12:10 PM EST, 11/26/2024 (MT Newswires) -- Fokus Mining ( FKMCF ) on Tuesday said it launched its 2024-2025 exploration program on the Galloway Property in Quebec, looking to expand resources on the GP-RB and Hendrick Zones, conduct geophysical surveys, and explore new targets.

The company has already identified a significant gold resource on the property, with 1.42-million inferred ounces of gold at a price of US$1,750 per ounce.

The exploration program will focus on drilling and geophysical surveys to further define the mineralization on the property.

"This is an exciting period for Fokus Mining Corporation ( FKMCF ) as we work to unlock the full exploration potential of the Galloway Property and deliver value for our shareholders," said chief executive Philippe MacKay. "We plan to commence a 1,800 metre drill program imminently and initiate a geophysical program in early Q1 2025 on the Hendrick Deposit. We believe that the Galloway Project is a remarkable opportunity, particularly as major mining companies increasingly seek deposits like ours in safe jurisdictions."

Fokus shares were last seen up $0.005 to $0.15 on the TSX Venture Exchange.

Price: 0.15, Change: +0.01, Percent Change: +3.45