

1.00

6.16

including

668.50

669.50

1.00

6.19

including

735.79

736.70

0.91

10.92

and

646.18

705.31

59.13

0.95

56

 

GP ZONE 2021 RESULTS

Hole

Interval (m)

Au(g/t)

Ag(g/t)

Cu(%)

AuEq
(g/t)2

Metal
Factor
(Au g/t)

From

To

Length1

GA-21-22

38.00

77.00

39.00

0.64

25

including

56.00

68.00

12.00

0.91

GA-21-24

13.15

366.60

353.45

0.51

0.85

0.07

0.62

180

including

13.15

123.80

110.65

0.56

1.28

0.06

0.67

62

including

33.00

44.50

11.50

1.12

1.27

0.05

1.22

13

including

267.50

331.50

64.00

0.73

0.67

0.06

0.83

47

including

267.50

276.50

9.00

1.43

0.55

0.07

1.54

13

including

269.00

270.50

1.50

5.26

0.50

0.05

5.34

including

315.50

327.00

11.50

1.09

1.10

0.06

1.20

13

including

360.80

366.60

5.80

1.59

0.89

0.04

1.65

GA-21-26

15.00

119.00

104.00

0.59

61

including

22.50

32.00

9.50

1.63

15

including

27.00

28.50

1.50

5.22

and

140.00

152.00

12.00

0.85

1.6

0.09

1.01

11

and

247.30

346.00

98.70

0.75

74

including

247.30

266.50

19.20

1.05

20

including

295.60

318.50

22.90

1.21

28

including

341.20

346.00

4.80

1.43

GA-21-29

75.00

100.50

25.50

0.51

1.11

0.02

0.56

15

and

172.50

384.00

211.50

0.46

1.71

0.05

0.56

118

including

172.50

231.00

58.50

0.52

1.09

0.05

0.62

including

250.50

318.00

67.50

0.51

1.68

0.04

0.60

including

366.00

375.00

9.00

1.30

4.53

0.19

1.66

12

GA-21-31

115.50

126.00

10.50

1.00

1.66

0.09

1.15

12

and

180.00

214.50

34.50

0.63

1.55

0.06

0.74

26

including

180.00

190.50

10.50

1.00

1.54

0.06

1.11

11

235.50

273.00

37.50

0.74

1.80

0.04

0.82

31

GA-21-32

3.00

52.50

49.50

0.75

1.91

0.04

0.84

42

and

106.50

130.50

24.00

0.73

1.78

0.09

0.88

21

and

147.00

340.50

193.50

0.67

1.3

0.07

0.79

154

including

198.00

274.50

76.50

0.85

0.92

0.05

0.94

65

including

216.00

262.50

46.50

1.00

0.8

0.06

1.10

47

GP HISTORICAL RESULTS

Hole

Interval (m)

Au
(g/t)

Ag
(g/t)

Cu
(%)

AuEq
(g/t)2

Metal
Factor
(Au g/t)

