Junior explorer Focus Metals (CVE:FMS) and partner Soquem announced Tuesday significant rare earth element (REE) drill results from their fall 2011 core drill program at the Kwyjibo property, located in northeastern Quebec.
The most significant results were intersected on the Josette horizon
in hole 10885-11-57, which hit 2.4 percent total rare earth oxides
(TREO) over 48.8 metres, and included 3.4 percent TREO over 24.3 metres,
and 6.83 percent TREO over 1.1 metres.
The drill program, which took place between September and November,
comprised 12 holes totaling 2,064 metres. The program was intended to
test various anomalies and extensions on the Gabriel, Grabuge, Josette,
and Andradite showings.
Other notable results, also from the Josette showing, included hole
10885-11-56, which intersected 1.8 percent TREO over 32.5 metres,
including 5.88 percent TREO over one metre.
In addition, hole 10885-11-58 hit 1.64 percent TREO over 20.6 metres,
including 0.8 metres grading 7.05 percent TREO, while hole 10885-11-60
returned 33.1 metres grading 3.61 percent TREO, including 8.68 percent
TREO over one metre.
The Kwyjibo property consists of 118 mining titles, and covers 6,278
hectares. Located a few kilometres north of Manitou Lake in Quebec, the
project is a joint venture between Focus and Soquem.
Under the terms of the option agreement, which was signed in August
2010, Focus may acquire a 50 percent interest in the property by
spending up to $3.0 million in exploration work over five years, of
which $1.0 million must be spent in the first two years.
Soquem is acting as the operator for all exploration work during the
first two years. Following that time, Focus will have the option to
become operator by paying $50,000 in cash, or by issuing $50,000-worth
in its common stock.
As of December 31, 2011, Focus had spent about $2.6 million on the Kwyjibo project.
Looking forward, Focus and Soquem said they are working on the design
of a two-phase follow-up exploration program for the property, expected
to start this summer.
Phase one of the program, which is expected to take place between
mid-June and mid-July, will include line cutting on the western part of
the property, a ground time-domain electromagnetic geophysical survey, a
borehole Pulse-EM geophysical survey, and a mini bulk sampling for
The second phase of the campaign, which is expected to run from
mid-July to mid-September, will include a 4,000-metre core drill
Focus said it expects to consider an NI 43-101 compliant resource estimate following the results of this program.