Toronto, Oct. 12, 2018 -
Minfocus Exploration Corp. (TSX-V: MFX) (“Minfocus” or “Company”) is pleased to announce that it has completed its initial exploration work program at the Round Pond Zinc Project in Newfoundland. Following the observations from this field visit to Round Pond, an additional 33 claims (1,575 ha) have been staked to the northeast and contiguous with the original 30 claims comprising the Round Pond Zinc Project. The expanded claims group offers an approximately 2-km extension from the main Round Pond showing, where most of the historic drilling is located, of prospective ground to test the evidence of the gentle NE dip of the host strata and of the middle limestone-upper dolostone (mineralized) contact. The additional prospective claims are on a scale comparable to the largest of the deposits seen at the historic Newfoundland Zinc Mine located at Daniel’s Harbour, which is hosted in the same carbonate sedimentary platform 140 km to the SSW of the Round Pond Zinc Project. Samples collected have now been submitted for analyses.
Round Pond Zinc Project
In 1970, Cominco identified “widespread zinc geochemical anomalies over a 13 square-mile [33.6 km2] area” with “the highest grade and greatest concentration of values ... in the vicinity of the Round Pond.” Subsequent drilling of the anomalies by Cominco reported extensive zinc mineralization with 59 of 82 drill holes intersecting visible sphalerite. The best holes found by Cominco included 22 feet (6.7 metres) grading 3.3% zinc and 10 feet (3.0 metres) grading 6.4% zinc. Following up on the Cominco work, Narex Ore Consultants completed a drill program in 1983 at Round Pond comprising 26 holes of just under 2,100 feet (640 metres) of drilling. The Narex drilling, combined with the previous Cominco work, indicated the presence of a “pod” of zinc mineralization of approximately 400,000 tons (364,000 tonnes) grading 2.0% zinc (a historic resource not NI43-101compliant). Based on the presence of “… sections of solution breccia together with minor sphalerite in many holes”, Narex suggested, “that several similar sized or larger ‘pods’ could well be found in the vicinity of Round Pond.”
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Figure 1. Two specimens of dolostone “crackle breccia” from Round Pond, with dolostone clasts in a cement of pale greenish, granular sphalerite, which often weathers out and stands proud of the carbonate host rock. In most samples, other sulphides such as galena, pyrite and marcasite appear to be absent, or subordinate to sphalerite.
Mississippi-Valley-Type Deposits in Newfoundland
Minfocus continues to target Mississippi-Valley-Type (“MVT”) carbonate-hosted zinc and lead deposits. These MVT deposits, compared to other types of zinc deposits (Sedex and VMS), are typically metallurgically simpler to process and are the source of the higher quality zinc concentrates that are preferred by custom zinc smelters due to the exceptionally pure high-grade zinc concentrates produced (up to 63% zinc in concentrates and low-iron with minor impurities).
In 1975, Teck started commercial production at the Newfoundland Zinc Mines from an initial proven deposit with 4.45 million tons of 8.78% zinc ore. The ore was exposed at the surface and was accessed by open pits and inclined ramps which combined to result in an initial low-cost 1,500 ton per day mining and milling operation that operated until 1990 after producing a total of 7.22 million tons of ore averaging 7.93% zinc over the life of the Newfoundland Zinc Mine.
Figure 2. Westward view, on the north side of the principal stripped showing at Round Pond, showing a metre-scale block of sphalerite-bearing, brecciated dolostone. Evidence of zinc mineralization is widespread on the property.
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About Minfocus Exploration Corp.
Minfocus Exploration Corp. is a Canadian company currently advancing a portfolio of base-metal projects including three Mississippi-Valley-Type zinc projects in British Columbia and Newfoundland and a Platinum Group Element (“PGE”)–enriched Ni-Cu-Pt-Pd project in N.W. Ontario. Minfocus has a successful management group with a record of multiple discoveries of deposits worldwide, including gold and uranium deposits in Mongolia and PGE-rich resources in Ontario, including the discovery of the first platinum-rich Ni-Cu-Pt-Pd deposit in the Midcontinent Rift, the Current Lake deposit.
The Qualified Person who has reviewed and approved the technical content contained in this release is Dr. Graham C. Wilson, P.Geo.(Ont), a director of Minfocus.
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.
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Source:
Minfocus Exploration Corp. (TSX Venture:MFX)
