Royal Fox drills 0.98 g/t gold over 20 metres at Philibert, Quebec
Royal Fox Gold Inc. [FOXG-TSXV] reported assay results from the 2021 diamond drilling campaign and results from historically drilled core not previously sampled on the optioned Philibert gold deposit, Chibougamau, Quebec.
Highlights (grades uncut; lengths measured along hole) include DDH PB-21-318 that returned 0.98 g/t gold over 20.0 metres, including 3.68 g/t over 4.0 metres, from 319.0 metres to 339.0 metres. DDH PB-21-318 returned 0.73 g/t gold over 18.0 metres from 288.0 metres to 306.0 metres.
Royal Fox Gold has begun the 2022 diamond drill program on the Philibert deposit.
Simon Marcotte, president and CEO, commented: “As we aim to deliver a maiden NI 43-101 resource estimate in 2022, we couldn’t be more excited to commence the 2022 drill program and untap the full potential of the Philibert deposit.”
The Philibert deposit, located 60 km southwest of Chibougamau, is defined by 60,000 metres of historic diamond drilling, including approximately 25,000 metres of unsampled drill core from campaigns completed between 1984 and 2014.
As part of the due diligence process, and to expand its knowledge of the deposit, Royal Fox drilled five diamond drill holes, totalling 1,147 metres, during the property acquisition process in March and April, 2021. The campaign focused on four key areas: N1, N7, S1-S2 and S3-S4 associated with 15 northwest-trending mineralized domains related to the Opawica-Guercheville deformation zone, a large system of anastomosing shear and fault zones, and host to numerous mines including the former Joe Mann mine.
Even more significant is the nearby Nelligan project host to an inferred resource of 3,194,000 ounces averaging 1.02 g/t gold with a mineralization style having similarities to Philibert.
Adree DeLazzer, vice-president, exploration, commented: “We are extremely pleased with the results released today, which continue to demonstrate unidentified and unmodelled gold mineralization in the upper portions of the Philibert deposit. The 2022 drill program is designed to define the upper portions of the deposit, which was not the focus during historical campaigns.”
To date, 731 assays from the 921 samples sent for analysis in June have been received from the labs. The associated table sets out the highlights from the results reported today. The results from the 190 outstanding samples will be released as they are received.
The drilling program is fully financed following the closing on Decembr 13, 2021, of a non-brokered private placement through the issuance of 28.3 million charity flow-through units at a price of 10 cents per flow-through unit for aggregate gross proceeds of $2.83-million.