Minfocus Exploration Reports Significant Platinum Group Elements Grades From More Drill Core Intercepts and Trench Samples on...
07 Agosto 2012 - 4:29PM
Marketwired Canada
Minfocus Exploration Corp. (TSX VENTURE:MFX) ("Minfocus") is pleased to announce
that ongoing sampling of drill core from holes WM12-34 to WM12-37 has returned
additional significant intercepts with lengths up to 5.0 metres long with
Platinum Group Elements ("PGE") grades up to 2.47 g/t 3E (3E=Pt+Pd+Au assays).
In addition, Minfocus has received assay results from pit samples with PGE
grades up to 1.92 g/t 3E taken from historic trenches within the Seagull North
claims.
The additionally sampled drill holes were drilled during the recently completed
program in March 2012 on the Seagull North claims, which comprises part of
Minfocus' 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) now owned by Panoramic Resources of Australia.
Drill Core Sampling Results
The assays of the additional intervals of core from four holes (WM12-34 to
WM12-37) revealed the intersections shown in the table below with 3E values
(combined platinum, palladium and gold) of greater than 0.5 grams per tonne and
an average ratio of Pt:Pd of 1.0. The results of this additional sampling,
combined with earlier results reported, has now identified PGE intercepts in all
four drill holes from the March 2012 program and confirms the existence of
multiple significant PGE mineralized layers with drill core interval lengths up
to 5.0 metres thick and greater than 0.5 g/t 3E.
Results of Additional Sampling - Minfocus Nipigon Reefs Drill Core (greater than
0.5 g/t 3E)
----------------------------------------------------------------------------
From Width 3E Pt Pd Cu Ni Cr S
DDH # (m) (m) (g/t) (g/t) (g/t) (%) (%) (%) (%)
============================================================================
WM12-34 400.0 1.0 0.55 0.27 0.28 0.04 0.14 0.38 0.18
============================================================================
WM12-35 351.3 2.0 0.61 0.29 0.32 0.01 0.14 0.29 0.23
============================================================================
WM12-36 293.0 3.0 1.80 0.83 0.91 0.19 0.19 0.45 0.46
----------------------------------------------------------------------------
Including 294.0 2.0 2.47 1.14 1.24 0.26 0.21 0.46 0.57
----------------------------------------------------------------------------
WM12-36 306.0 5.0 0.84 0.41 0.39 0.03 0.14 0.42 0.20
----------------------------------------------------------------------------
Including 309.0 2.0 1.36 0.68 0.65 0.06 0.17 0.48 0.25
----------------------------------------------------------------------------
less than
WM12-36 315.0 2.0 0.58 0.25 0.31 0.01 0.09 0.39 0.16
============================================================================
WM12-37 313.0 1.0 0.62 0.41 0.20 0.02 0.04 0.11 0.11
----------------------------------------------------------------------------
WM12-37 320.0 5.0 1.28 0.58 0.66 0.08 0.15 0.30 0.37
----------------------------------------------------------------------------
Including 322.0 2.0 2.12 0.95 1.11 0.15 0.18 0.27 0.60
============================================================================
3E = Pt + Pd + Au assays(g/t); g/t=grams per tonne.
The samples were analysed by Activation Laboratories Ltd. in Thunder Bay,
Ontario.
These newly identified lengthy PGE intercepts in holes WM12-34 to WM12-37 align
with PGE intercepts in nearby adjacent historic drill holes and demonstrate
continuity and extension of mineralisation up-dip towards surface within the
mafic-ultramafic complex of intrusive rocks within the Nipigon Reefs project
area. Details of the relevant nearby adjacent historic drill holes have been
described in the previous Minfocus new releases (April 4, 2012 and June 11,
2012).
As shown below, the previously reported assays of initial sampling from the four
drill holes (WM12-34 to WM12-37), first reported on April 4, 2012, only
identified intercepts with greater than 0.5 g/t 3E in holes WM12-35 and WM12-37.
Also, in WM12-37, the initial core sampling was limited to the 3.0 metre
intercept reported as starting at 334.0m. Subsequently, Minfocus reported on
further sampling of WM12-37 that identified an additional interval with greater
than 0.5 g/t 3E of 3.0 metres found at 322.0m (June 11, 2012). Details of all
intervals sampled for all holes will be provided on Minfocus' website.
Previously Reported Results - Drill Core (greater than 0.5 g/t 3E)
----------------------------------------------------------------------------
News Release
From Width 3E Pt Pd Cu Ni Cr Date Previously
DDH # (m) (m) (g/t) (g/t) (g/t) (%) (%) (%) Reported
----------------------------------------------------------------------------
WM12-35 352.3 1.0 0.78 0.36 0.42 0.02 0.14 0.32 April 4/12
----------------------------------------------------------------------------
WM12-35 372.8 0.4 1.47 0.69 0.78 0.02 0.21 0.29 April 4/12
----------------------------------------------------------------------------
WM12-37 322.0 3.0 1.85 0.83 0.96 0.14 0.17 0.27 June 11/12
----------------------------------------------------------------------------
Including 322.0 2.0 2.12 0.96 1.11 0.15 0.18 0.27 June 11/12
----------------------------------------------------------------------------
WM12-37 334.0 3.0 0.63 0.29 0.32 0.04 0.14 0.27 April 4/12
----------------------------------------------------------------------------
3E = Pt + Pd + Au assays (g/t); g/t=grams per tonne.
The samples were analysed by Activation Laboratories Ltd. in Thunder Bay,
Ontario.
Surface Sampling Results
In addition to the above drill results, surface mapping in the Seagull North
claims has located six historic trenches, which are in the area south and west
of the recent drill holes by Minfocus. Preliminary sampling of Trench No. 4 has
yielded values up to 1.92 g/t 3E. This largely overgrown trench had four pits
dug in the bottom of the trench to extract 0.8 - 2.0 kilogram samples of the
weathered bedrock at the intervals shown below. Trench 4 is approximately 90m
long and 2m deep but overgrown and somewhat slumped in from surface wash. The
sampling pits were dug 0.5m deep to eliminate sample contamination by recent
washed in material.
Pit Sampling Results - Trench No. 4
----------------------------------------------------
Length from South 3E Pt Pd
End of Trench 4 (g/t) (g/t) (g/t)
----------------------------------------------------
0.0 metres 1.92 1.00 0.92
----------------------------------------------------
25.0 metres 0.25 0.18 0.07
----------------------------------------------------
50.0 metres 0.26 0.17 0.09
----------------------------------------------------
75.0 metres 1.68 0.84 0.84
----------------------------------------------------
3E = Pt + Pd + Au assays (g/t); g/t=grams per tonne.
The samples were analysed by Activation Laboratories Ltd. in Thunder Bay,
Ontario.
The pit sampling results above have confirmed historically reported significant
PGE mineralization at surface. Additional sampling is in progress as well as
auger holes to the weathered bedrock around Trench 4 and Trench 3 to better
determine the extent and orientation of this surface PGE mineralization. The
historic results from Trench 3, more than 200 metres from Trench 4, also
reported anomalous PGE values. Gerald Harper, President of Minfocus noted that,
"If the mineralisation is continuous between Trenches 3 and 4 and dips southerly
as suggested by the old records, then it represents a new PGE zone, not
identified in previous drilling, exposed at surface over a substantial strike
length."
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.
About Minfocus Exploration Corp. (www.minfocus.com)
Minfocus Exploration Corp. is a Canadian company currently focused on the 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 considerable
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).
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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