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ROUYN-NORANDA, QC, Nov. 29, 2023 – 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. See Images below.
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.
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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
