Chase Mining Corporation Ltd investor Red Fox launches field work campaign in Queensland

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Chase Mining has invested $600,000 to secure its 40% stake in Red Fox at the end of 2020, increasing its exposure to seven wholly-owned exploration claims in the mineralized districts of Mt Isa/Cloncurry and Georgetown.

Chase Mining Corporation Ltd (ASX:CML) issuing company Red Fox Resources (ASX:FXR) Pty Ltd kicked off its 2022 field season with work on the Eveleigh zinc-lead-silver and Butchers Bore projects in North Queensland .

The private resource company, in which Chase has a 40% stake, is focused on acquiring high-quality polymetallic exploration targets in well-defined mineralized regions, and two of its key assets will form the basis of the campaign. of land this year.

Red Fox will use mapping and geochemical sampling to explore the Eveleigh and Butchers Bore projects, with results from both programs expected later this month.

All of the CML-owned entity’s projects are either drill-ready or require a small amount of low-cost preparatory work to advance, meaning there is the potential to quickly increase in value without spending years on exploration at an early stage.

Chase Mining has invested $600,000 to secure its 40% stake in Red Fox at the end of 2020, increasing its exposure to seven wholly-owned exploration claims in the mineralized districts of Mt Isa/Cloncurry and Georgetown.

Explore Eveleigh

Fieldwork at the Eveleigh Project in the Georgetown district of North East Queensland will consist of mapping and geochemical sampling.

The mapping program aims to define and extend the vein horizon of the project, while the pXRF geochemistry aims to extend the known mineralized zones to the east and west, as well as to refine the drill targets to the east and west. using multi-element geochemistry.

Red Fox hopes to complete a diamond drill program – consisting of six holes for 810 meters – on the zinc-lead-silver project in mid-2022.

The drilling is supported by a government grant of $200,000, which was secured through Business Queensland’s collaborative exploration initiative.

The drilling will assess the potential for BHT (Broken Hill Type) mineralization at Eveleigh, which has not yet been confirmed on this project.

Building Data at Butchers Bore

Meanwhile, fieldwork at Red Fox’s Butchers Bore asset – in the Cloncurry district of North West Queensland – will include further sampling and mapping activities, centered on the GW Gossans prospect. .

The program is designed to refine and expand anomalous areas identified during last year’s field campaign.

Highlights of the 2021 work program included:

  • Discover up to 3.86 g/t gold in rock chip samples;
  • Define a ground anomaly over 700 meters; and
  • The defining ground anomalies were open to the south, west, and east.
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