Fox launches follow up drill campaign at Ayshia

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THE DRILL SERGEANT: Base metals development and exploration company Fox Resources is gearing up to commence a new program of drilling at the company’s 100 per cent-owned Ayshia volcanogenic massive-sulphide (VMS) deposit.

The drill testing follows encouraging drill results from the Ayshia deposit reported by Fox during February and March 2012.

 

Planned drilling in relationship to recently completed holes, DHEM
targets and known mineralisation at Ayshia. Source: Company announcement

 

The company is currently in advanced discussion with a drill contractor and expects to have a contract organised shortly.

The new program is to consist of six diamond drill holes for a total of approximately 2500 metres of drilling, which is planned to test down-hole electromagnetic (DHEM) targets Fox defined via a geophysical surveying program undertaken at the end of its last drilling campaign.

The company is of the opinion the DHEM targets indicate the presence of mineralisation both along strike and down plunge of the current drilling extents.

“Since the initial zinc resource was defined in 2006, no further exploration has been conducted at Ayshia,” Fox Resources chief executive officer Laurie Chew said in the company’s announcement to the Australian Securities Exchange.

“It is now pleasing to see the results of our geological re-assessment produce positive drill results and exploration momentum.”

The previously reported results from Ayshia include:

–    34.85 metres at 1.1 per cent copper, 0.5 per cent zinc, 3.4 grams per tonne silver and 0.2 grams per tonne gold from 169.65 metres to 204.5 metres downhole;

–    23.7m at 3.2 per cent copper, 0.4 per cent zinc, 7.3g/t silver and 0.14g/t gold from 209m to 232.7m downhole; and

–    9.25m at 4.4 per cent copper, 1.7 per cent zinc, 16.9g/t silver and 0.22g/t gold from 259.6m to 268.85m downhole.

Fox said its recent exploration at Ayshia has highlighted the potential of the Whundo VMS district where the company currently holds, within its tenure, three VMS deposits for which mineral resources have been calculated, along with a number of other VMS occurrences.