Royal Fox Gold (TSX-V:FOXG) Inc has revealed a batch of new results from its 2022 drill program on the Philbert gold deposit in Quebec.
Drilling tested the Red Fox zone over a 650 metre strike length and up to 400 metres vertical depth within the footwall of the Philbert trend.
Highlights of the results include 1.69 grams per ton (g/t) gold over 35.6 metres, including 3.06 g/t gold over 13 metres and 1.70 g/t gold over 13.6 metres.
READ: Royal Fox Gold hits high-grade gold at its Philibert deposit in Quebec
The results include three holes drilled near surface along the southernmost trend of the Red Fox zone over an 80 metre strike length that Royal Fox said returned “compelling” grade and width intersections.
Photo of PB-22-336 Red Fox Zone - 3.06 g/t Au over 13.0 metres
“The results announced today include meaningful grades and widths intersected at the Red Fox Zone at surface and at depth, which continue to demonstrate continuity of the mineralization system along strike and down dip,” CEO Simon Marcotte said in a statement.
He said the results, coupled with historical data, have led the company to look at the project through a different lens.
“Rarely are we presented with such an opportunity to begin an exploration venture with over 60,000 metres of drilling already completed and more than $10,000,000 already spent in advanced exploration while retaining such blue-sky potential,” Marcotte told shareholders.
“Not only a different gold price environment is prevailing, but the recent discovery of the Nelligan project greatly increases the likelihood of milling capacity in the immediate area and has transformed the Philbert project as a potential pillar in this rapidly emerging gold camp.”
Results are still pending on another 93 holes from the 2022 campaign, with special attention being paid to the continuity of the mineralization, “which matters even more than grade for a deposit of this nature,” Marcotte said.
The results from the nearly 16,000 metres completed this year will be added to the historical drilling and incorporated in the project’s first resource calculation later this summer.
Royal Fox has retained GoldMinds Geoservices to complete the resource calculation.
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