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Fox’s new exploration frontier

  Fox Resources has announced the discovery of six new clusters of base metal targets: Legendre, Millers Well, Harding, Balmoral, Rosemary and Matebore, located in the central portion of three tenements 55km southwest of the company’s Radio Hill processing operations in the Pilbara region of Western Australia.These discoveries were generated from a close spaced, low-level helicopter VTEM survey and each of the six clusters contain between two and 11 base metal targets. Fox said this was an exciting development in a new area where the company had signed a tenement access agreement with the giant diamond company De Beers through its subsidiary, De Beers Australia Exploration. Fox has fast tracked work in this highly prospective area, which had previously been exclusively explored for diamonds; however, the area had yet to see significant base metal exploration until now. The area of the VTEM survey was chosen based on favourable geology, a locally fractured and faulted limestone sequence and on stream sediment samples of nickel, copper and zinc acquired from the extensive De Beers database available to Fox. It is believed that the limestone sequence has the potential to host a major base metal deposit. Fox is currently preparing an exploration program consisting of a gossan search, geological mapping and ground Electromagnetic surveys, which will result in identifying priority drill targets. Fox Managing Director, Don Harper said: “We know we have been successful in the Pilbara using VTEM technology. These conductive anomalies in a new area bring us one step closer to our vision of discovering a major base metal deposit close to the company’s Radio Hill and Elizabeth Hill processing facilities.”

27 Tuesday November 2007  0:40:23

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