TSX.V: FKM OTCQB: FKMCF
FRANKFURT: F7E1
ROUYN-NORANDA, QC, Jan. 18,
2024 /CNW/ - Fokus Mining Corporation
("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF)
(FSE: F7E1) is pleased to provide an exploration update on its
Galloway project located in the
Abitibi region of Québec.
As mentioned in previous press releases, last November's program
was to include a minimum of 1,500 metres of diamond drilling with
seven or eight holes. This target has been exceeded:
- Five holes have been drilled on the Moriss mineralised
area for a total of 903 metres (holes GA-23-75 to GA -23-79);
and
- Three holes have been drilled in the Fayolle mineralised
area for a total of 840 metres (holes GA-23-80 to
GA-23-82).
The press release of November 29,
2023, described the objectives of the drilling campaign on
the Moriss zone, which followed on from an earlier drilling
campaign by Fokus. However, this is the Company's first exploration
effort to test the Fayolle area of Galloway located approximately one kilometre
north of the Hurd area and approximately 3.5 km north-east of the
GP zone. Previous companies drilled a few shallow holes on Fayolle
and obtained some low-grade gold values.
Jean Rainville, CEO and
President, says: "We hope to be able to increase the resource on
Moriss. Furthermore, with our tests on Fayolle we are now moving
out of the areas where we have been concentrating. The goal is not
only to evaluate Fayolle with these drill holes but also to
investigate the potential extensions of Hurd. In fact, a
417-metre-long hole should also provide information on another
copper-gold target to the north-west. Core logging was completed
for this program last week and we expect to receive some of the
assays before the end of the month."
Jean Rainville also said: "As
indicated in our press release of December
4, 2023, we expect to resume another minimum 1,500-metre
diamond drilling campaign towards the end of the month. We are in
the process of finalising the program, but we will certainly
include at least a few holes on the recently discovered RB
mineralised zone, where we have already drilled 19 holes (press
release dated 6 September 2023).
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: www.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