Fokus Mining Intersected 120.30 Meters at 1.12 G/t Au Included in a Broader Segment that Returned 367.45 Meters at 0.72 G/t Au on Hendrick Zone, Galloway

TSX.V: FKM OTCQB: FKMCF Frankfurt: F7E1

ROUYN-NORANDA, QC, Feb. 19, 2021 /CNW Telbec/ - Fokus Mining Corporation ("Fokus" or the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased to announce that it has intersected 519.20 meters grading 0.62 g/t Au, including sections of 367.45 meters grading 0.72 g/t Au, 120.30 meters at 1.12 g/t Au, 74.40 meters at 1.36 g/t Au and 12.90 meters at 2.61 g/t Au in hole GA-20-10 in the Hendrick sector of the Galloway project. Hole GA-20-14, drilled 60 m east of hole GA-20-10, intersected over 500 m of mineralized syenite similar to hole GA-20-10. The results are expected soon.

Figure 1 (CNW Group/Fokus Mining Corporation)

Table 1 (CNW Group/Fokus Mining Corporation)

The Hendrick gold zone is characterized by the presence of disseminated and stringers of pyrite, chalcopyrite with local molybdenite and specks of visible gold. The mineralized zone is comprised within a magnetite and potassic feldspar alteration envelope characteristic of Au-Cu porphyry deposits. The Company therefore believes it is in the presence of an extended gold system due to the presence of syenitic intrusives favoring the link between the various gold zones such as Hendrick, GP, Moriss and Hurd.

The Company also requested assays for copper and silver in holes GA-20-10 and GA-20-14. Assays for Ag and Cu are pending. In order to verify the various extensions of the Hendrick zone, the management of the Company plans to complete several new drill holes in the coming weeks.

Jean Rainville, CEO and President of Fokus commented: "I'm very satisfied with the results to date despite the slowness of the labs and it corresponds to the expectations of the Company. We have almost completed 20% of the proposed program and we do not have 50% of the assays yet. Noteworthy, the fact that on Hendrick we are finding gold grades that exceed historical results and that in nearly every hole drilled to date there is at least background gold values showing how prospective the Golden Triangle of Galloway is. The Company now believes that an important porphyry system exists on the Galloway project."

Moreover, the 3D inversion interpretation of a very high-resolution magnetic heli-borne survey recently flown over the prospective area demonstrates the probable presence of two other syenite intrusives. One of them is located northeast of the Hendrick gold zone and in close proximity to the Hurd gold zone. Further drilling is planned in this area. The other magnetic anomaly is located east of the Hendrick zone and is interpreted as a syenite intrusive, historic hole 99-H-30 having intersected 800 m of porphyritic syenite mineralized with pyrite and chalcopyrite all along the hole. Although interpretation is not fully completed, the Company believes that an important porphyritic intrusions system and related mineralization exists on the property. Current drilling will attempt to prove this hypothesis while making the link between the various gold zones.  

The Renault Bay syenite which is a part of that system had been identified by the Quebec government geologists in a special study on Au-Cu porphyry deposits (EP 2006-03) as a favorable exploration target for those types of deposits. More information on the magnetic survey interpretation will be provided shortly by management. Maps will soon be posted on the Company's website.

A total of 25 holes (see Figure 1) were completed to date and two holes are in progress totalling 9,708 meters drilled on the Galloway project since the beginning of the 2020-2021 drill campaign. On the Moriss zone, most of the holes have intersected the marker intermediate dyke and the Moriss shear zone on its footwall. The intersections carry variable mineralization and results to date may indicate that the gold distribution in the Moriss zone may not be homogenous resulting in a nugget effect that was already experienced in some historical holes.  Drilling also show that the marker dyke is present at depth (assays pending) and absent to the east, indicating that the Moriss zone is closed to the east. Complete assays were received for only ten holes and partial results for two holes. Significant gold intercepts are presented in Table 1. Drill hole information are presented in Table 2.

Figure 1.

