Minfocus Exploration Reports Significant Platinum Group Elements Grades from more Drill Core Intercepts and Trench Samples on its Nipigon Reefs Project

Posted Posted by Minfocus in PGE Supply-Demand News
Aug
7

August 7th, 2012 – Minfocus Exploration Corp. (TSX-V: 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 >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 >0.5g/t 3E

Results of Additional Sampling – Minfocus Nipigon Reefs Drill Core (>0.5 g/t 3E)

 

DDH #

From

(m)

Width (m)

3E

 (g/t)

Pt

 (g/t)

Pd

 (g/t)

Cu

(%)

Ni

 (%)

Cr

(%)

S

(%)

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

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 >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 >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 (>0.5 g/t 3E)

 

DDH #

From

(m)

Width (m)

3E

(g/t)

Pt

(g/t)

Pd

(g/t)

Cu

(%)

Ni

(%)

Cr

(%)

News Release Date Previously 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

End of Trench 4

3E

(g/t)

Pt

(g/t)

Pd

(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-V: BPC) (40% interest), Rainy Mountain Royalty Corp. (TSX-V: RMO) (30% interest) and Trillium North Mineral Ltd. (TSX-V: 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.

For further information please contact:

Gerald Harper
President & Chief Executive Officer
Phone: (416) 232-0025

 

The Qualified Person who has reviewed and approved the technical content contained in this release is Dr. Gerald Harper, P.Geo.(Ont).

Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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.