Fox Resources Ltd

Published : August 18th, 2009

Fox Resources Commences Drilling at Untested, New Target Areas Below Radio Hill

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Keywords :   Copper | Nickel |

Fox Resources Commences Drilling at Untested, New Target Areas Below Radio Hill

Fox Resources (ASX: FXR, ?Fox?) today announced that drilling contractor, DDH1, has commenced a 2,340m drilling program at the Company?s Radio Hill project.

A new exploration target area was recently identified to the west of the current Radio Hill mining operations by Fox?s exploration staff and mineral exploration consultants, Newexco Services Pty Ltd (Newexco).

Fox Managing Director Bruno Seneque said that despite the area?s significant potential for further high-grade sulphide discoveries, it has never been targeted.

?Based on our re-interpretations of the stratigraphy, we believe there is potential for a second prospective horizon below the main Radio Hill intrusion,? said Mr Seneque.

?To-date, the drill holes stopped when they hit ?basement? ? which we now believe was premature,? he said.  ?Using our new geological interpretation for the northern part of Radio Hill, we are currently drilling for new mineralisation in this exciting and untested area.?

The drilling programme has a dual objective of testing prospective stratigraphy adjacent to and within the Radio Hill intrusion and also the extension of shallow resources east of the existing mine.

?We are very interested in testing the potential for massive and disseminated nickel-copper sulphides below the felsic volcanic unit west of and stratigraphically below the Radio Hill deposit.?  

To view the full ASX announcement, with cross section illustrating the new geological interpretation, please click on this link http://www.stocknessmonster.com/news-item?E=ASX&S=FXR&N=456874

For further information, please contact:

Bruno Seneque
Managing Director
+61 8 9318 5600
 
Ann M Nahajski
Joint Company Secretary   
+61 (0)400 205 433
ann@amncorporate.com



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Fox Resources Ltd

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CODE : FXR.AX
ISIN : AU000000FXR8
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Fox Res. is a silver and gold producing company based in Australia.

Fox Res. develops silver, gold, cobalt, copper, nickel and palladium in Australia, and holds various exploration projects in Australia.

Its main asset in development is RADIO HILL (FOX) in Australia and its main exploration properties are ASHBURTON, RUTH WELL, WHUNDO and MT REGAL in Australia.

Fox Res. is listed in Australia. Its market capitalisation is AU$ 1.7 millions as of today (US$ 1.3 millions, € 1.1 millions).

Its stock quote reached its highest recent level on November 10, 2006 at AU$ 1.88, and its lowest recent point on March 24, 2016 at AU$ 0.00.

Fox Res. has 847 800 000 shares outstanding.

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5/26/2009(Radio Hill (fox)) Radio Hill Exploration Update
5/22/2009(Radio Hill (fox))Commences Heap Leaching Tests
2/26/2009(Mt Oscar)Media Release: Encouraging Drill Results Continue Progress a...
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10/27/2009Gold Rush on Fox's Tenement
8/25/2009Notice of Meeting 23 September 2009
8/4/2009 Announces Shortfall Placement
6/26/2009 Opens Share Entitlement Offer
6/17/2009Heap Leach Tests Deliver Exciting Results
6/11/2009Capital Raising - Non-Renounceable Entitlement Offer
5/18/2009Opens its Offer to Unlock Value in Hannans Reward Assets
2/12/2009Promising Assay Results From Radio Hill
2/4/2009New Exploration Results At Radio Hill
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