Minfocus Exploration Reports Highest Grade PGE Intercept Sampled to Date from Drill Hole WM12-37 on Its Nipigon Reefs Project
11 Giugno 2012 - 2:00PM
Marketwired Canada
Minfocus Exploration Corp. (TSX VENTURE:MFX) ("Minfocus") is pleased to announce
that additional sampling of drill core from hole WM12-37 has located an
additional 3.0 metre core length grading 1.85 g/t 3E (3E=Pt+Pd+Au assays) plus
0.14% copper and 0.17% nickel. WM12-37 is one of four drill holes recently
completed by Minfocus on the Seagull North claims which comprises part of its
Nipigon Reefs project, which is road accessible only 80 km north of Thunder Bay,
Ontario, and 15 km north of the nearby Current Lake PGE deposit (+700,000 oz
Pt-Eq).
WM12-37 Drill Core - Additional Sampling Results (greater than 0.5 g/t 3E)
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DDH # From To Width Pt Pd 3E Pt:Pd Cu Ni
(m) (m) (m) (g/t) (g/t) (g/t) (%) (%)
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WM12-37 322.0 325.0 3.0 0.83 0.96 1.85 0.86 0.14 0.17
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Including 322.0 324.0 2.0 0.95 1.11 2.12 0.86 0.15 0.18
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WM12-37 Drill Core - Previously Reported Results (greater than 0.5 g/t 3E)
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DDH # From To Width Pt Pd 3E Pt:Pd Cu Ni
(m) (m) (m) (g/t) (g/t) (g/t) (%) (%)
----------------------------------------------------------------------------
WM12-37 334.0 337.0 3.0 0.29 0.32 0.63 0.90 0.04 0.14
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3E = Pt + Pd + Au assays (g/t) g/t=g/tonne
The samples were analysed by Activation Laboratories Ltd. in Thunder Bay,
Ontario.
This new additional anomalous platinum group element (PGE) intercept in hole
WM12-37 aligns with PGE intercepts in nearby adjacent historic holes and further
demonstrates continuity and extension of mineralisation up-dip towards surface
within the mafic-ultramafic complex of intrusive rocks within the Nipigon Reefs
project area.
Hole WM12-37 is a vertical hole that was drilled north of and up-dip from
historic holes WM06-25 and WM01-09. They were both vertical holes and reportedly
collared 80 metres and 160 metres south respectively from WM12-37. Hole WM06-25
intersected 2 metres from 402.0m grading 1.34 g/t Pt and 1.69 g/t Pd with 0.43%
Cu and 0.25% Ni. Hole WM01-09 intersected 1.75m from 545.0m grading 1.14 g/t Pt
and 1.10 g/t Pd with 0.17% Cu and 0.27% Ni. The results for these historic drill
holes have been quoted from the drill logs and assay certificates filed with the
Ontario Government for mineral claim assessment work and there can be no
assurance that the results or reporting comply with standards established under
National Instrument 43-101 even though such NI 43-101 was in effect in 2001 and
2006, the periods when the holes were drilled.
This high PGE interval in hole WM12-37 was detected during a follow-up program
of additional sampling of the core from this hole that was reported as planned
by Minfocus in its press release dated April 4th, 2012. Minfocus plans
additional sampling of more drill holes based on correlations of geologic,
geochemical and magnetic core characteristics, as several more holes in the
vicinity have not been assayed at the depths projected to host the PGE
mineralisation. The mineralisation is not accompanied by increased volume of
sulphide minerals, generally, and therefore is extremely difficult to identify.
Sampling will include the other three drill holes completed by Minfocus in its
recent 2012 winter drill program, plus some historic drill holes drilled by
previous operators on the Seagull North claims.
The Seagull North claims were optioned in February 2011 from their joint owners,
Black Panther Mining Corp. (TSX VENTURE:BPC) (40% interest), Rainy Mountain
Royalty Corp. (TSX VENTURE:RMO) (30% interest) and Trillium North Mineral Ltd.
(TSX VENTURE:TNM) (30% interest). Under the Option Agreement, Minfocus is to
incur exploration expenditures on the Seagull North claims exceeding $250,000 in
each year of the 4 year initial option term. The exploration work successfully
completed to date has exceeded the minimum exploration work commitment of
$250,000 required to be expended prior to April 30, 2012.
About Minfocus Exploration Corp.
Minfocus Exploration Corp. is a Canadian company currently focused on the
continued growth of a portfolio of Platinum Group Element ("PGE") rich resource
assets through exploration, acquisitions and joint ventures in Northwest
Ontario, Canada, which is one of the most stable mining districts in the world
with global class PGE deposits. Minfocus has a distinguished management group
with a record of multiple discoveries of deposits worldwide, and more than 15
years experience and success exploring for PGE-rich resources in Ontario,
including the discovery of the first Platinum-rich PGE deposit, the Magma
Metals' Current Lake deposit (+700,000 oz Pt-Eq). The Minfocus management group
also has extensive strength and success in corporate development, M&A and
project development, which together with its technical prowess is aimed at
delivering growth in shareholder value through a balanced strategic approach.
The Qualified Person who has reviewed and approved the technical content
contained in this release is Dr. Gerald Harper, P.Geo.(Ont).
To view the map associated with this press release, please visit the following
link: http://media3.marketwire.com/docs/MFX1106_Location_Map.pdf.
This press release includes certain forward-looking statements concerning the
future performance of the Company's business and operations as well as
management's objectives, strategies, beliefs and intentions. Forward-looking
statements are often identifiable by the use of words such as "may", "will",
"might", "would", "plan", "believe", "expect", "anticipate", "intend",
"estimate", "scheduled", "forecasts" and similar expressions or variations
(including negative variations) of such words and phrases. Forward-looking
statements are based on the current opinions and expectations of management, and
are subject to a number of risks and uncertainties that may cause actual
results, performance or achievements of the Company to be materially different
from those currently anticipated by such statements. Factors that could cause
actual results or events to differ materially from current expectations include,
among other things, the possibility that future exploration results will not be
consistent with the Company's expectations, fluctuating commodity prices, delays
in commencing the Company's proposed drilling program, exploration costs varying
significantly from estimates, the availability of financing, and other risks
identified in the Company's documents filed with the Canadian securities
regulatory authorities at www.sedar.com. Any forward-looking statement speaks
only of the date on which it is made, and except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement.
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