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Market:	ASX
Sector:	General Mining
EPIC:	FXR
Latest Price:	0.07 (-5.48% )
52-week High:	0.12
52-week Low:	0.04
Market Cap:	23.35M

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Fox Resources

Fox Resources (ASX: FXR) is a diversified base metals explorer with nickel, copper and zinc projects located in the Pilbara region of Western Australia.

Fox Resources announces soil sampling results at Railway Bore Prospect

Thursday, November 26, 2009

Fox Resources (ASX: FXR) has revealed the results of an augur soil sampling programme undertaken on the Railway Bore prospect in the Pilbara of Western Australia.

The new greenfields prospect Railway Bore lies to the southwest of the East Well gold prospect, approximately 12km southeast of Radio Hill.

Shares in the company rose slightly following the news, increasing 1.9% to 26.5c.

The results confirm three individual gold in soil anomalies discovered at Fox’s Railway Bore prospect with values up to 1070 ppb (1.1g/t), with gold located in association with anomalous copper with values up to 1050 ppm.

The recent sampling identifies potential new prospect (2km NE of Railway Bore) with gold in soil values up to 241 ppb and associated copper anomalism.

Gold-copper association suggests an auriferous quartz vein system typical of Pilbara gold mineralisation.

Fox managing director Bruno Seneque, said he was very encouraged by these new results, which continue to confirm the potential of gold in Fox’s tenements.

“The presence of robust, untested geochemical anomalies in close proximity to Radio Hill is particularly encouraging,” Mr Seneque said.

“It’s exciting to have the potential to add gold to our portfolio of mineral assets at such an opportune time.

“Importantly, we didn’t purposely go out and purchase these gold opportunities, much like Mt Oscar – it’s an unveiling of the mineral rich west Pilbara.”

Railway Bore has been an area of prospector activity with an appreciable amount of gold being won from the prospect earlier this year, but the true gold potential of the Railway Bore area was only recently identified from the re-assaying of regional soil samples for gold.

Fox’s aim is to build up a geological understanding of the area to identify drilling targets.

Future work will include a more detailed review of the geological datasets in the area, together with a more extensive and detailed mapping and sampling programme to potentially identify new zones of mineralisation.

Meanwhile, Fox has also recently undertaken orientation soil sampling at the Mt Regal project, 18 kilometres NW of Railway Bore which was the focus of a recent metal detector gold rush. S

Over 25% of the 126 samples collect returned anomalous gold values above 10 ppb to a maximum of 344 ppb.

A reconnaissance sampling programme similar to that undertaken at Railway Bore is being planned for Mt Regal and will commence as soon as is practicable.

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