VANCOUVER, British Columbia, Oct. 20, 2004 (PRIMEZONE) -- Running Fox Resource Corp. (TSX Venture Exchange:RUN)
Drilling is proceeding as planned on the Brett Gold Project. As of October 15, 2004, approximately 7,900 feet had been completed in 14 holes. The holes are designed to examine the geology, mineralization and structure along the main shear zone for a strike length of 1,000 meters and to examine the geology, mineralization and structure located 500 meters to the east.
Great care is being taken in assaying the samples from the drilling due to the presence of visible gold on the property and in the core.
Several styles of mineralization have been identified in the core, some similar to those defined by previous work. Geologically several significant units have been identified. Samples are being sent to Eco-Tech Labs in Kamloops where 50 gram Au fire assays are being run on the majority of the core and where visible gold or other mineralization is observed, 500 gram Au metallic assays are being performed. To date, samples from holes 1 to 11 have been submitted to the lab for assaying.
The initial soil sampling program has identified several anomalous gold areas on the eastern portion of the recently staked claim. The extension of the main shear zone to the northwest is not evident in the soil geochemical survey due to a cover of younger basalt/andesite flows that masks the area of the main shear and the gold bearing tuff beds.
Drilling at the north end of the main shear has confirmed this, revealing a sedimentary tuffaceous horizon that separates the younger basaltic/andesite flows from the older stratigraphy that hosts the gold bearing mineralization.
The anomalies on the east side of the claim are in a previously unexplored area and contain many gold (Au) values in the range 100 to 500 ppb, background in the area is less than 1 ppb. As a result of this discovery, a new claim has been staked covering the northern extension of the anomalies and the soil sampling program has been extended to the north and south of the area. In addition, road access has been established into the area to allow for future trenching and geological mapping to identify the source of the gold. During the construction of the access road, a new mineralized showing has been uncovered consisting of a highly altered pyritic tuffaceous bed cut by a northeast trending shear zone. Trenching, mapping and sampling of this new showing located 2 km northeast of the main area has started.
Finally, most of the previous drill core from the property has been recovered and re-logging and re-assay, especially of the intersections that showed visible gold, will commence shortly.
With the second round of new staking, the Brett Gold Project now covers approx. 20 square kilometers, with extensive exploration work totaling more than $4,000,000, including 172 drill holes, mostly on the Bonanza Zone which is approx. 700 feet of the 4,500 foot Main Shear Zone (traced strike length). 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 (55 feet grading 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."
In 1996, a bulk sample was shipped to the Cominco Smelter in Trail, BC and returned an average net recovered grade of 0.82 ounces per ton of gold and 2.25 ounces per ton of silver. There are at least three gold mineralized shears/faults, and the Main Shear Zone is the only shear which has been explored significantly. Overall there are five mineralized gold zones identified on the Brett Gold Project, with an additional untested 25 gold anomalies.
Running Fox has delivered the final payment to complete the $500,000 expenditures required to earn a 50% interest in the Brett Gold Project. The Brett Gold Project will now convert to a 50-50 joint venture between the operator, Mosquito Consolidated Gold Mines (TSX Venture Exchange:MSQ) and Running Fox Resources (TSX Venture Exchange:RUN), with further details regarding the 2004 Diamond Drilling Program to follow.
On behalf of the Board of Directors, Wayne Waters, B.Sc, Geology (UBC)