From

To

Length1

KHD-20B

10.40

198.12

187.72

0.49

0.49

91

including

103.50

112.50

9.00

1.12

1.12

10

including

154.00

167.00

13.00

1.06

1.06

14

KHD-21

99.00

293.50

194.50

0.67

1.3

0.69

134

including

151.00

167.50

16.50

1.22

1.22

20

including

222.00

232.50

10.50

1.03

1.03

11

including

249.00

270.00

21.00

1.40

1.40

29

KHD-22

7.55

142.30

134.75

0.64

0.64

86

including

112.50

123.50

11.00

1.70

1.70

19

KHD-23

18.50

108.00

89.50

0.58

0.58

52

KHD-24

10.75

259.10

248.35

0.61

0.61

151

including

83.50

98.00

14.50

1.12

1.12

16

including

151.00

172.50

21.50

1.03

1.03

22

KHD-24

114.50

189.00

74.50

0.79

0.79

59

including

237.50

251.50

14.00

1.39

1.39

19

KHD-87-7

486.80

573.63

86.83

1.10

1.10

95

including

524.87

549.25

24.38

2.33

2.33

57

KHD-87-9

150.27

259.23

108.96

0.55

0.55

60

97-H-19

6.73

152.50

145.77

0.44

0.05

0.52

64

97-H-21

126.50

207.50

81.00

0.59

0.07

0.70

48

97-H-22

59.00

194.00

135.00

0.56

0.07

0.67

76

VHD-09-01

9.50

274.50

265.00

0.54

0.54

142

including

144.00

163.50

19.50

1.00

1.00

20

including

250.50

265.50

15.00

1.26

1.26

19

VHD-09-12

84.40

174.00

89.60

0.80

0.80

71

VHD-09-13

8.25

262.80

254.55

0.64

0.64

163

including

8.25

19.50

11.25

1.04

1.04

12

including

177.00

196.50

19.50

2.19

2.19

43

VHD-09-14

43.50

156.00

112.50

0.44

0.44

50

and

222.00

393.00

171.00

0.48

0.48

82

VHD-09-15

73.50

165.00

91.50

0.56

0.56

51

VHD-09-16

153.00

247.50

94.50

0.76

0.76

71

VHD-09-20

288.00

397.15

109.15

0.50

0.50

55

VHD-09-21

130.50

253.50

123.00

0.62

0.62

76

VHD-09-22

7.50

346.50

339.00

0.43

0.43

146

including

313.50

324.00

10.50

1.11

1.11

12

VHD-10-28

105.00

214.50

109.50

0.50

0.50

55

VHD-10-31

1.50

166.50

165.00

0.77

0.77

127

including

16.50

28.50

12.00

1.72

1.72

21

including

93.00

103.50

10.50

3.07

3.07

32

VHD-10-34

8.00

334.50

326.50

0.44

0.44

144

including

19.50

34.50

15.00

1.61

1.61

24

VHD-10-35

147.00

291.00

144.00

0.54

0.54

77

VHD-10-36

12.00

157.50

145.50

0.52

0.52

75

VHD-10-45

4.50

153.00

148.50

0.46

0.46

68

VHD-10-47

181.50

301.50

120.00

0.48

0.48

57

including

181.50

192.00

10.50

1.79

1.79

19

VHD-10-55

126.00

273.00

147.00

0.48

0.48

71

 

MORRIS ZONE 2021 RESULTS

Hole

Interval (m)

Au
(g/t)

Ag
(g/t)

Cu
(%)

AuEq
(g/t)2

Metal
Factor
(Au g/t)

From

To

Length1

GA-20-01

103.00

106.00

3.00

2.57

8

GA-20-03

95.50

103.00

7.50

2.40

18

including

95.50

98.50

3.00

4.92

15

and

289.00

290.50

1.50

8.32

12

and

389.30

392.30

3.00

2.22

7

GA-20-12

98.00

102.20

4.20

1.40

6

and

196.00

199.50

3.50

1.35

5

and

205.50

207.00

1.50

5.29

8

GA-20-13

107.50

111.50

4.00

1.78

7

and

194.20

202.40

8.20

0.65

5

GA-20-15

124.20

130.30

6.10

3.64

22

Including

124.20

128.90

4.70

4.42

21

GA-21-16

138.00

147.50

9.50

1.87

18

Including

142.40

147.50

5.10

2.90

15

GA-21-18

164.15

169.50

5.35

4.68

25

GA-21-23

386.00

387.50

1.50

7.98

12

 

MORISS HISTORICAL RESULTS

Hole

Interval (m)

Au
(g/t)

Ag
(g/t)

Cu
(%)

AuEq
(g/t)2

Metal
Factor
(Au g/t)

