Chase Mining Corporation Ltd (ASX:CML) has a 40% holding in Red Fox Resources (ASX:FXR) Pty Ltd, which today released strong gold results from a sampling and mapping program completed in March 2022 at GW Gossan prospect within the Butchers Bore EPM 26397 in the Cloncurry district of northwest Queensland.
Highlights of the program include:
- Gold values up to 17 g/t in rock chip samples with numerous results over 1 g/t gold;
- Gold associated with anomalous cobalt, bismuth, molybdenum and tungsten;
- Rock chips show mineralised system at least 3 kilometres long; and
- Soil anomaly further refined over 1-kilometre strike with values up to 1.05 g/t gold in soils.
Red Fox has been concentrating its work in this EPM on the GW Gossan prospect since returning good sampling results from activities in late 2021 in the area.
Chase invested $600,000 for its 40% stake in Red Fox back in late 2020, increasing its exposure to seven wholly-owned, granted exploration tenements across the Mt Isa/Cloncurry and Georgetown mineralised districts.