Fokus Mining (TSXV: FKM; OTC: FKMCF; FSE: FYE1) has released its first resource estimate for its Galloway gold project that contains approximately 1.4 million oz. of gold. The project is located along the Cadillac-Larder Lake fault in Quebec.
Having completed more than 40,000 metres of diamond drilling in the last two years, the company puts the inferred resource at 41.2 million tonnes grading 1.98 g/t gold and containing 1.4 million oz.
The total includes the Hendrick zone (38.0 million tonnes at 21.06 g/t), the GP zone (1.4 million tonnes at 0.98 g/t), the RB zone (1.2 million tonnes at 0.96 g/t), the Hurd zone (87,000 tonnes at 1.0 g/t), and the Moriss zone (514,000 tonnes at 2.74 g/t). A cut-off of 0.90 g/t gold was used in the estimate.
Fokus president and CEO Jean Rainville said most of the inferred resource could be mined from underground, but there are also open pit opportunities at the GP, RB and Hurd zones. He also said infill holes will be drilled to test the potential lateral and at-depth extensions of those zones.
A preliminary economic assessment is to be released next year.Learn more at www.FokusMining.com.
There is an error in your report. The Hendrick zone is reported to include 38.0 million tonnes at 1.06 g/t Au – NOT – 21.06 g/t. Please compare to company disclosure.. You guys had me going there for a bit!