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Fokus Mining Intersected 120.30 Meters at 1.12 G/t Au Included in a Broader Segment that Returned 367.45 Meters at 0.72 G/t Au on Hendrick Zone, Galloway

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Fokus Mining Corporation (TSX-V: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased to announce that it has intersected 519.20 meters grading 0.62 g/t Au, including sections of 367.45 meters grading 0.72 g/t Au, 120.30 meters at 1.12 g/t Au, 74.40 meters at 1.36 g/t Au and 12.90 meters at 2.61 g/t Au in hole GA-20-10 in the Hendrick sector of the Galloway project. Hole GA-20-14, drilled 60 m east of hole GA-20-10, intersected over 500 m of mineralized syenite similar to hole GA-20-10. The results are expected soon.

 

The Hendrick gold zone is characterized by the presence of disseminated and stringers of pyrite, chalcopyrite with local molybdenite and specks of visible gold. The mineralized zone is comprised within a magnetite and potassic feldspar alteration envelope characteristic of Au-Cu porphyry deposits. The Company therefore believes it is in the presence of an extended gold system due to the presence of syenitic intrusives favoring the link between the various gold zones such as Hendrick, GP, Moriss and Hurd.

 

The Company also requested assays for copper and silver in holes GA-20-10 and GA-20-14. Assays for Ag and Cu are pending. In order to verify the various extensions of the Hendrick zone, the management of the Company plans to complete several new drill holes in the coming weeks.

 

Jean Rainville, CEO and President of Fokus commented: “I’m very satisfied with the results to date despite the slowness of the labs and it corresponds to the expectations of the Company. We have almost completed 20% of the proposed program and we do not have 50% of the assays yet. Noteworthy, the fact that on Hendrick we are finding gold grades that exceed historical results and that in nearly every hole drilled to date there is at least background gold values showing how prospective the Golden Triangle of Galloway is. The Company now believes that an important porphyry system exists on the Galloway project.”

 

Moreover, the 3D inversion interpretation of a very high-resolution magnetic heli-borne survey recently flown over the prospective area demonstrates the probable presence of two other syenite intrusives. One of them is located northeast of the Hendrick gold zone and in close proximity to the Hurd gold zone. Further drilling is planned in this area. The other magnetic anomaly is located east of the Hendrick zone and is interpreted as a syenite intrusive, historic hole 99-H-30 having intersected 800 m of porphyritic syenite mineralized with pyrite and chalcopyrite all along the hole. Although interpretation is not fully completed, the Company believes that an important porphyritic intrusions system and related mineralization exists on the property. Current drilling will attempt to prove this hypothesis while making the link between the various gold zones.

 

The Renault Bay syenite which is a part of that system had been identified by the Quebec government geologists in a special study on Au-Cu porphyry deposits (EP 2006-03) as a favorable exploration target for those types of deposits. More information on the magnetic survey interpretation will be provided shortly by management. Maps will soon be posted on the Company’s website.

 

A total of 25 holes (see Figure 1) were completed to date and two holes are in progress totalling 9,708 meters drilled on the Galloway project since the beginning of the 2020-2021 drill campaign. On the Moriss zone, most of the holes have intersected the marker intermediate dyke and the Moriss shear zone on its footwall. The intersections carry variable mineralization and results to date may indicate that the gold distribution in the Moriss zone may not be homogenous resulting in a nugget effect that was already experienced in some historical holes.  Drilling also show that the marker dyke is present at depth (assays pending) and absent to the east, indicating that the Moriss zone is closed to the east. Complete assays were received for only ten holes and partial results for two holes. Significant gold intercepts are presented in Table 1. Drill hole information are presented in Table 2.

 

Figure 1.

 

 

Table 1. Significant intercepts

 

 

Table 2. Drill hole information

 

Hole Interval (m) Au (g/t) Zone
From To Length
GA-20-01 103.00 106.00 3.00 2.57 Moriss
including 104.50 106.00 1.50 3.88
GA-20-02 NSV Moriss
GA-20-03 95.50 103.00 7.50 2.40 Moriss
including 95.50 98.50 3.00 4.92
GA-20-04 289.00 290.50 1.50 8.32 Moriss
GA-20-05 NSV Moriss
GA-20-06 101.75 103.50 1.75 1.71 Moriss
250.00 253.00 3.00 0.80
including 250.00 251.50 1.50 1.29
GA-20-07 311.50 314.40 2.90 0.92 Moriss
389.30 392.30 3.00 2.22
GA-20-08 324.50 326.00 1.50 1.40 Moriss
GA-20-09 90.00 90.80 0.80 1.83 Moriss
GA-20-10 476.80 844.25 367.45 0.72 Hendrick
including 677.30 797.60 120.30 1.12
including 706.70 781.10 74.40 1.36
including 733.40 746.30 12.90 2.61
GA-20-11 156.50 158.00 1.50 1.42 Moriss
GA-20-12 PENDING Moriss
GA-20-13 PENDING Moriss
GA-20-14 PENDING Hendrick
GA-20-15 PENDING Moriss
GA-21-16 PENDING Moriss
GA-21-17 PENDING Moriss
GA-21-18 PENDING Moriss
GA-21-19 PENDING Moriss
GA-21-20 PENDING Moriss
GA-21-21 45.00 316.50 PENDING Moriss-Ext
316.50 317.75 1.25 0.48
320.65 324.00 3.35 0.29
324.00 389.50 PENDING
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 BEING DRILLED GP
GA-21-27 BEING DRILLED Moriss-Ext
* 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-20-01 617180 5339059 175 -48 252
GA-20-02 617161 5339070 180 -45 252
GA-20-03 617136 5339065 180 -45 252
GA-20-04 617202 5339143 180 -70 351
GA-20-05 617232 5339186 180 -72 411
GA-20-06 617233 5339049 180 -45 258
GA-20-07 617276 5339071 180 -72 405
GA-20-08 617400 5339110 180 -65 402
GA-20-09 617112 5339066 182 -45 252
GA-20-10 617320 5338614 178 -78 996
GA-20-11 617089 5339063 177 -45 252
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 being drilled
GA-21-27 617298 5339233 180 -75 being drilled

 

Fokus also wishes to inform that it will pay to the Vendor of the Galloway project the third cash payment of $250,000 next week. Only $250,000 cash payment will be due in three months in order to complete the acquisition of 100% interest in the mineral claims of the Galloway project (see details of the transaction in the press release dated July 16th, 2020).

 

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 February 19, 2021

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