Table 1. Significant intercepts

Table 2. Drill hole information

Hole	Interval (m)			Au (g/t)	Zone
	From	To	Length
GA-20-01	103.00	106.00	3.00	2.57	Moriss
including	104.50	106.00	1.50	3.88
GA-20-02				NSV	Moriss
GA-20-03	95.50	103.00	7.50	2.40	Moriss
including	95.50	98.50	3.00	4.92
GA-20-04	289.00	290.50	1.50	8.32	Moriss
GA-20-05				NSV	Moriss
GA-20-06	101.75	103.50	1.75	1.71	Moriss
	250.00	253.00	3.00	0.80
including	250.00	251.50	1.50	1.29
GA-20-07	311.50	314.40	2.90	0.92	Moriss
	389.30	392.30	3.00	2.22
GA-20-08	324.50	326.00	1.50	1.40	Moriss
GA-20-09	90.00	90.80	0.80	1.83	Moriss
GA-20-10	476.80	844.25	367.45	0.72	Hendrick
including	677.30	797.60	120.30	1.12
including	706.70	781.10	74.40	1.36
including	733.40	746.30	12.90	2.61
GA-20-11	156.50	158.00	1.50	1.42	Moriss
GA-20-12	PENDING				Moriss
GA-20-13	PENDING				Moriss
GA-20-14	PENDING				Hendrick
GA-20-15	PENDING				Moriss
GA-21-16	PENDING				Moriss
GA-21-17	PENDING				Moriss
GA-21-18	PENDING				Moriss
GA-21-19	PENDING				Moriss
GA-21-20	PENDING				Moriss
GA-21-21	45.00	316.50		PENDING	Moriss-Ext
	316.50	317.75	1.25	0.48
	320.65	324.00	3.35	0.29
	324.00	389.50		PENDING
GA-21-22	PENDING				GP
GA-21-23	PENDING				Moriss-Ext
GA-21-24	PENDING				GP
GA-21-25	PENDING				Moriss-Ext
GA-21-26	BEING DRILLED				GP
GA-21-27	BEING DRILLED				Moriss-Ext

* Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be greater than 75% in the Moriss zone. True widths at the Hendrick Zone are currently unknown.

Hole_ID	UTMx_East	UTMy_North	UTM_AZM	DIP	Total_Depth (m)
GA-20-01	617180	5339059	175	-48	252
GA-20-02	617161	5339070	180	-45	252
GA-20-03	617136	5339065	180	-45	252
GA-20-04	617202	5339143	180	-70	351
GA-20-05	617232	5339186	180	-72	411
GA-20-06	617233	5339049	180	-45	258
GA-20-07	617276	5339071	180	-72	405
GA-20-08	617400	5339110	180	-65	402
GA-20-09	617112	5339066	182	-45	252
GA-20-10	617320	5338614	178	-78	996
GA-20-11	617089	5339063	177	-45	252
GA-20-12	617071	5339105	182	-45	252
GA-20-13	617083	5339101	178	-45	252
GA-20-14	617382	5338583	178	-78	1002
GA-20-15	617136	5339101	178	-45	252
GA-21-16	617090	5339142	178	-45	264
GA-21-17	617102	5339174	178	-45	297
GA-21-18	617126	5339154	178	-45	303
GA-21-19	617162	5339188	178	-50	300
GA-21-20	617159	5339163	178	-45	300
GA-21-21	617586	5339391	180	-45	396
GA-21-22	617653	5339037	175	-45	207
GA-21-23	617498	5339347	180	-75	450
GA-21-24	617838	5339155	178	-45	474
GA-21-25	617403	5339331	180	-75	432
GA-21-26	617817	5339183	177	-45	being drilled
GA-21-27	617298	5339233	180	-75	being drilled

Fokus also wishes to inform that it will pay to the Vendor of the Galloway project the third cash payment of $250,000 next week. Only $250,000 cash payment will be due in three months in order to complete the acquisition of 100% interest in the mineral claims of the Galloway project (see details of the transaction in the press release dated July 16^th, 2020).

Quality Control and Assurance

The design of the Galloway project drilling programs Quality Assurance/Quality Control and interpretation of results is under the control of Fokus geological staff including qualified person employing a strict QA/QC program consistent with NI 43-101 and industry best practices. The Galloway project is supervised by Gilles Laverdière, P. Geo.

Drill core is logged and split with half-core samples packaged and delivered to AGAT Laboratories. Samples are dried and subsequently crushed to 75% passing a 2 mm mesh screen. A 250g subsample is pulverized to a nominal 85% passing 75 microns mesh screen. The remaining crushed sample (reject) and pulverized sample (pulp) are retained for further analysis and quality control. All samples are analysed by Fire Assay with an Atomic Absorption (AA) finish using a 50g aliquot of pulverized material. Assays exceeding 3 g/t Au are re–assayed by Fire Assay with a Gravimetric Finish. Fokus inserts 3^rd party independent control reference samples and blank samples regularly in the sample stream to monitor assay performance. Fokus internal control samples represents approximately 10% of the total samples sent for assays. Fokus is planning to perform duplicate sampling at a certified secondary control laboratory. This press release was compiled and approved by Gilles Laverdière, P. Geo. and Qualified Person under National Instrument 43-101.

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 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 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 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: fokus.mining.com

The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the TSX Venture Exchange Policies) do not accept any responsibility for the truth or accuracy of its content.

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 Corporation

Jean Rainville, President & Chief Executive Officer, Tel.: [phone], Fax: [phone], Email: [email protected]

Related Links

http://fokusmining.com/