Royal Fox drills 8.0 metres of 5.88 g/t gold 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 Philibert gold deposit, Chibougamau, Quebec. A first set of results was published on Oct. 19, 2021.
Highlights (grades uncut; core lengths) included DDH PB-21-317 that returned 5.88 g/t gold over 8.0 metres, including 22.35 g/t over 2.0 metres, from 66.0 to 74.0 metres. DDH PB-21-321 returned 2.76 g/t gold over 9.4 metres from 124.6 to 134.0 metres in the Obatogamau Fault. DDH PB-21-318 returned 2.27 g/t gold over 10.6 metres from 503.0 to 513.6 metres, including 5.77 g/t gold over 3.0 metres.
Simon Marcotte, President and CEO, commented: “From the 1,147-metre drill program, the results returned to date continue to illustrate the high quality and potential of the Philibert gold deposit. As we aim to deliver a maiden NI 43-101 resource estimate in 2022, we couldn’t be more excited with the untapped potential of the project, including the large historical record of unsampled and sampled drill core, and the immense exploration potential to expend gold mineralization along the Guercheville Deformation Zone.”
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 1952 and 2014. At the time, gold prices favoured the development of the Philibert deposit as an underground resource. However, at today’s gold prices the district and Philibert are also amenable to open pit resources, especially when considering the recent discovery of the Nelligan gold deposit located 9 km southwest.
Adree DeLazzer, Vice-President Exploration, commented: “We are extremely pleased with the results released today which continue to demonstrate consistent grade and width from five key areas of the deposit, especially the near surface mineralization intersected within the Obatogamau Fault, again supporting our belief that the east and west sections of the deposit are continuous.”
To date, 395 assays from the 921 samples sent for analysis in June have been received from the labs, representing partial results from all five holes.
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. The Philibert Project is owned by SOQUEM. Royal Fox is undergoing an ownership option process.