ROUYN-NORANDA, QC, Nov. 29,
2023 /CNW/ - Fokus Mining Corporation
("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF)
(FSE: F7E1) is pleased to announce that it began its winter
drilling program on the Galloway Project in the Abitibi region last
week. This campaign will be entirely devoted to drilling, with a
minimum of 1,500 metres planned. As indicated in the press release
of September 6, 2023, the first
series of holes is being completed on the Moriss Zone for a total
of around 950 metres with six shallow holes designed to validate a
possible NS gold system. Several holes had already intersected high
gold values in this sector and an initial NI 43-101 compliant
resource estimate for Moriss was released earlier in 2023:
514,000 tonnes grading 2.74 g/t gold. The program will also
include a series of holes in the Fayolle sector located North East
of Moriss.
Jean Rainville, President, and
CEO of Fokus stated: "Having reviewed the data, we believe it is
worth continuing our efforts at Moriss and additional funds will be
allocated to Fayolle in the short term to complete our minimum
target of 1,500 metres in this campaign."
In other news, Fokus states that the sponsorship contract that
the Company had signed with RocksAndStocksNews, a private company
based in Mexico and headed by
Allan Laboucan, expired on October
the 17, 2023. The contract with this online precious metals and
mining stocks portal, worth $15,000,
had been paid in full at the beginning of the period, and therefore
no shares or options were given as additional compensation.
The Company has also just entered into a one month sponsorship
agreement with Gold Investment Letter, a Miami based private entity for cash
consideration of $50,000. No shares
or options will be issued as part of compensation.
Jean Rainville concludes: "Our
efforts on Moriss are aimed at improving the initial NI 43-101
estimate, and we are confident that this new drilling program will
provide us with additional valuable information on this zone. We
are also now also initiating an exploration effort on the Fayolle
sector with a series of drillholes."
Qualified Person
The scientific and technical disclosure for Fokus included in
this news release have been reviewed and approved by Gilles
Laverdière, P. Geo. Mr. Laverdière is geologist and qualified
person under National Instrument 43-101 Standards of Disclosure of
Mineral Projects ("NI 43-101") and a director of the Company.
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
undertaking and implementing this major project 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 extensions. The
current work focuses on the western portion of the mineral claims
where several mineral occurrences have been identified. For more
information, visit our website: fokusmining.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
Related Links
http://fokusmining.com/
Caution regarding forward-looking
statements
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.
SOURCE Fokus Mining Corporation