Royal Fox Gold (TSX-V:FOXG) Inc has reported encouraging drill results from the southern part of the Arctic Fox zone at its Philibert project in Quebec, which, it says, will add "significant" near-surface gold ounces to the project's resource.
The latest assays hail from ten holes, which tested the southern footwall of the Arctic Fox Zone over 200 metres (m) of strike and up to 330m depth.
"The results released today continue to demonstrate clear continuity and consistency along strike and down dip as we report results for the 93 remaining holes," said Simon Marcotte, the CEO of Royal Fox.
"The higher-grade nature of the Arctic Fox Zone adds significant near-surface gold ounces to the overall gold resource. We are presented with an exceptional opportunity with the Philibert Project as we integrate the new results with the already realized historic drilling of 60,000 metres and re-envision this project as a pillar in this rapidly emerging gold camp," he added.
Marcotte concluded: "Re-modeling of higher-grade domains like the Arctic Fox is currently in progress, with the Fox team focused on expanding these higher-grade domains down dip and down plunge."
Among the drill highlights were an intercept of 11m at a grade of 4.57 grams per ton (g/t) gold from a depth between 68m and 79m, which included a section of 7.88 g/t gold over 6m starting from 72m.
Another hole returned 2.75 g/t gold over 16.m from 9.3m to 25.3m depth, including 5.11 g/t of the yellow metal over 2.7m between 9.3m and 12m depth.
The Philibert project lies 60 kilometres (km) southwest of Chibougamau and spans 5,393 hectares of highly prospective ground, 9km from IAMGOLD's Nelligan gold project which was awarded the "Discovery of the Year" by the Quebec Mineral Exploration Association (AEMQ) in 2019.
So far, over C$10 million (historical value) has been spent on the project and more than 60,000m of drilling completed.
Royal Fox aims to release a maiden NI 43-101 resource estimate which will incorporate results from both brownfield and greenfield exploration, combined with extensive historical data.
The project is owned by SOQUEM - a subsidiary of Investissement Québec and Royal Fox is currently undergoing an ownership option process, details of which can be found in the corporate presentation available on the Company's website HERE.
Contact the writer at giles@proactiveinvestors.com