Focus Gold Corp. Releases New Competent Persons Report Prepared by SRK Consulting Stating Further Confirmation of a Potential Porphyry Copper-Gold System
(firmenpresse) - RENO, NV -- (Marketwire) -- 09/19/11 -- Focus Gold Corp. (OTCBB: FGLD), or (the "Company") has released a new Competent Persons Technical Report (the "CPR") on its Focus Gold Mexico Corp. ("FGM") properties (the "Properties") in Huicicila, Mexico. This report provides an additional independent technical opinion of Focus' Mexican properties and incorporates the results of our recent geologic work. The report further supports the potential porphyry deposit opinion of Carl Nelson's 43-101 technical standards report which we released on June 1, 2011 (). The CPR was prepared by SRK Consulting, an independent, international resource consulting practice with over 40 offices on 6 continents, and is one of the most widely used firms by the world's largest resource companies.
Grant White, CEO of Focus, commented, "This new independent report by a world leading independent mining consultancy further confirms the potential presence of a sizable gold-copper porphyry system in Mexico. As we've stated in previous releases and furthered in the Ubika research note on June 8th, 2011 (). A potential porphyry gold-copper system on these properties would be much more valuable to the Company compared to previous geological models of a smaller more localized vein system. Porphyries of this potential size and scale, once developed, have historically been acquired for, or have publicly traded in the markets for values ranging from hundreds of millions to upwards of $1 billion+."
Mr. White went on to comment on the significance of this report with respect to the next steps in advancing these promising properties, "As suggested by this comprehensive report we have identified several drill targets and intend to launch a drill program in late autumn, after the rainy season, directed by David Cadwell the Company's newly retained project manager of Mexican operations. This drill program will be instrumental in the development of a potential economic resource as well as shareholder value creation."
Over the coming days and weeks the Company's management will review the content and suggestions of this report, in conjunction with the strategic plan of the Company and its subsidiaries, and will provide guidance to shareholders with regard to Company development plans as well as any pertinent technical analyses for further clarification.
The entire SRK Report is now available on our website at and should be read in its entirety.
SRK Consulting is an independent, international consulting practice that provides focused advice and solutions to clients, mainly from earth and water resource industries. For mining projects, SRK offers services from exploration through feasibility, mine planning, and production to mine closure. Formed in 1974, . The Group's independence is ensured by the fact that it is strictly a consultancy organization, holding no equity in any project, and with ownership primarily by staff. This permits our consultants to provide clients with conflict-free and objective support on crucial issues. Among SRK's clients are most of the world's major and medium-sized metal and industrial mineral mining houses, exploration companies, banks, petroleum exploration companies, construction firms and government departments.
Focus Gold acquires and develops gold mining projects around the world. Focus Gold's current projects include the multiple Nayarit claims with a copper-gold porphyry system in Mexico through the company's wholly owned subsidiary Focus Gold Mexico Corp., two properties in the Timmins Mining District in Canada through an option agreement with Victoria Gold, and the pending 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 Corporation. For further information please visit .
Focus Gold Corporation
Grant White
CEO
(416) 593-8034 ext. 2115
Investor Relations:
Desert Son
(623) 465-0844
Small Cap Power
Mark Thorburn
(416) 646-1941
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Datum: 19.09.2011 - 09:59 Uhr
Sprache: Deutsch
News-ID 66928
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