Focus Metals Reports 43-101 Mineral Resource Calculation for its Lake Knife, Quebec, Graphite Property
05 Diciembre 2011 - 6:26AM
Marketwired
Focus Metals Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC)
(the "Company") is pleased to report the results of the mineral
resource estimate for its 100% owned Lake Knife Project near
Fermont, Quebec.
The graphite mineral resource estimate was prepared by Edward
Lyons, P.Geo. and Guy Saucier, Eng., independent Qualified Persons
of Roche Ltd. ("Roche"). A Technical Report in compliance with
National Instrument NI 43-101 will be filed on SEDAR within 45 days
of this release. They have verified the information in this news
release.
Mineral Resource Estimation
The new mineral resource estimate is based on the 105 drill
holes (total 8,611 metres) drilled by Mazarin. Both the historical
and modern data were used. Five zones were interpreted and modeled
within the revised interpretation of the resource calculation. The
block model was developed using GEMS software by Gemcom. Blocks are
5 metres long, 7 metres wide and 5 metres high. A cut-off of 5% Cgr
(carbon as graphite) was used.
--------------------------------------------------------------
Category Tonnage Grade (%Cgr)
--------------------------------------------------------------
Measured 637,250 15.59
Indicated 4,334,890 15.68
Total (M+I) 4,972,140 15.67
Inferred 3,000,225 15.58
--------------------------------------------------------------
-- Measured and indicated resources totalling 4.97 million tonnes grading
15.67% Cgr.;
-- Inferred resources of 3 million tonnes grading 15.58% Cgr.;
-- Five different zones are included in the resource calculation; all zones
start from surface to a maximum depth of 125 metres with a total
extension of 350 metres by 650 metres; all zones remain open in all
directions; inferred resources can be upgraded to indicated resource
after completion of in-fill diamond drill holes.
-- Values displayed in this table are undiluted and "in-situ" as no
economic parameters, such as mining, milling or metallurgical recovery,
have been applied to these values, and therefore they demonstrate no
economic viability.
Interpolation Parameters
The inverse distance squared was used to interpolate the block
using 3-metres assay composites. Each zone had its search ellipse
parameters to interpolate the grade. The parameters were based on
the geological difference in the deposit model. A single value of
2.86 t/m3 density was used for all models. No capping value was
applied to the assays.
To report the resource and interpret the zones limits, a cut off
grade of 5% Cgr was used in the model.
To ensure a "reasonable prospect of economic extraction", a
Whittle optimized mining scenario was performed by Roche assuming
an overall pit slope of 45 degrees, an operating cost of $42.20 US
per tonne milled (including mining and milling costs), a 95% mining
recovery, a 5% mining dilution and a conservative selling price of
$1,600 US/tonne of concentrate. By comparing this Whittle shell to
the report resource, less than 2% of the tonnage fell outside of
the "Base Case" pit shell.
Classification
The classification of the resource was performed with three
different passes. The following constraints were placed on each
pass for the Measured, Indicated and Inferred Categories:
-- Measured: Blocks surrounding the drill holes in a 5 metres diameter
sphere. This category was only applied to zones (three out of five
zones) with good continuity and drilling spacing at 25 metres.
-- Indicated: An ellipse of 30 metres, 27 metres and 12.5 metres in the
main, major and minor axes, respectively, was used to select blocks
within the 25 metres by 25 metres drilling pattern. A minimum of 6
composites is required for this category.
-- Inferred: An ellipse of 80 metres, 75 metres and 37.5 metres in the
main, major and minor axes, respectively was used.
Twin Holes Campaign
In 2010 and 2011, in order to confirm the historical resources
and the validity of the data obtained in the 1980s, eleven (11)
twin drill holes were drilled. The 2010-2011 campaign was conducted
under the supervision of IOS Services Geoscientifiques. A strong
correlation was observed between the historical and the modern
holes. The geological interpretation has been revised by Edward
Lyons, P. Geo.
"This mineral resource estimate is a key milestone for Focus
Metals as it lays the groundwork for a scoping study in 2012," said
President and CEO, Gary Economo.
"This report validates our position that Focus Metals' Lac Knife
property holds the best grade of graphite in the world," said Gary
Economo. "It also establishes the regulatory benchmark for growth
and development of our extraordinary property."
Mr. Economo added: "We knew of Lac Knife's potential value from
the historic drilling results we inherited from its previous
owners, and it formed the basis for our
mine-to-market-to-technology business strategy."
Mr. Economo said an expanded, deeper and more comprehensive
drilling program is planned for the spring of 2012 to update this
initial resource estimate.
Mr. Tony Brisson, P. Geo., a Qualified Person as defined by NI
43-101 is responsible for the technical information contained in
this release.
About Focus Metals Inc.
Focus Metals Inc. is an emerging mid-tier junior mining company,
a technology solutions supplier and a business innovator. It is the
owner of the highest-grade (15.7%) technology graphite resource in
the world. The company's goal is to assume a dominant industry
leadership position by becoming the lowest-cost producer of
technology-grade graphite. As a technology-oriented enterprise with
a view to building long-term, sustainable shareholder value, Focus
Metals is invested in the development of graphene applications and
patents through Grafoid Inc.
Forward-Looking Statements
This News Release may contain or refer to "forward-looking
statements" which reflect Management's expectations regarding the
Company's future growth, results of operations, performance and
business prospects and opportunities. These statements reflect
Management's current beliefs at the time of this news release and
are based on information currently available to Management. All
statements other than statements of historical fact, included in
this release, including, without limitation, statements regarding
potential mineralization and reserves, exploration results, and
future plans and objectives of the Company, are forward-looking
statements that involve various risks and uncertainties. There can
be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from Management's expectations
are exploration risks detailed herein and from time to time in the
filings made by the Company with securities regulators. While the
Company anticipates that subsequent events and developments may
cause its views to change, it specifically disclaims any obligation
to update these forward-looking statements, except in accordance
with applicable securities laws. Accordingly, readers are advised
not to place undue reliance on forward-looking information.
Neither 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.
Contacts: Gary Economo, President and CEO Focus Metals Inc.
613-691-1091 ext. 101gary@focusmentals.cawww.focusmetals.ca
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