Silvore Fox Provides Further Updates on 3 Projects
September 13 2011 - 8:40AM
Marketwired
Silvore Fox Minerals Corp. (the "Corporation" or "Silvore Fox")
(TSX VENTURE: SFX) is pleased to update shareholders on the status
of its 3 projects: Madagascar, Winston Lake, and Coxheath.
Coxheath, Nova Scotia (Copper Porphyry system, 100% owned)
At the company's 100% owned Coxheath claims Quantec Geoscience
has completed a 10-line (approximately 24 km) Titan 24 Deep Earth
Imaging survey utilizing both DCIP & MT technologies.
The multi-parameter data, from depths of up to 1.5 km, is now
being interpreted by Quantec, and Silvore Fox project advisor Dr.
Yang of Beijing Donia. in order to determine valid drill targets.
The potential here is for a large porphyry system buried under a
veneer of younger rocks.
This geophysical survey will provide a high resolution view of
specific, high priority, target areas with known copper, gold, and
moly mineralization. Initial interpretation results are already
being delivered and analyzed. A further update will be released
once a new working plan for Coxheath, likely to include a drilling
program, has been developed.
Winston Lake, Ontario (high grade VMS Copper - Zinc property,
100% owned, no NSR)
Geotech Ltd. has completed a 1,061 line kilometer helicopter
borne geophysical survey covering Silvore Fox's 9,600 hectares of
claims in the Winston and Pick Lake region near Schreiber in North
Western Ontario.
Interpretation of the data collected is being conducted by SFX
project leader Mr. Ian Chisholm P.Eng and JVX Ltd. a geophysical
consulting company, who are combining this new data with pertinent
historical data with the goal of providing Silvore Fox with high
quality drill targets. Silvore Fox will announce the survey results
and provide further exploration updates on the property after
completion of the interpretation process.
Madagascar, Africa (potential high grade Copper property, signed
LOI stage)
Local partner Gaea Mining has requested additional time from
Silvore Fox in order to obtain and provide certain commercial
documentation required by Silvore Fox to finalize a formal joint
venture agreement on the Madagascar properties. Silvore Fox has
agreed to provide GAEA with an extension agreement that will expire
on October 31, 2011.
Management Comments
"Work programs on our two Canadian properties are progressing
well. Delays with the completion of the joint venture agreement in
Madagascar are unfortunate, but necessary for management to protect
the interests of Silvore Fox shareholders. Both GAEA and Silvore
Fox are making their best efforts to close this deal which is why
Silvore Fox has granted GAEA the extension they requested." - Mr.
Harold Cabrita, President and CEO, Silvore Fox Minerals Corp
Ian Chisholm, PEng, a qualified person as defined by National
Instrument 43-101, has reviewed and approved the technical
information contained in this news release.
About Silvore Fox Minerals Corp.
Silvore Fox Minerals Corp. is a Toronto, Ontario, Canada based
public mineral exploration company. We are focused on high tonne
potential base and precious metal exploration projects within a
diversified portfolio of properties that attempts to minimize
political risk without limiting potential returns for our
shareholders.
On November 17th, 2010, Silvore Fox entered into a Strategic
Agreement with Beijing Donia Resources Co. Ltd ("Donia") at the
China International Mining Conference, 2010. Donia is the single
largest shareholder of Silvore Fox currently holding approximately
30% of the Corporation's outstanding shares. This strategic
partnership provides the Corporation with a strong platform for
growth through mineral exploration expertise, funding and strategic
acquisitions. SFX has an experienced management and geological
team.
This press release contains "forward-looking information" within
the meaning of applicable securities laws relating to the intention
of the Corporation to begin exploration activities on the
properties being discussed. Readers are cautioned not to place
undue reliance on the forward-looking information. Actual results
and developments may differ materially from those contemplated by
this forward-looking information depending on, among other things,
the risks of funding by the Corporation of the exploration and
development on the properties. Such forward-looking information is
based on current expectations that involve a number of known and
unknown risks and uncertainties that may cause actual results to
differ materially from those expressed or implied by the
forward-looking information. Factors that could cause actual
results to differ materially from any forward-looking information
include, but are not limited to, the risks of capital and operating
costs varying significantly from estimates, delays in obtaining or
failures to obtain required governmental, environmental or other
project approvals, inflation, delays in the development of
projects, uncertainties relating to the interpretation of the
geology, and unanticipated operational or technical difficulties
and other factors. Such forward-looking information is based on a
number of assumptions, including but not limited to, the
availability of skilled labour, availability of equipment, and
future capital and operating costs. Should one or more risks and
uncertainties materialize or should any assumptions prove
incorrect, then actual results could vary materially from those
expressed or implied in the forward-looking information and
accordingly, readers are cautioned not to place undue reliance on
this forward-looking information. The Corporation does not assume
the obligation to revise or update this forward-looking information
after the date of this announcement or to revise such information
to reflect the occurrence of future unanticipated events, except as
may be required under applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (as that term is defined in the Policies of the TSX
Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Contacts: Harry Cabrita, President & CEO (416) 847-0189
(416) 847-0157 (FAX) info@silvorefox.com
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