Business
Drilling Commences at Arctic Fox’s Spius Porphyry Copper Project
Vancouver, B.C. – June 7, 2021 – Arctic Fox Ventures Inc. (CSE:AFX) ("Arctic Fox" or the "Company”) is pleased to report that a 550-metre drill program has comm
About this update from Arctic Fox Lithium Corp
[{"type":"text","content":"Vancouver, B.C. – June 7, 2021 – Arctic Fox Ventures Inc. (CSE:AFX) (\"Arctic Fox\" or the \"Company”) is pleased to report that a 550-metre drill program has commenced at its Spius copper porphyry project (“Spius” or the “Property”). The Property is located 40 km southwest of Merritt, British Columbia, and is currently under option from Pacific Ridge Exploration Ltd. (“Pacific Ridge”). Drilling will test below the high-grade showing area, where grab samples of mineralized porphyry from float and a small outcrop exposure range from 1.11% Cu to 2.53% Cu, and will also test for mineralization at depth near hole SP-19-03, which ended in porphyry-style copper mineralization at a depth of 276 metres. \"With our recent listing on the Canadian Securities Exchange, this is great news for our shareholders as we will be able to get onto the Property early in the drilling season \", said Harry Chew, President and CEO of Arctic Fox. “We will be able to carry out our Phase I exploration program as outlined in our prospectus and have ample time to evaluate the results to plan our next phase of exploration on Spius.” About Spius Spius was explored for its porphyry potential in the 1960’s and early 1970’s. Exploration focused on a gossan area where work included an IP survey, trenching and 27 percussion and core drill holes. The drilling was shallow, with none of the drill holes exceeding 100 metres. Most of the records from this early exploration work have been lost, including the drill logs. The Property was optioned by Pacific Ridge in 2018 and surface exploration was completed, including soil sampling and an IP survey. In 2019, Pacific Ridge drilled 1,087 metres in four holes. The best mineralization was encountered at the bottom of hole SP-19-03, drilled at the northern end of the Copper Zone, encountering 51.8 m averaging .099% Cu (224.3 to 273 m), including 39.0 metres at .113% Cu. All drill holes encountered porphyry-style mineralization and alteration top to bottom, with variably anomalous Cu and Mo values. Spius option terms Arctic Fox can earn a 60% interest in Spius by making payments of $60,000, issuing 1,000,000 shares and spending in aggregate $550,000 on exploration by December 31, 2022. For further information, please contact: Harry Chew, President, CEO Phone: (604) 689-2646 Suite #905-1030 West Ge...