Fox sniffs out copper mineralisation with first Ayshia drill hole

/in /by

THE DRILL SERGEANT: Base metals development company Fox Resources has intersected copper-bearing mineralisation while drilling at the Ayshia deposit, in the company’s West Pilbara tenement holding.

The first hole Fox drilled in the latest program at Ayshia intersected:

–    34.85 metres at 1.10 per cent copper, 0.46 per cent zinc, 0.20 grams per tonne gold and 3.39 grams per tonne silver, from 169.65 metres to 204.5 metres downhole.

–    This included 10.35m at1.98 per cent copper, 0.3 per cent zinc, 0.25g/t gold and 6.78g/t silver from 169.65m to 180m.

“We are pleased with these initial results, which show the strong potential of the Ayshia deposit,” Fox resources chief executive officer Laurie Chew said in the company’s announcement to the Australian Securities Exchange.

The diamond drilling program Fox currently has underway is targeting additional mineralisation down-plunge of the known Ayshia deposit.

The Ayshia deposit was discovered by Fox in 2006.

A subsequent resource drill-out yielded a mineral resource of 767,000 tonnes grading at 2.41 per cent zinc and 0.43 per cent copper (measured, indicated and inferred).

The company completed a down-hole EM (DHEM) program last year, and the results were utilised to generate the targets drilled during February 2012.

This drilling was focused on testing a copper-bearing zone that is interpreted to extend down-plunge from the known deposit.

Fox said the drilling results to date indicate the copper-bearing zone of the Ayshia deposit extends beyond the extent of previous drilling.

 

Ayshia project – Resource mineralisation envelopes and 2012 diamond drill hole location plan. Source: Company announcement

The copper mineralisation in the above-mentioned hole is the thickest the company has hit to date at Ayshia, and is drilled almost perpendicular to the orientation of the mineralisation, which Fox considers to represent a near true thickness.

Two further holes have tested the geophysical anomaly associated with the copper-bearing zone for further down-plunge mineralisation.

Both drillholes intersected copper sulphide (chalcopyrite) mineralisation, with assay results pending.

“Following these very encouraging drilling results, a down hole EM crew was mobilised and is currently on site surveying all three drill holes,” Chew said.

“Final results of the drilling and DHEM will be published as they become available.”