FOX INTERSECTS 36 METRES OF MASSIVE SULPHIDES ATEM TARGET...

FOX INTERSECTS 36 METRES OF MASSIVE SULPHIDES AT
EM TARGET CONQUEST
The Board of Fox Resources (“Fox”) (ASX: FXR) is pleased to announce that diamond
drillhole 07CQDD009 drilled to test the Conquest Electromagnetic (EM) target (Figure 1),
located 2km north west of the Company’s Elizabeth Hill plant, has intersected two zones of
mineralisation as follows:
144.4 to 169.2 m downhole depth, (24.8m)
182.0 to 193.1 m downhole depth, (11.1m)
The intersections comprise massive to semi massive pyrite-pyrrhotite with copper and zinc
mineralisation. Drill core is being prepared for shipment to Perth for independent analysis and
results will be released as soon as they are made available to the Company.
Conquest is the first of five new EM conductor targets in Fox’s Whundo Base metals
complex in the Pilbara region of Western Australia (Figure 2) to be drilled. Fox commenced
diamond drilling on 15 March 2007 at the geophysical target, with immediate success.
Fox’s Managing Director, Mr Don Harper, said this kind of result demonstrates the depth and
suite of commodities Fox can potentially access at its rapidly expanding Pilbara base.
“Today’s results from Conquest are the first to confirm the potential for massive sulphides
based on our previous EM data,” said Mr Harper. “As a diversified base metal producer, that’s
a very key development for us.”
The Conquest anomaly comprises two conductors whose tops have been modelled at
approximately 80 – 100 metres below surface (Figure 3), the larger having an indicated strike
length of 100 metres and open in depth and to the east and south. Their surface expression is
a series of disconnected copper-zinc gossans. Diamond drillhole 07CQDD009 has intersected
the larger of the two conductors at an approximate depth of 135 metres below surface and
follow-up drilling along strike and in depth is underway.
There are a total of four other new prospects of particular interest to Fox; Sunchaser, Bertram
and Carver in the Whundo Base Metals Complex and a fourth target, Zodiac, located 5
kilometres east of the Company’s Radio Hill nickel mine and milling operation. Fox has
successfully identified near-surface deposits and plans to explore the potential of large-scale
Volcanogenic Massive Sulphide (VMS) mineralisation at depth.
Initial targets were generated by a helicopter borne EM survey. Confirmation through ground
EM geophysics has been used on the larger Sunchaser, Conquest and Bertram targets.
The Company looks forward to updating shareholders on the progress of its activities at
Conquest over the coming weeks. A brief description of the EM targets are included in the
following Appendix.
-ENDSFor
further details, please contact