FOKUS MINING IDENTIFIES MULTIPLE TARGETS FROM DEEP TITAN SURVEY AND PREPARES FOR PHASE 2 DRILLING
TSX.V: FKM OTCQB: FKMCF Frankfurt: F7E1
ROUYN-NORANDA, QC, April 23, 2025 /CNW/ - Fokus Mining Corporation ("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased to provide an update on its 2025 exploration activities at the Galloway Property ("Galloway Project"), located in Abitibi, Quebec, along the Cadillac-Larder Lake Fault, between the Rouyn-Noranda and Kerr-Addison mining camps. The Galloway Project outlined a NI 43-101 inferred mineral resource of 1.42 million ounces of gold (41.2 Mt at 1.07 g/t Au) at US$1,750/oz, or 1.79 million ounces (57.5 Mt at 0.97 g/t Au) at US$1,960/oz, as detailed in our March 23, 2023, press release. This update follows the completion of a deep-penetrating TITAN geophysical survey and provides an overview of the Phase 2 drilling program, which will target newly identified anomalies across the Galloway Project.
Results from Deep TITAN Geophysical Survey
Philippe MacKay, President and CEO of Fokus Mining commented: "The results of the TITAN survey have significantly improved our understanding of the Galloway Project's subsurface geology and highlights the massive scale of the Galloway geological system, reinforcing its potential for significant mineralization across multiple zones. The identification of multiple high-priority targets, particularly those associated with chargeability and magnetic anomalies, provides compelling opportunities to expand known zones and potentially make new discoveries. We're looking forward to testing undrilled targets at Moriss, Hendrick, and Zone 59 in our upcoming Phase 2 drilling program."
During Q1 of 2025, Fokus Mining conducted a deep penetrating TITAN 24 distributed array DCIP survey over their Galloway Project. The survey was designed, supervised, and modelled by Hardrock Geophysics, who also completed magnetic 3D inversion modelling of an existing high resolution magnetic survey and an integrated interpretation of all the data across the property. This work was carried out with the goal of increasing the understanding of the geological architecture of the area, and to define target areas which could host gold mineralization.
The TITAN 24 distributed array DCIP survey, offered by Quantec Geoscience, is a deep penetrating geophysical technique for mapping the distribution of resistivity and chargeability to depths up to 750 meters. These parameters are useful for mapping geology, alteration, and the distribution of disseminated sulphide mineralization. The survey conducted at the Galloway project was completed over 8 lines with a 200 meters line spacing, totaling 32.9-line kilometers, and covering an approximate area of 605 hectares. The integrated interpretation yielded very interesting results with the magnetic, resistivity, and chargeability data and models showing good correlation with the known geology and alteration of the area. Large halos of chargeability are seen surrounding possible deep rooted magnetic anomalies, which may be related to intrusions with disseminated sulphide/alteration halos surrounding them. Several of the known gold zones are proximal to, or coincident with, chargeability anomalies and many are flanking magnetic anomalies. This is a useful observation for defining possible trends of interest and focusing exploration.
From the integrated interpretation, several target areas/trends have been identified, shown in figure 1. These include:
- A high chargeability zone down dip of the Moriss deposit, figure 2.
- Possible extensions to the Hendrick zone along the flank of a large magnetic anomaly and coincident with zones of high chargeability,
- An area flanking a covered magnetic anomaly east of Galloway, Zone 59, with deep gold intercepts and which is untested at shallower depths, figure 3.
- Chargeability anomalies that appear to be associated with, and extend beyond, the RB and Hurd zones.
- A zone of chargeability flanking a magnetic anomaly west of Hurd which is also on trend with a known structure.
Phase 2 Drilling Targets
Fokus Mining is set to resume drilling in the coming days with the start of Phase 2 of its 2025 exploration program. This phase consists of approximately 2,800 meters of drilling, bringing the combined total for Phases 1 and 2 to 5,000 meters. The objective of Phase 2 is to conduct step-out drilling around known mineralized zones and to test newly identified anomalies, with the aim of making new discoveries near existing resources.
