Royal Fox drills 0.89 g/t gold over 22.9 metres at Philibert, Quebec

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Royal Fox Gold Inc. [FOXG-TSXV; HBEXF-OTC] reported assay results for the 2022 campaign on the Philibert gold deposit, 60 km southwest Chibougamau, Quebec. In addition, the company announces remaining results for the 2021 diamond drilling campaign.

Highlights (grades uncut; lengths measured along hole) included DDH PB-22-327A that returned 0.89 g/t gold over 22.9 metres from 130.1 to 153.0 metres, including 2.99 g/t gold over 4.1 metres from 143.0 to 147.1 metres. DDH PB-22-322B returned 1.01 g/t gold over 8.0 metres from 91.0 to 99.0 metres and 2.81 g/t gold over 6.1 metres from 119.9 to 126.0 metres.

DDH PB-22-343 returned 1.21 g/t gold over 12.0 metres from 106.0 to 118.0 metres, including 9.32 g/t gold over 1.0 metre and 1.72 g/t gold over 7.0 metres from 132.0 to 139.0 metres. DDH PB-22-333 returned 2.37 g/t gold over 3.9 metres from 117.0 to 120.9 metres, including 6.87 g/t gold over 1 metre from 119.9 to 120.9 metres.

DDH PB-22-324 returned 0.95 g/t gold over 9.0 metres from 98.0 to 107.0 metres. DDH PB-22-334 returned 4.10 g/t gold over 1.9 metres from 34.5 to 36.4 metres.

Simon Marcotte, President and CEO, commented: “We are very pleased with the results received to date which continue to validate the size and potential of the Philibert deposit, as we work towards our maiden NI 43-101 resource later this year.”

Three drill rigs completed 15,943 metres of diamond drilling in 120 drill holes to test the upper 200 metres of both the hanging wall and footwall zones of the 3-km strike length of the Philibert deposit as well as deeper infill drilling and expansion. Today’s complete results are reported for 13 drill holes which tested the Corsac Fox Zone over a 700-metre strike length within the hanging wall of the Philibert trend.

Drilling targeted the zone from surface up to 120 metres vertical depth with hole PB-22-327A returning 0.89 g/t gold over 22.9 metres from 130.1 to 153.0 metres. The northwestern section of the Corsac Fox Zone returned significant gold intersections near surface and down dip along a 280-metre strike from hole PB-22-332 to hole PB-22-343.

The Corsac Fox Zone is coincident to a magnetic linear anomaly which is largely untested for two kilometres along the Philibert trend and represents a high priority target to expand gold mineralization for the company in the future.

The remaining 2021 results have been received and include hole PB-21-317, drilled to test the Arctic Fox zone, that intersected 1.00 g/t gold over 16.5 metres from 37.5 to 54.0 metres. Other drill results include 4 metres of 9.8 g/t gold (Arctic Fox), 55.5 metres of 1.23 g/t gold (Grey Fox) and 9.4 metres of 2.76 g/t gold (Fennec Fox). Refer to original company press release for assay table.

The Philibert Project comprises 110 mineral titles having a total approximate area of 5,393 hectares of highly prospective ground, 9 km from IAMGOLD’s Nelligan Gold project which was awarded the “Discovery of the Year” by the Quebec Mineral Exploration Association (AEMQ) in 2019.

To date, more than $10M (historical value) have been spent on the Philibert Project, with more than 60,000 metres of drilling completed. The company is focused on de-risking the asset and releasing a maiden NI 43-101 resource estimate which will incorporate results from both brownfield and greenfield exploration, combined with extensive historical data. Royal Fox is earning a 100% interest in Philibert Project from SOQUEM Inc.

 


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