Focus Gold Corp.'s Wholly Owned Subsidiary, Focus Gold Mexico, Announces Potential Drill Targets on Its Huicicila Porphyry Project
(firmenpresse) - RENO, NV -- (Marketwire) -- 03/07/12 -- Focus Gold Corp. (or "Focus") (OTCQB: FGLD) (OTCBB: FGLD) is pleased to announce it has identified drill targets on both its porphyry disseminated project and its historic vein targets within the Huicicila project area in Nayarit, Mexico.
Within the porphyry area two initial drill targets have been identified based on encouraging channel samples. Highlights include:
These targets occur near the margin of the potasically altered diatreme breccia identified in earlier reconnaissance geologic mapping of the property. Other targets occur within the project area that are consistent with a porphyry gold-copper system.
Within the historic vein targets on the property, several drill targets have been identified based on sampling which disclosed encouraging results. Highlights include:
A) Samples HM-025 to HM-034: vein channel sample of 24 meters with 7.95 gpt Au and 200 ppm Cu. MIRAVALLES VEIN
B) Samples VCH-1 to VCH-2: vein channel sample of 4 meters with 5.1 gpt Au and 232 ppm Cu. LA CHABELA VEIN
C) Samples JP-01 TO JP 03: vein channel sample of 9 meters with 7.28 gpt Au and 233 ppm Cu. JALTEPEC VEIN
These vein sample widths are reported as they were taken. Although they were not taken across the vein and do not represent true width, rock chip sampling throughout the veins yields consistently anomalous results, with high grades reported up to 62 gpt Au, 2,000 gpt Ag and 5% Cu.
The historic veins have the following drill targets.
A) Drill Hole number 3 cut below the historic Miravalles vein and has 3.2 meters (true width) of 21 gpt Au and 120 gpt Ag, as well as a 1.2 meter interval of 62 gpt Au. Focus Gold plans to twin this hole to confirm the high grade and then continue to drill step-outs along the 1,500 meter strike length of this vein. Success in this program would likely add to the historic Indicated Resource of 45,000 ounces of Au.
B) At the Tres Estrellas vein, a 2 meter channel sample ran 12 gpt Au, 150 gpt Ag and 670 ppm Cu. Again, this sample is reported as taken and does not necessarily represent a true width. The vein has a strike length of 1000 meters and includes 50 meters of adit development. The proposed drill program would test for additional pockets of high grade mineralization within the strike of the vein.
C) At the San Francisco vein, chip samples of up to 22 gpt Au have been reported in a geological setting similar to the Miravalles Vein. The proposed drill program would test for continuous zones of high grade mineralization within the vein structure.
The initial drilling program will provide an initial test for the presence of porphyry style mineralization at depth and will provide confirmation of whether the high grade vein mineralization recognized to date has the potential to expand into a significant resource. Further vein exploration could be carried out, if warranted, from the refurbished underground workings at each of the veins.
Since Focus Gold's initiation of exploration activity in this region, several other mining companies have acquired ground near our project. Among them are the number one silver producer in the world Peñoles with two claims, the Chinese miner Sinotech|ZSDK and Tianjin BinHai Harbor Port Group Co., Ltd. This new activity reflects the international attention that this mining district is receiving. This is in addition to the already mining companies actually present in the area, several with multimillion ounce reserves.
Focus Gold acquires and develops gold mining projects around the world. Focus Gold's current projects include: multiple Nayarit, Mexico claims with a copper-gold porphyry system through the company's wholly owned subsidiary Focus Gold Mexico Corp.; two properties in the Timmins Mining District in Ontario, Canada through an option agreement with Victoria Gold; and the recently closed acquisition of Metallum Resources PLC, holder of exploration licenses in Northern Ireland, Republic of Ireland and Scotland through the company's wholly owned subsidiary, Focus Celtic Gold Corp.
For further information please visit:
Grant White
CEO
Tyler M. Troup
B.Comm
Email:
Website:
Toll Free: 1-866-865-2780
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Datum: 07.03.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 122598
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RENO, NV
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Mining & Metals
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