MFX Minfocus Exploration Corp

Minfocus Exploration Corp. (TSX VENTURE:MFX) ("Minfocus") has received
additional assay results from its recently completed program of diamond drilling
on the Chief Peter Property, which confirmed near surface sample intervals of
4.0 to 5.0 meters with greater than 2.0 g/tonne combined Platinum and Palladium
and greater than 0.50% copper. The Chief Peter Property, under option by
Minfocus to earn a 100% interest, is located in Northwest Ontario very close to
the Provincial Highway No. 11, powerlines and the parallel CN rail line between
Thunder Bay and Atikokan.


Minfocus President, Gerald Harper, observed, "I am very encouraged by the grade
of these initial platinum and palladium results that show the consistency of
grade of the zone from surface to a depth of 50 metres, as well as, the
favourable ratio of platinum to palladium exhibited by all the sampling.


The recently completed 750 metre diamond drilling programme comprised six holes
in three fences at 100 metre spacing, the first four of which intersected a
gabbro body with disseminated chalcopyrite and pyrrhotite. Assay results have
been received for all sample intervals taken for holes CP13-01 and CP13-02.
Sample intervals with grades greater than 1.0 gram per tonne 3E (platinum +
palladium + gold) are:




Chief Peter Sample Interval Assay Results (greater than 1.0 g/tonne 3E)     
----------------------------------------------------------------------------
Hole #                     Core                                             
            From     To  Length      3E      Pt      Pd     Au     Cu     Ni
             (m)    (m)     (m)   (g/t)   (g/t)   (g/t)  (g/t)      %      %
----------------------------------------------------------------------------
CP13-01    41.10  45.10    4.00    2.39    1.06    1.27   0.06   0.54   0.22
----------------------------------------------------------------------------
CP13-02    48.96  53.96    5.00    2.34    1.20    1.08   0.06   0.61   0.14
----------------------------------------------------------------------------
3E = (Pt + Pd + Au); g/t=grams per tonne; All samples were analysed by      
Activation Laboratories Ltd., Thunder Bay, Ontario                          



Hole CP13-01 was drilled at a dip angle of -42 degrees at an azimuth of 145
degrees. Hole CP13-02 was drilled from the same collar position in the same
direction at a dip of -53 degrees. The lengths of intervals reported are core
lengths not true widths of the mineralized zone. Lower grade mineralization was
encountered either side of the reported intervals, to the limits of the width of
the gabbro zone in the core. Assay results are awaited for the other drill
holes.


These holes, CP13-01 and CP13-02, were drilled underneath an historic trench
which was resampled in 2011 by Minfocus by sawn channel sampling. The resampling
of this trench yielded:




Chief Peter Trench 2011 Sampling (greater than 1.0 g/tonne 3E)              
----------------------------------------------------------------------------
Trench No. Length (m)   3E (g/t)   Pt (g/t)  Pd (g/t)  Au (g/t)   Cu %  Ni %
----------------------------------------------------------------------------
Six              3.00       2.15       0.82      1.24      0.09   0.58  0.13
----------------------------------------------------------------------------
Sample intervals with grades greater than 1.0 gram per tonne 3E             



One end of the channel sampled was limited by the outcrop dropping off into
swamp and preventing further sampling across the zone of mineralized outcrop.


In the summer of 2011, Minfocus undertook reconnaissance on the Chief Peter
property and relocated historic pits and trenches at the prospect now referred
to as Chief Peter Central. That work confirmed the historic records of the
existence of elevated platinum and palladium values associated with copper and
nickel mineralisation. For further details on the Chief Peter PGE Property, see
the company website at http://minfocus.com/projects/chief-peter/.


The Chief Peter property is under option to Minfocus whereby the company may
earn 100% interest in the property upon making payments over a four year option
period to the Optionors totaling $140,000 cash and issuing 300,000 Minfocus
shares, plus completing $200,800 in exploration expenditures on the property,
which is composed of minimum work expenditures in each respective year of
$20,800, $45,000, $45,000 and $90,000. Upon earning its 100% interest in the
Chief Peter Property, the Optionors will be granted a 3% NSR, which may be
reduced to a 1% NSR by Minfocus making a payment of $500,000 for each 0.5% NSR
purchased back by Minfocus.


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 of experience and success exploring for PGE-rich resources in Ontario,
including the discovery of the first Platinum-rich PGE deposit, the Panoramic
Resources' Current Lake deposit (+790,000 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).


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Minfocus Exploration Corp.
Gerald Harper
President & Chief Executive Officer
(416) 232-0025
www.minfocus.com

Grafico Azioni Minfocus Exploration (TSXV:MFX)
Storico
Da Nov 2024 a Dic 2024

Grafico Azioni Minfocus Exploration (TSXV:MFX)
Storico
Da Dic 2023 a Dic 2024