Silvore Fox Updates Progress on Winston Lake and Coxheathadmin
Silvore Fox is pleased to announce that they have received the results of the Geotech Ltd VTEM survey over their 9600 ha claim holdings in the Winston – Pick Lake area north of Schreiber in Northern Ontario.
The 1,061 line kilometer helicopter survey covered the area for the most part at 100 meter line spacing recording both VTEM and magnetic response. Several VTEM anomalies were encountered, some of which had not been indicated by past surveys.
Silvore Fox is presently compiling this new data with pertinent historical geological data and is currently evaluating and prioritizing a number of quality drill targets that have been identified for follow-up geophysical work and diamond drilling in 2012.
Mr. Ian Chisholm, PEng, was engaged by the Corporation to be the lead consultant on this project.
Coxheath, Nova Scotia (Copper Porphyry system, 100% owned)
Extensive airborne and ground geophysical work, mapping and trenching has been performed on the surface mineralization on this property in the past. The latest geophysics and trenching program in the second half of 2011 had suggested the presence of a possible buried intrusive (porphyry- type system) source for outcropping vein mineralization found at the old mine site.
Three targeted drill holes totaling 1353 meters have been completed to test this possibility. The holes tested an area east of the Mountain Zone and south of the Central Zone outcropping Copper-Moly vein systems where the IP survey had indicated a broad anomaly at depth with relatively high chargeability extending over 600m of strike and suggested thickness varying from 150 to 300m.
No significant shallow mineralization was intersected and part of the anomaly appears to represent the contact between volcanics and the local intrusives. Two of the three holes intersected narrow blind mineralized veins with copper cutting the volcanics. Drill Hole SF11-01 intersected 1.6 meters grading 0.43% Copper at 556 to 557.6m and hole SF11-02 intersected two veins, one grading 0.097% Copper and 0.01% Moly over 1.0 meter at 309 to 310m and the other grading 0.202% Copper and 0.028% Moly at 319 to 321m. We are compiling the new drill information with the geophysical results to assist in determining the next step of our Coxheath exploration plan.
“The Winston Lake property has justified our initial enthusiasm for the project as a number of strong conductors were discovered on our claims. The VTEM survey provided precise targets, several of which are considered drill-ready by our geological team. These results have confirmed that there is potential for discovery of an ore body of similar size and grade to the Winston and Pick Lake mines of the 1990′s on our claims.
At Coxheath drill results in the new target area continued to show mineralization similar to that we have seen across the entire Coxheath claims area. The ground truth provided by these drill results has assisted our team in developing a stronger understanding of the area at depth and this will shape our ground geophysics and drill programs going forward.”
– Mr. Harold Cabrita, President and CEO, Silvore Fox Minerals Corp
Ian Chisholm, PEng, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
About Silvore Fox Minerals Corp.
Silvore Fox Minerals Corp. is a Toronto, Ontario, Canada based public mineral exploration company. We are focused on high tonne potential base metal exploration projects within a diversified portfolio of properties.
On November 17th, 2010, Silvore Fox entered into a Strategic Agreement with Beijing Donia Resources Co. Ltd (“Donia”). Donia is the single largest shareholder of Silvore Fox currently holding approximately 30% of the Corporation’s outstanding shares. This strategic partnership provides the Corporation with a strong platform for growth through mineral exploration expertise, funding and strategic acquisitions. SFX has an experienced management and geological team.
Harry Cabrita, President and CEO
Dr. Jingbin Wang, Chairman