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Fokus Mining Intersected 106.5 Meters at 1.09 G/T AU on Drill Hole GA-20-14 and Confirms the Presence of Significant Copper-Gold Porphyry System at Galloway’s Hendrick Zone

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Fokus Mining Corporation (TSX-V: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased to announce that hole GA-20-14, located 60 meters from hole GA-20-10 (see assay results of the press release of February 19, 2021: 120.30 meters grading 1.12g/t Au) in the Hendrick zone tends to demonstrate the continuity of the mineralization over a significant lateral extension as it has intersected  264.00 meters grading 0.83 g/t Au, including 106.50 meters grading 1.09 g/t Au. Assay results for copper and silver are not available yet for hole GA-20-14 but they have been received for GA-20-10 (see table below).

 

 

TABLE WITH RESULTS AND MAP

 

Hole Interval (m) Au (g/t) Zone
From To Length*
GA-20-12 98.00 102.20 4.20 1.40 Moriss
196.00 199.50 3.50 1.35 M2
205.50 207.00 1.50 5.29 M2
GA-20-13

 

107.50 111.50 4.00 1.78 Moriss
194.20 202.40 8.20 0.65 M2
GA-20-14

Including

Including

Including

580.50 844.50 264.00 0.83 Hendrick
580.50 593.90 13.40 1.59
672.00 778.50 106.50 1.09
706.00 728.50 22.50 1.33
956.00 1000.50 44.50 0.51
GA-20-15 124.20 130.30 6.10 3.64 Moriss
Including 124.20 128.90 4.70 4.42
GA-21-16 138.00 147.50 9.50 1.87 Moriss
Including 142.40 147.50 5.10 2.90
GA-21-17 165.00 167.70 2.70 0.65 Moriss
GA-21-18 164.15 169.50 5.35 4.68 Moriss
217.00 220.00 3.00 2.02 M2
GA-20-19 PENDING Moriss
GA-21-20 191.50 194.50 3.00 0.61 Moriss
GA-21-22 PENDING GP
GA-21-23 PENDING Moriss-Ext
GA-21-24 PENDING GP
GA-21-25 PENDING Moriss-Ext
GA-21-26 PENDING GP
GA-21-27 PENDING Moriss-Ext
GA-21-28 PENDING GP
GA-21-29 PENDING GP
GA-21-30 BEING DRILLED Hendrick
GA-21-31 PENDING GP
GA-21-32 BEING DRILLED GP

 

* Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be greater than 75% in the Moriss zone. True widths at the Hendrick Zone are currently unknown.

 

 

 

Hole_ID UTMx_East UTMy_North UTM_AZM DIP Total_Depth (m)
GA-20-12 617071 5339105 182 -45 252
GA-20-13 617083 5339101 178 -45 252
GA-20-14 617382 5338583 178 -78 1002
GA-20-15 617136 5339101 178 -45 252
GA-21-16 617090 5339142 178 -45 264
GA-21-17 617102 5339174 178 -45 297
GA-21-18 617126 5339154 178 -45 303
GA-21-19 617162 5339188 178 -50 300
GA-21-20 617159 5339163 178 -45 300
GA-21-21 617586 5339391 180 -45 396
GA-21-22 617653 5339037 175 -45 207
GA-21-23 617498 5339347 180 -75 450
GA-21-24 617838 5339155 178 -45 474
GA-21-25 617403 5339331 180 -75 432
GA-21-26 617817 5339183 177 -45 399
GA-21-27 617298 5339233 180 -75 375
GA-21-28 618059 5339183 182 -45 438
GA-21-29 617770 5339155 180.5 -45 402
GA-21-30 617614 5338627 178 -78 BEING DRILLED
GA-21-31 617747 5339141 180 -45 420
GA-21-32 617850 5339121 180 -45 BEING DRILLED

 

In-fill drilling in the Moriss gold zone has yielded results as expected. In the Hendrick zone, copper and silver assays were received for hole GA-20-10 and are presented in the table below. The AuEq grade for hole GA-20-10 is now 0.84 g/t AuEq for the 367.45 m interval. Copper and silver thus represent 12% of the AuEq grade.

 

 

Hole Interval Au (g/t) Ag (g/t) Cu (%) AuEq* (g/t)
From To Length**
GA-21-10 476.80 844.25 367.45 0.72 1.47 0.07 0.84
Including 677.30 797.60 120.30 1.12 2.02 0.116 1.31
Including 706.70 781.10 74.40 1.36 2.41 0.135 1.59
Including 733.40 746.30 12.90 2.61 2.58 0.141 2.85

 

*Gold equivalent grades are for comparative purposes only. Calculations are uncut and recovery is assumed to be 100% as no metallurgical data are available. The metal prices including: US$1685/oz Gold, US$24/oz Silver, US$4.0/lb. Copper were used for (AuEq g/t). **Lengths are downhole drilled core lengths.

 

GA-20-14 is located 60 m east of hole GA-20-10 and results for this hole seems to confirm the Au-Cu porphyry nature of the mineralization at the Hendrick zone as well as its continuity. Drill hole VPE-10-36 is located 70 m east of hole GA-20-14 and it has intersected 0.99 g/t Au over 114 m.  Au-Cu porphyry deposits are not frequent in the Abitibi Greenstone Belt but are the main type of deposits sought in the Canadian Western Cordillera. A resource over 100M oz. Au is now being developed in British Colombia and Yukon with grades varying between 0.20 and 0.60 g/t Au. A study by the Ministère de l’Énergie et des Ressources naturelles du Québec (EP-2007-01) concluded that many mines of the Chibougamau mining district are Au-Cu porphyry deposits. In the same study, the Baie Renault syenite was determined as a high –favorability zone and exploration target for Au-Cu porphyry deposit.

 

Jean Rainville, CEO and President states:  “the region has an illustrious mining history and we have just only scratched the surface in terms of exploration potential of this large Galloway property, the Company’s flagship .There are so several  targets to be tested from Hendrick to GP and Hurd and many more new targets identified with the recent geophysical survey including one very large never tested anomaly located less than on kilometer from Hendrick that will be tested later this year. As we indicated, we still do not have the copper and silver assays for GA-20-14 but there is evidence of such mineralization in the drill core which reinforces our view that this zone represents a copper-gold porphyry type of mineralized system.”

 

As the drilling program progresses well, despite accumulated continued backlog at the laboratories, the Company believes to be in a position to revisit the resource estimate on the GP zone produced in 2012 and produce a resource estimate as well on the Hendrick sector before the end of calendar 2021. Note that in 2012, an independent consulting firm produced an NI43-101 report on the GP zone: near surface indicated resource of 240,000 ounces of gold and an inferred resource of 32,000 ounces of gold (Mineral Resource Technical Report, Galloway Gold Project, Quebec, Canada, SRK Consulting, 2012).

 

The Company also intends to carry preliminary metallurgical tests in the Hendrick zone similarly to the testing completed on the GP sector in 2012 and the Hurd sector in 2013.

 

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

 

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.

 

Posted March 31, 2021

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