TSX.V: FKM OTCQB: FKMCF
Highlights:
- Fokus intersects 10m grading 10.06 g/t Au including 6m grading 15.91 g/t Au on the Moriss showing.
- Fokus finds significant Au values in the area of the
Fayolle showing. - Fokus confirms the gold-bearing extension of the
Hurd Zone at depth.
Four of the six holes drilled during the short 1,300-metre winter 2024 drilling program on the
Hole | From (m) | To (m) | Length (m) | Au (g/t) | Ag (g/t) | Zone |
GA-23-80 | 52.5 | 53.0 | 0.50 | 3.50 | 2.8 | |
GA-23-80 | 121.5 | 123.0 | 1.50 | 1.13 | 1.8 | |
GA-23-80 | 145.5 | 147.0 | 1.50 | 1.02 | 1.5 | |
GA-23-81 | 43.5 | 46.5 | 3.00 | 1.15 | 0.6 | |
GA-23-81 | 85.5 | 87.0 | 1.50 | 1.07 | 1.7 | |
GA-23-81 | 124.5 | 126.0 | 1.50 | 1.13 | 0.3 | |
GA-23-81 | 233.5 | 234.0 | 0.50 | 1.68 | 1.3 | |
GA-23-82 | 279.0 | 306.0 | 27.00 | 0.86 | 1.0 | Hurd |
including | 287.0 | 291.0 | 4.00 | 1.05 | 1.1 | |
including | 295.5 | 306.0 | 10.50 | 1.19 | 1.0 | |
GA-24-84 | 256.5 | 258.0 | 1.50 | 2.20 | 3.7 | Moriss |
GA-24-84 | 264.0 | 265.5 | 1.50 | 2.03 | 2.6 | |
GA-24-85 | 45.7 | 46.7 | 1.00 | 14.26 | 3.3 | |
GA-24-85 | 156.0 | 157.5 | 1.50 | 1.45 | 0.4 | |
GA-24-85 | 192.9 | 196.5 | 3.60 | 1.24 | 3.61 | |
GA-24-86 | 17.8 | 18.5 | 0.70 | 1.27 | 0.6 | |
GA-24-86 | 125.0 | 135.0 | 10.00 | 10.06 | 11.45 | |
including | 129.0 | 135.0 | 6.00 | 15.91 | 8.87 | |
GA-24-86 | 205.5 | 207.0 | 1.50 | 0.52 | 4.0 | |
GA-24-87 | 220.5 | 222.0 | 1.50 | 20.09 | 7.8 |
This program follows on from the 1,500m program conducted in late autumn 2023 on the same showing (see PR dated
Both programs were largely designed to assess the potential presence of NNW-SSE or N-S trending gold veins intersecting the main Moriss shear zone.
Hurd sector
Hole GA-23-82 drilled in the Hurd zone to evaluate its potential extension at depth intersected a 4m zone grading 1.05 g/t Au and a 10.50m zone grading 1.19 g/t Au approximately 200m vertically. These results demonstrate the potential for gold at surface between 0 and 200m depth. Further drilling will be required to better define the potential of this other gold showing, located around 600m east of the GP and RB zones.
The Company also tested the
The same magnetic anomaly was intersected by drill hole GA-21-35, located approximately 500m west of GA-23-81, which returned a grade of 1.04 g/t Au over 19.50m.
QC/QA
Drill cores were logged and marked for sampling by a professional geologist. All samples were selected by the project geologist. Sample lengths ranged from 0.3 metre to 2.00 metres.
The tag number was marked in indelible ink on the outside of the bag, and the bag was sealed with a plastic tie-wrap. A certified standard reference material was inserted into each batch of 20 samples and a blank was inserted into each batch of 50 samples. For shipping, the samples were placed in individually sealed rice bags with numbered, tamper-evident security labels.
The rice bags were sent to Lab Expert in
Assays exceeding 3g/t Au were verified by re-assaying using FA with a gravimetric finish. Where deemed appropriate by the logging geologist, the sample was analysed using metallic screen assay techniques.
Lab-Expert has reviewed the preparation and assay procedures, as well as the Quality Assurance/Quality Control (QA/QC) protocol and considers them to be generally in line with industry standards.
2024 Proposed Program
The Company is preparing the next steps, including a drilling program to better define the economic gold resource located between 0 and 150m depth in the GP and RB zones. Part of the program will also be used to assess a number of targets to the east of the RB zone. In virtue of the new regulations, the Company will submit its program to the various stakeholders in order to obtain all the permits required to continue its work.
With the recent rise in the price of gold, it has become imperative for the Company to accelerate its work to re-evaluate the resource potential accessible on surface in the GP and RB areas, two zones which are also close to rail and highway infrastructure.
An initial 43-101 resource estimate carried out in 2023 by the firm
As the new mining rules may increase the waiting time for permits, the Company will submit a drilling program of around 125 additional holes for a minimum of 10,000 m of potential drilling for 2024-2025.
The objectives of this additional drilling would be to better delineate the mineralisation in order to potentially upgrade existing resources from Inferred to Indicated status, to confirm and possibly extend the open pit shell gold resource estimates for Ni 43-101 (see
Qualified person
The scientific and technical disclosure for Fokus included in this news release have been reviewed and approved by
The 100%
The current work focuses on a western portion of the mineral claims where several mineral occurrences have been identified. For more information, visit our website: fokusmining.com.
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http://fokusmining.com/
Certain statements contained in this press release may constitute forward-looking information or statements. Forward-looking information is often, but not always, identified using words such as "anticipate", "plan", "estimate", "expect", "may", "will", "will have", "should", and other 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 due to regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes in the Company's strategic growth plans and other factors, many of which are beyond the Company's control. 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, accordingly, such forward-looking information should not be relied upon as such. All forward-looking information contained in this press 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.
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