Fokus Mandates InnovExplo to Carry out a Mineral Resource Assessment (Following NI 43-101) for the Galloway Project
ROUYN-NORANDA, Sept. 23, 2021 - Fokus Mining Corp. ("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased to announce that it has mandated InnovExplo Inc., consultant in geology and mining engineering in order to begin mineral resources estimates update on the GP Zone and initial estimates of the AuEq on Hendrick and Moriss zones and overall Golden Triangle area of the Galloway project, where a major drilling program is still underway. InnovExplo will also make a series of recommendations in order to maximize the data from actual and future drilling. Validation and interpretation of the geological data, preparation of advanced 3D models, and other exploration recommendations will be required to achieve those new independent mineral resources estimates following NI 43-101 and CIM Definitions, standards, and best practices. It is currently planned that the NI 43-101 report would be completed in the second quarter of the year 2022.
Note that Fokus had already retained the services of InnovExplo to carry a study on the litho-geochemical characterisation of the different types of lithologies, alteration and mineralization encountered on the Galloway property.
Jean Rainville, CEO and President of Fokus states: "The last resource estimate was produced in 2012 and only included the work done at the time on the GP Zone and did not take into account the Hendrick and Moriss zones. Since then, we have completed over 30,000 additional meters of diamond drilling in these areas. We believe that the production of this evaluation is fully justified and that unfortunately, due to the delays in the drill hole analysis results, we will have to wait until Q2 to get the independent report. For now, we are continuing our planned 40,000 meter program while focusing our energies on the Hendrick zone."
Qualified Person
This press release was approved by Gilles Laverdière, P. Geo. And Qualified Person under National Instrument 43-101.
About Fokus
Fokus Mining Corp. 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 2865.54 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. For more information, visit our website: fokusmining.com
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Caution Regarding Forward-Looking Statements
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and 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 as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. 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 such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news 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 Corp.
Contact
Jean Rainville, President & Chief Executive Officer, Tel.: (514) 918-3125, Fax: (819) 762-0097, Email: jrainville@fokusmining.com