Royal Fox drills 4.57 g/t gold over 11 metres at Philibert, Quebec

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Royal Fox Gold Inc. [FOXG-TSXV; HBEXD-OTC] reported further assay results for the southern portion of the Arctic Fox zone from its 2022 campaign on the 100%-optioned (from SOQUEM) Philibert gold deposit, located 60 km southwest of Chibougamau, Quebec.

Highlights include diamond drill hole PB-22-351 that returned 4.57 g/t gold over 11.0 metres from 68.0 to 79.0 metres including 7.88 g/t gold over 6.0 metres from 72.0 to 78.0 metres. DDH PB-22-349 returned 2.75 g/t Au over 16.0 metres from 9.3 to 25.3 metres, including 5.11 g/t Au over 2.7 metres from 9.3 to 12.0 metres and including 5.00 g/t Au over 5.3 metres from 20.0 to 25.3 metres, and 1.18 g/t Au over 13.0 metres from 41.0 to 54.0 meters including 8.20 g/t Au over 1.0 metre from 53.0 to 54.0 metres.

DDH PB-22-346 returned 1.22 g/t Au over 18.0 metres from 34.5 to 52.5 metres including 2.26 g/t Au over 5.0 metres from 36.0 to 41.0 metres. DDH PB-22-356 returned 1.24 g/t Au over 16.0 metres from 117.0 to 133.0 metres. DDH PB-22-347 returned 2.87 g/t Au over 4.9 metres from 18.7 to 23.6 metres including 6.48 g/t Au over 1.0 metres from 21.8 to 22.8 metres.

Simon Marcotte, president and CEO, commented: “The results released today continue to demonstrate clear continuity and consistency along strike and down dip as we report results for the 93 remaining holes. The higher-grade nature of the Arctic Fox Zone adds significant near-surface gold ounces to the overall gold resource. We are presented with an exceptional opportunity with the Philibert Project as we integrate the new results with the already realized historic drilling of 60,000 metres and re-envision this project as a pillar in this rapidly emerging gold camp. Re-modeling of higher-grade domains like the Arctic Fox is currently in progress, with the Fox team focused on expanding these higher-grade domains down dip and down plunge.”

Royal Fox is reporting today the complete results for 10 drill holes which tested the southern footwall of the Arctic Fox Zone over a 200-metre strike length and up to 330 metres vertical depth. Most holes reported today were drilled near surface with one-hole PB-22-349 collaring into mineralization, which returned 2.75 g/t gold over 16.0 metres from 9.3 to 25.3 metres. Hole PB-22-346 is the most western hole reported today, located at the edge of Arctic Fox and Red Fox, which returned 1.22 g/t gold over 18.0 metres from 34.5 to 52.5 metres, including 2.26 g/t gold over 5.0 metres from 36.0 to 41.0 metres.

The Philibert Project comprises 110 mineral titles having a total approximate area of 5,393 hectares of highly prospective ground, 9km 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.

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