VANCOUVER, British Columbia, July 19, 2004 (PRIMEZONE) -- Running Fox Resource Corp. (Pink Sheets:RFXRF) (TSX Venture Exchange:RUN), a resource exploration company, announces that the 2004 Summer Development Program has commenced on its Brett Gold Project, in Southwestern B.C. The planned 2004 exploration program will include geochemical surveys, trenching, underground sampling and diamond drilling. Previous exploration work on the Brett Gold Property has confirmed the presence of a number of significant gold bearing mineralized zones, associated with northerly trending altered shear/ fracture zones. Running Fox Resource's corporate strategy is to go where the know gold is, based on historical data, improving the overall rate of success and profitability.
The Brett Gold Project has had 157 drill holes, mostly on the Bonanza Zone which covers only 700 feet of the 4,500 foot Main Shear Zone (traced strike length). There are currently three gold mineralized shear/faults, and the Main Shear Zone is the only one which has been explored significantly. Overall, to date there are five mineralized gold zones identified on the Brett Gold Project, with an additional untested 25 gold anomalies
A new 40 unit claim block has been staked to the north of the Brett Gold Project to cover the extensions of both the main and parallel shear systems. A soil geochemical survey is currently being conducted over these claims to determine the exact location of the zones of interest. The Brett Gold Project is now a 70 mineral unit claim block encompassing an area of 17.5 square kilometers (4,324 acres). Applications for the required permits have been submitted and approved for the non-disturbance portion of the program.
An analysis of all available information from previous work consisting of geochemical surveys, trenching, 10,000 meters (32,900 feet) of diamond drilling, 2,800 meters (9,300 feet) of reverse circulation drilling, and 459 meters (1,506 feet) of underground development has been compiled in a digital data base from which 3D modeling has been completed and analyzed.
This advanced modeling analysis has resulted in a different interpretation of the mineralization on the property. Previous operators which included Huntington Resources Ltd., Lacana Mining Corp. and Corona Corp., had a primary focus on a zone of high grade mineralization within a shear zone known as the "Bonanza Zone". An extraordinarily high-grade drill hole No. 88-11 intersected 235 feet grading 2.03 ounces of gold per ton was interpreted to have been drilled down dip within the shear zone but subsequent work has confirmed that gold, in addition to being associated with the major shears (previous interpretation), is also associated with shallow dipping polymictic tuff units. This focus resulted in many high-grade gold intercepts, but subsequent work has confirmed that gold, in addition to being associated with the major shears (previous interpretation), is also associated with flat lying polymictic tuff units.
To date, five (5) of these tuff beds have been identified in the stratigraphy. They range in thickness from 2 to 40 meters, have been traced for over 1,500 meters in an East-West direction, and have been observed to contain visible gold away from the shears.
In addition, the majority of high grade (less than 1 oz Au/ton) assays all appear to be localized at specific elevations matching the approx. location where these tuff beds intersect the shear. It is thus interpreted that a large portion of the extremely high gold mineralization on the property is related to the intersection of these polymictic tuff horizons and the major shears.
The interpretation opens up a large area for exploration, measuring 1,300 meters north-south by 1,000 meters east west by 500 meters vertical and open in all directions. The initial drill program will focus on these intersections both along the main shear and along the parallel shears identified in the analysis.
Joseph Montgomery Ph.D., P.Eng. has been retained as the Qualified Person as described in NI 43-101 to oversee the 2004 exploration program.
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About Running Fox Resource Corp.
Running Fox Resource Corp., is a Vancouver, Canada based resource exploration company which is developing the Brett Project in British Columbia, Canada. The Company reviews other Projects and determines their potential to be advanced with rational amounts of development, and for their ability to add value to shareholder equity and to the corporate entity. Certain significant projects are under review. As reported in the independent NP 43-101 Technical Report (available at www.foxgold.ca) "The last hole drilled on the property Hole 93-19, a reverse circulation hole, returned an intersection of 16.76m grading 35.79 gms Au/tonne (1.045 oz Au/ton) including 3.048 m grading 57.88 gms Au/tonne (1.69 oz Au/ton) and 4.57 m grading 107.88 gms Au/tonne (3.15 oz Au/ton) within the Main Shear Zone."
The Brett Gold Project has had 157 drill holes, mostly on the Bonanza Zone which covers only 700 feet of the 4,500 foot Main Shear Zone (traced strike length). There are currently three gold mineralized shear/faults, and the Main Shear Zone is the only one which has been explored significantly. Overall, to date there are five mineralized gold zones identified on the Brett Gold Project, with an additional untested 25 gold anomalies.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.