Running Fox Resource Corp.: Brett Gold Project Progress Update
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/17/12 -- Steven Schurman, P. Geol. (US) Director, reports:
Running Fox Resource Corp. (TSX VENTURE: RUN); (PINKSHEETS: RFXRF) is pleased to provide a progress update for its Brett Gold Project. The Brett Gold Project is an advanced stage exploration property located in southwestern B.C. To date, over 111 exploration and development drill holes have tested the epithermal gold veins found at the Brett property.
A drill program was permitted and implemented after Running Fox completed the transaction to acquire 100% ownership of the Project. In the past, the majority of the Brett drill holes were located on the south end of the approximately 60 square kilometer Brett property. For the 2011 drill project, Running Fox Resources made the decision to test a number of gold-in-soil anomalies that were located on the north, undrilled portion of the Brett property. The Program included 13 core drill holes for a total of 1,218 meters of drilling.
While the 2011 Brett core holes tested several geologic structures, the most significant discovery was the presence of a 75 meter wide, gold-bearing breccia zone that was heavily silicified and pyritized. Eight drill holes into this newly discovered breccia zone tested the zone to approximately a depth of 90 m and encountered gold mineralization to 3.2 grams/tonne. This new discovery expands the Brett gold mineralizing system approximately 1 km to the north of the original Brett discovery and validates the numerous gold-in-soil anomalies that are located between the north and south gold discoveries.
The discovery of the new breccia zone and analysis of the 2011 program by outside geologic consultants suggests that in addition to epithermal vein deposits that have been the subject of past exploration projects, a larger, porphyry-type exploration target may also exist beneath the Brett property.
Running Fox is now permitting for a 2012 drill program that will be designed to expand the existing ore-grade gold zones that have been identified by past drilling in the south as well as test the gold-in-soil anomalies and mineralized trenches that are located south of the 2011 drill holes. It is Running Fox's 2012 goal to identify enough gold mineralization in the south discovery area with the 2012 drilling to justify re-opening the Brett mine adit, commence an underground exploration program and recover enough gold mineralization so the company can begin to study gold mill recovery options.
Steven Schurman, P. Geol. (US), Director, is the Qualified Person for the technical content of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Running Fox Resource Corp.
Steven Schurman
P. Geol. (US), Director
403 770 9089
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Datum: 17.01.2012 - 23:00 Uhr
Sprache: Deutsch
News-ID 105123
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Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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