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MENAFN - ProactiveInvestors - Australia - 14/11/2012

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(MENAFN - ProactiveInvestors - Australia) Fox Resources (ASX: FXR) is carrying out electromagnetic surveying at its wholly-owned Yannery copper prospect in Western Australia to define further drill targets.

This was sparked by renewed interest in the Whundo volcanogenic massive sulfide district and will consist of a DHEM survey using drill holes YNRC008 and YNRC009 that had intersected copper mineralisation as well as a fixed-loop electromagnetic surface survey.

Reverse circulation drilling was carried out by Fox in 2006 and included notable results of 10 metres at 2.05% copper including 3 metres at 6.1% copper, 5 metres at 6.74% copper and 19 metres at 1.21% copper.

Fox is also preparing to start a A1.87 million reverse circulation drilling program at its Mount Oscar Magnetite Project in early January 2013.

This will include gold exploration at White Quartz Hill and is fully funded by partner Magnetic South.

Recent drilling at Ayshia suggests that the mineralisation pinches down-plunge but is currently open to the northeast.

Additional drilling is warranted to test the extent of the copper-rich mineralisation, which is unconstrained to the north-east.

Fox plans to drill three diamond holes for 1,100 metres in early 2013.

 






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