Thursday, 15 March 2012

Focus Metals unveils significant REE results from Kwyjibo project in Quebec

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 metallurgical testing.
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 program.
Focus said it expects to consider an NI 43-101 compliant resource estimate following the results of this program.

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