Fokus Mining drilling magnetic target at Galloway gold project, Quebec
Fokus Mining Corp. [FKM-TSXV; F7E1-FSE] has begun 1,500 metres of exploration drilling to test a large magnetic anomaly detected during the last high-resolution airborne magnetic survey at the 100%-optioned Galloway gold project located 25 km west of Rouyn-Noranda, Quebec.
Following the results of this survey conducted by Novatem Inc., a large magnetic anomaly offering some similarity to the magnetic anomaly associated with the Hendrick zone located approximately 1 km to the west, has been identified under the cobalt sediments. The planned drilling of approximately 1,500 metres is intended to test for the presence of a mineralized and altered syenite in this area. This could provide a significant lateral extension to the Hendrick zone.
Jean Rainville, president and CEO, stated: “The primary control of gold mineralization in the Hendrick zone appears to be associated with a mineralized and altered syenite intrusive. We believe that this new anomaly may be associated with another intrusive with the same characteristics and that may host gold-copper mineralization, similar to the one found at Hendrick. We are still waiting for results from approximately 20 holes, including a dozen from the Hendrick zone. All of the holes drilled on Hendrick have intersected the geology and mineralization we are looking for. Despite the assay results delays, we remain very confident and positive about the value and gold and copper potential of this project.”
At this time, the company is focusing its energies on the validation and three-dimensional interpretation of the geological and drilling data as well as on other work required to complete an initial NI 43-101 compliant resource estimate associated with the Moriss, GP and Hendrick zones. The company expects to receive the conclusions of this report in Q2 2022. To date, Fokus has completed more than 30,000 metres of its continuing drilling program.
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.