TSX.V:
FKM OTCQB: FKMCF
Frankfurt: F7E1
ROUYN-NORANDA, QC, March 28,
2023 /CNW/ - Fokus Mining Corporation ('Fokus" or
the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is
pleased to announce that it has intersected grades of 1.18 g/t Au
over 27 metres and 1.01 g/t Au over 24 metres respectively in drill
holes GA-22-66 and GA-22-67, both located in the RB Zone.
Three other gold-bearing sections containing grades ranging from
1.20 g/t Au to 1.83 g/t Au over thicknesses of 3 to 7.5 metres were
also intersected in GA-22-66, while grades ranging from 1.16 to
1.63 g/t Au over thicknesses of 6 to 9 metres were identified in
GA-22-67.
"The last eight holes completed in the RB area since
December 2022 indicate a significant
gold presence near surface. Additional drilling will certainly be
required to fully evaluate this new gold zone, but we are very
pleased with the results obtained to date. They will eventually add
to the inferred resource defined in the first 43-101 resource
estimate recently delivered by the independent consulting firm
InnovExplo Inc. The RB Zone coupled with the Hurd Zone offers very
substantial gold potential on surface. This area will be our
priority in 2023." stated the Company's President and CEO, Mr.
Jean Rainville.
![Figure 1: Results of 4 historical holes (names beginning VHD and 95-H) and of the 12 holes drilled to date on RB, by Fokus (names beginning by GA) (CNW Group/Fokus Mining Corporation) Figure 1: Results of 4 historical holes (names beginning VHD and 95-H) and of the 12 holes drilled to date on RB, by Fokus (names beginning by GA) (CNW Group/Fokus Mining Corporation)](https://mma.prnewswire.com/media/2041808/Fokus_Mining_Corporation_FOKUS_REPORTS_DIAMOND_DRILL_RESULTS_ON.jpg)
Based on the compilation of all the work and drilling done
mainly in the western part of the Galloway project, it appears that a large
syenitic porphyry gold corridor containing significant gold values
is being developed over several kilometers from the Hendrick Zone
to the Hurd Zone. There is increasing evidence that the Hendrick,
RB and Hurd zones are part of the same intermediate intrusive.
Based largely on the information obtained from drilling on the
Hendrick Zone, the Company is currently evaluating the
implementation of a summer drilling program of approximately 8,000
to 10,000 metres along the inferred gold-bearing corridor between
RB and Hurd.
Also, the Company's management intends to verify the environment
of hole GA-21-59, which had revealed the presence of another
potential gold showing with a grade of 7 g/t Au over 3m intersected at a vertical depth of
approximately 140m. Several other
gold-bearing zones were intersected along this 1,500-metre
hole.
"The environment of hole GA-21-59 should not be overlooked
either. This hole is located approximately 1 kilometer east of
the RB Zone. The compilation of work done in collaboration with ALS
Goldspot has identified several interesting gold target zones. The
59 hole is one of the priority targets outside of the potential
RB-Hurd corridor" said Mr. Rainville.
An application for a drilling permit has been submitted to MERN
for approximately ten new drill holes that will be added to those
for which permits had already been obtained in 2022.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release, release.
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 property 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 kilometres. 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.
Forward-Looking
Statements
This press release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information may
include, among others, statements regarding the future plans,
costs, objectives, or performance of the Company, or the
assumptions underlying any of the foregoing. In this press release,
words such as "may", "would", "could", "will", "likely", "believe",
"expect", "anticipate", "intend", "plan", "estimate" and similar
words and the negative form thereof are used to identify
forward-looking statements. Forward-looking statements should not
be interpreted as guarantees of future performance or results, and
will not necessarily be accurate indications of whether, or the
times at or by which, such future performance will be achieved. No
assurance can be given that any events, anticipated by the
forward-looking information will transpire or occur.
Forward-looking information is based on information available at
the time and/or management's good-faith belief with respect to
future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of
which are beyond the Company's control. These risks, uncertainties
and assumptions include, but are not limited to, those described
under "Financial Risk Management Objectives and Policies" in the
Company's Annual Report for the fiscal year ended December 31, 2021 and under "Risk and
Uncertainties" of the Management's Discussion & Analysis of the
Company for the fiscal year ended December
31, 2021, copies of which are available on SEDAR at
www.sedar.com, and could cause actual events or results to differ
materially from those projected in any forward-looking statements.
The Company does not intend, nor does the Company undertake any
obligation, to update or revise any forward-looking information
contained in this news release to reflect subsequent information,
events, or circumstances or otherwise, except if required by
applicable laws.
SOURCE Fokus Mining Corporation