From

To

Length1

VPE-10-02

87.00

91.75

4.75

6.70

32

VPE-10-06

97.50

102.00

4.50

9.08

41

VPE-10-10

101.00

106.35

5.35

11.48

61

VPE-10-11

84.00

89.50

5.50

18.90

104

and

100.50

106.50

6.00

14.38

86

and

145.50

153.00

7.50

2.85

21

VPE-10-17

106.30

111.00

4.70

6.30

30

VPE-10-18

48.00

55.50

7.50

9.56

72

and

78.00

82.50

4.50

2.52

11

VPE-10-19

103.50

106.65

3.15

23.72

75

and

193.50

205.50

12.00

2.73

33

VPE-10-21

126.00

133.50

7.50

2.51

19

VPE-10-23

55.00

56.50

1.50

32.63

49

VPE-11-24

98.60

101.40

2.80

46.96

131

VPE-11-25

99.15

105.00

5.85

15.13

89

VPE-11-27

107.30

111.00

3.70

6.91

26

VPE-11-29

45.00

47.00

2.00

7.32

15

VPE-11-37

82.50

84.00

1.50

8.84

13

and

94.50

96.00

1.50

30.17

45

VPE-11-40

46.50

48.00

1.50

48.91

73

VPE-11-42

98.60

103.60

5.00

5.11

26

VPE-12-49

184.50

185.20

0.70

13.87

10

VPE-12-50

58.00

64.20

6.20

59.51

369

and

117.85

122.90

5.05

5.09

26

VM-13-02

159.00

163.90

4.90

6.70

33

VM-13-03

135.00

140.00

5.00

2.18

11

VM-13-07

137.80

143.35

5.55

2.11

12

VM-13-08

203.20

204.60

1.40

70.67

99

and

42.70

66.00

23.30

1.02

24

VM-13-11

36.35

41.50

5.15

3.64

19

VM-13-15

211.00

212.60

1.60

4.06

6

MO-16-08

45.80

49.80

4.00

2.45

10

 

HURD ZONE 2021 AND HISTORICAL RESULTS

Hole

Interval (m)

Au
(g/t)

Ag
(g/t)

Cu
(%)

AuEq
(g/t)2

Metal
Factor
(Au g/t)

From

To

Length1

GA-21-35

200,00

220,50

19.50

1.04

20

and

219.00

220.50

1.50

5.62

8

GA-21-37

40.50

57.00

16.50

0.83

1.00

0.07

0.95

14

and

213.00

217.50

4.50

3.52

1.70

0.06

3.63

16

VHD-12-57

208.00

223.50

15.00

1.18

18

including

214.50

217.50

3.00

2.66

8

VHD-12-59

138.00

163.50

25.50

1.27

32

including

153.00

162.00

9.00

2.61

23

 

 RB ZONE 2021

Hole

Interval (m)

Au
(g/t)

Ag
(g/t)

Cu
(%)

AuEq
(g/t)2

Metal
Factor
(Au g/t)

From

To

Length1

GA-21-28

50.00

90.50

40.50

0.71

0.2

0.71

29

including

57.50

73.60

16.10

1.06

0.3

17

and

145.00

195.50

50.50

0.69

0.8

0.02

0.74

37

including

159.50

167.00

7.50

1.91

1.6

0.02

1.96

14

and

235.50

241.50

6.00

1.15

0.2

7

and

255.00

289.60

34.60

0.59

0.4

20

and

334.50

393.00

58.50

0.56

0.7

0.09

0.71

41

GA-21-45

69.00

109.50

40.50

0.75

1.3

30

including

81.00

82.50

1.50

5.46

10.9

and

147.00

199.50

52.50

0.89

0.5

47

including

171.00

199.50

28.50

1.20

0.6

34

including

174.00

175.50

1.50

8.77

0.8

and

216.00

232.50

16.50

0.61

0.3

10

and

372.00

459.00

87.00

0.62

0.9

54

including

372.00

396.00

24.00

0.66

0.2

0.01

0.68

16

including

433.50

459.00

25.50

1.02

0.5

0.01

1.05

26

GA-21-46

90.00

96.00

6.00

0.96

1.5

0.11

1.14

7

and

199.50

253.50

54.00

0.60

0.7

0.06

0.70

32

and

291.00

406.50

115.50

0.78

0.3

0.09

0.93

90

including

313.50

339.00

25.50

1.15

0.1

0.07

1.26

29

including

361.50

373.50

12.00

0.99

0.2

0.13

1.19

12

GA-21-49

64.50

100.50

36.00

0.66

0.4

24

and

153.00

171.00

18.00

0.78

0.2

0.01

0.80

14

¹ All results are presented uncapped and lengths represent core lengths. True widths are interpreted as greater than 90% of measured lengths.

² AuEq been calculated at price of Gold at 1818US$ per Oz., Silver at 23.54US$ per Oz. and Copper at 4.54US$ per pound.

 

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.

The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the TSX Venture Exchange Policies) do not accept any responsibility for the truth or accuracy of its content.

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

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