VANCOUVER, BC / ACCESSWIRE / September 11, 2020 / Minfocus Exploration Corp. (TSXV:MFX) ("Minfocus" or the "Company") is pleased to announce that Richard L. Bedell has joined the Company's Technical Advisory Board.
Mr. Bedell is a geologist with nearly 40 years of experience in international mineral exploration and mine-finding, with a strong geologic focus in Nevada, USA. Most recently, he was co-founder, Director, Technical Consultant, and past President of Renaissance Gold Inc., an exploration company focused on the Great Basin, which merged recently with EVRIM Resources Corp. to create Orogen Royalties Inc. Prior to Renaissance Gold, Mr. Bedell co-founded AuEx Ventures Inc. ("AuEx"), serving as Director and Executive Vice President while AuEx conducted its successful exploration on the Long Canyon Deposit in Nevada, ultimately merging with Fronteer Gold Inc. Mr. Bedell was a senior geologist with Homestake Mining Company's global target selection team, and also worked with majors, including BP Minerals and Rio Tinto.
Mr. Bedell is a recognized expert in remote sensing and geo-spatial technologies and held an adjunct faculty position in Exploration Geophysics at the Mackay School of Earth Sciences & Engineering, University Nevada, Reno. He currently advises NASA's Jet Propulsion Lab in developing the next generation of Earth-observing satellites and has worked for the European Space Agency on geologic applications of radar.
Mr. Bedell graduated with a B.A. from the School of Natural Science, in Sciences & Mathematics, Hampshire College, holds a Master of Science in Economic Geology from the University of Toronto and a Master of Science degree in Remote Sensing and GIS from the University of London, UK. Mr. Bedell is a Certified Professional Geologist (CPG) with the Society for Mining, Metallurgy, and Exploration and is also a Fellow of the Society of Economic Geologists, a member of the American Exploration and Mining Association and the Geological Society of America, as well as a founding member of the Geologic Remote Sensing Group. He is a past President and Director of the Geological Society of Nevada and past board member of the Society of Economic Geologists Foundation.
Mr. Bedell stated, "I am very pleased to be working on the Nevada Rose Project with Minfocus's motivated and experienced team. Their fresh technical approach and expertise in carbonate exploration is adding significant new insight into the project. My experience in Nevada geology complements the team's skill set as does my familiarity with the project, which I first visited as part of a regional sampling program during my time with Homestake".
Alicia Milne, President and CEO of Minfocus commented, "At AuEx, as a cofounder Richard was part of the team that reinterpreted the geology that resulted in highly material initial drilling results at Long Canyon, subsequently acquired and incorporated for development by Newmont. Richard was also President of Renaissance Gold when acquisition of the Silicon Project occurred and led to the exciting new discovery near Beatty Nevada that resulted in a recent purchase by Anglo-Gold Ashanti for cash and royalty. We are excited to welcome someone of Richard's calibre and with unmatched technical expertise in Nevada gold exploration to our Technical Advisory Board."
Nevada Rose Project Update
The Nevada Rose Project is situated about 145 kilometres (km) SSE of Carlin, NV and roughly 370 km NNE of Las Vegas, NV, towards the southerly intersection of the Battle Mountain-Eureka and Independence-Eureka Trends, approximately 12 km SW of the Ruby Hill mining district near Eureka City. Minfocus is targeting a precious-metals system striking over a one-kilometre length on the edge of the pediment, which comprises previously identified silver-rich zones within a larger zoned precious metal system. The host rock is a sequence of Silurian dolostone overlain by Devonian limestones that dips gently east toward pediment cover.
Regional mapping by Homestake Mining in the 1990s identified aerially extensive bedded and high-angled (structurally emplaced) jasperoid. These 79 samples averaged 180 grams per tonne (g/t) silver (5.2 ounces per tonne (oz/t) Ag) with no appreciable gold and with individual assays of up to 2,050 g/t silver (60 oz/t Ag). Zones of zebra-textured dolomite associated with dissolution collapse breccia carry more than 30 g/t (over one oz/t) Ag suggesting targets that should yield thicker zones containing multiple ounces of silver when the core jasperoid is added.
Anomalous gold mineralization has, in addition, been identified in two locations on the Nevada Rose property. Multiple samples from a bleached zone 200 m wide dipping under the pediment, returned over 100 parts per billion (ppb) gold. More recent work showed a strong gold zonation toward the pediment coincident with high zinc values. A shear zone on the edge of the pediment assayed at 0.58 g/t Au (0.02 oz/t Au) and 380 g/t Ag (11 oz/t Ag). In 2007, a reverse circulation (RC) drill program in the zone by Piedmont Mining intercepted six metres (20 feet) of 0.91 g/t Au and 3.4 g/t Ag. Another RC drill hole in the same zone intercepted 44 metres (144 feet) of 0.26 g/t Au and 3.1 g/t Ag. Mineralization in the latter RC drill hole remains open. A second zone approximately 850 metres to the north produced a gold assay of 0.4 g/t. Historic data indicate the presence of a mineralizing system with disseminated gold in addition to the multi-ounce silver showings that dominate the property near surface.
The Nevada Rose has not been the subject of recent systematic exploration and past work had not evaluated the identified targets near to the historic workings or the areas of jasperoid which host bonanza grade silver. Minfocus plans to undertake a compilation and evaluation of regional and historic data.
Potential drill targets include the intersection of bedded and steeply emplaced structural jasperoids running multi-ounce silver as well as collapse breccias running multi-ounce silver. The lower-grade anomalous gold zones, with multiple samples running hundreds of ppb gold, also require further testing. The shallow dip of surrounding rock units may indicate favourable host rock units at modest depths.
Grant of Stock Options
Pursuant to its stock option plan and subject to the approval of the TSX Venture Exchange, Minfocus has granted stock options to directors, officers and consultants of the Company to purchase an aggregate of 1,304,286 common shares in the capital of the Company at an exercise price of $0.07 per share until September 10, 2025.
About Minfocus Exploration Corp.
Minfocus is a Canadian mineral exploration company currently advancing a portfolio of North American precious and base metals projects, including precious metals in Nevada, USA and three Mississippi Valley-type zinc projects in B.C. and Newfoundland, Canada. Minfocus is led by a highly experienced technical team with a track record of successful exploration worldwide.
FOR FURTHER INFORMATION PLEASE CONTACT:
Alicia Milne, President and Director
Telephone: 1 (800) 482-7560
The qualified person who has reviewed and approved the technical content contained in this release is Dr. Graham C. Wilson, P.Geo (Ontario), a Director of the Company.
This news release may include certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of MInfocus are forward-looking statements that involve various risks and uncertainties. Although MInfocus believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on MInfocus and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Minfocus Exploration Corp.