Drilling will begin on the Moriss target, where previous holes returned the highest-grade intercepts on the property to date. Highlights include hole GA-23-76, which intersected 51.13 g/t Au over 5 meters, (Fokus Mining Corp., February 7, 2024, "Fokus Intersects 5m Grading 51.13 g/t Au at the Galloway Gold Project", Press Release, available at https://fokusmining.com/fokus-intersects-5m-grading-51-13-g-t-au-at-the-galloway-gold project/), and hole GA-24-86, which returned 10.06 g/t Au over 10.0 meters, including 6 meters grading 15.91 g/t Au (Fokus Mining Corp., April 16, 2024, "Fokus Mining Intersects 10 Metres Grading 10.06 g/t at the Galloway Project", Press Release, available at https://fokusmining.com/fokus-mining-intersects-10-metres-grading-10-06-g-t-at-the-galloway-project/).The current hole is designed to test a strong chargeability anomaly located adjacent to a magnetic inversion, approximately 125 meters down-dip from the known Moriss mineralization. This anomaly has never been drill-tested. The second hole will target the Hendrick Zone, with step-out drilling of 120 meters designed to extend the higher-grade core. This zone is interpreted to be well-suited for a potential underground bulk-tonnage mining scenario. The recent geophysical data suggest the mineralized system remains open to the southwest and northeast. A third hole will target a magnetic anomaly near Zone 59, following up on results from hole GA-21-59 (Fokus Mining Corp., May 17, 2021, "Fokus Discovers a New Gold Zone on Galloway", available at https://fokusmining.com/fokus-discovers-a-new-gold-zone-on-galloway/).
Qualified Persons
The scientific and technical disclosure related to the geophysical results and integrated interpretation of the area, which excludes drilling results, assays, and minerals resource estimates, for Fokus included in this press release has been reviewed and approved by Matthew Penney, P. Geo. (permit number 10482). Mr. Penney is a professional geophysicist and a qualified person under National Instrument 43-101 Standards of Disclosure of Mineral Projects ("NI 43-101"). He is an independent consultant and president of Hardrock Geophysics Inc. The scientific and technical disclosure related to drilling results, assays, and mineral resource estimates for Fokus included in this press release have been reviewed and approved by Nathalie Landry, P. Geo. (permit number 00796). Ms. Landry is a geologist and a qualified person under National Instrument 43-101 Standards of Disclosure of Mineral Projects ("NI 43-101"). She is an independent consultant for the company, working for Technominex. Both Mr. Penney and Mrs. Landry consent to the publication of this press release dated April 23, 2025, and certifies that it fairly and accurately represents the scientific and technical information that forms its basis
About Fokus
Fokus Mining Corporation is a mineral resource company focused on acquiring and exploring precious metal deposits in Quebec, Canada, particularly in the Abitibi region, 20 km West of Rouyn-Noranda, with its Galloway Project.
The 100% owned Galloway Project covers an area of 2,925.91 hectares and is located just North of the Cadillac-Larder Lake Fault, which extends for more than 100 km. Numerous gold deposits are associated with the structure and its subsidiaries. The recent work focused on the Western mining claims of the Galloway Property has allowed the Company to delineate a NI 43-101 inferred mineral resource of 1.42 million ounces of gold (41,195,000t at 1.07 g/t Au) at a price of US$1,750 per ounce. This was published in the press release dated March 23, 2023, which includes a sensitivity table showing that, at a price of US$1,960 per ounce, the inferred mineral resource increases to 1.79 million ounces of gold (57,546,000t at 0.97 g/t Au).
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 within the meaning of Canadian securities legislation, relating to the exploration and mineralization on the Galloway Gold Project; the extent of mineralization and the discovery of zones of high-grade gold mineralization; plans for future exploration and drilling and the timing of same; the merits of the Galloway Gold Project; and funding of the exploration program. 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. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration, drilling and assay results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects The reader is urged to refer to the Company's Management's discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
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SOURCE Fokus Mining Corporation
For further information: Philippe MacKay, P. Eng., MBA, President & CEO, Fokus Mining Corp., Tel.: (514) 974-4349, Email: [email protected]
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