Fokus Mining Corporation (TSE:FKM) has released an update.
Fokus Mining Corporation is set to conduct a thorough re-evaluation of the open pit potential at its GP Gold Zone, factoring in the current higher gold prices and more favorable US/Canadian dollar exchange rate. The company has tasked InnovExplo Inc. with updating its 2012 resource estimate and improving the classification of its resources. Despite higher expected operating costs, Fokus is optimistic that the economics may now support a small-scale open pit operation, possibly leading to a larger mining project at the Galloway property.
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