Arctic Fox Minerals Corp 2021 Exploration Summary
ARCTIC FOX MINERALS CORP 2021
EXPLORATION SUMMARY
TORONTO
,
July 19, 2022
/CNW/ -
Arctic Fox Minerals Corp. ("Arctic Fox"
or the "
Company
") is
pleased to provide this exploration summary of the Company's 2021 exploration program on its
flagship Up Town Gold Project ("
Project
" or "
Property
") located 4 km's from
Yellowknife
, NWT,
within the historic
Yellowknife
gold belt.
Prior to the Company's public listing in June of 2022, Arctic Fox conducted a winter drill program
between
October 5
th
-31
st
, 2021 to further define and identify new zones of gold mineralization at the
Property. A total of 976 metres was drilled in 20 diamond drill holes, from which 240 samples were
collected for geochemical analysis. Drill core was logged and sampled at a facility in
Yellowknife
and
samples were submitted to ALS Global Labs, an independent and ISO accredited facility (ISO/IEC
17025 and ISO 9001).
Showings and Zones of Mineralization (CNW Group/Arctic Fox Minerals Corp.)
Diamond drilling completed in 2021 was designed to test gold-bearing silicified shear zones that
have been identified at surface in several areas of the Property. Gold mineralization was intersected
in all drill holes, and analytical results from 2021 drill samples compare well with those collected
from outcrop at surface, as well as what has been reported historically. To date, sample results are
most significant at the Fox South Zone where surface and 2021 drill samples consistently return
considerable grades.
Fox South Zone
A total of four holes were drilled from one setup location in 2021 for a total of 208 metres. Drill
collars were selected to test the southern extension of previously identified gold-bearing shear
zones. Mineralization is most consistent at the Fox South Zone where drill samples returned the
highest and most comparable sample grades of any zone. The two most significant intervals in the
Fox South Zone were 4.62 g/t Au over
1.61 m
, including
0.76 m
of 8.79 g/t Au in hole UTG-21-002;
and 4.5 g/t Au over
1.69 m
, including 8.62 g/t Au over
0.44 m
in hole UTG-21-003.
2021 Drill Hole
Sample No.
From (m)
To (m)
Interval (m)
Au (g/t)
UTG-21-002
Y032274
28.85
29.3
0.45
1.01
UTG-21-002
Y032275
29.3
29.7
0.4
0.76
UTG-21-002
Y032276
29.7
30.46
0.76
8.79
2021 Drill Hole
Sample No.
From (m)
To (m)
Interval (m)
Au (g/t)
UTG-21-003
Y032291
15.61
16.16
0.55
2.87
UTG-21-003
Y032292
16.16
16.56
0.4
2.09
UTG-21-003
Y032293
16.56
17
0.44
8.62
UTG-21-003
Y032294
17
17.3
0.3
4.84
Work completed to date on the Property, both historical and current, demonstrates the potential for
the Project. Future work at the Property will focus on further delineation of broader structural zones
as these are commonly areas found to contain significant gold mineralization. The company is
pleased with results to date and is looking forward to outlining a summer and fall exploration plan for
the Property.
For further details from the 2021 drill program, please refer to the Up Town Gold Property Technical
Report on SEDAR (
www.sedar.com
).
Qualified Persons, Technical Information and Quality Control Notes
Samples and maps prepared in this press release have been done in accordance with National
Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101)". Reported intervals
are down-hole intervals, true thicknesses for reported results have not been calculated. Multi-interval
gold values are reported as weighted averages.
Michael MacMorran
, P. Geo., who is a "Qualified Person" ("QP") within the context of NI 43-101 is
responsible for the preparation and review of the technical information being reported in this press
release.
Arctic Fox's ongoing Quality Assurance and Quality Control programs include auditing of all
exploration data. Any significant changes will be reported when available.
About the Company
Arctic Fox is a resource exploration company specialized in precious metals exploration in the
Northwest Territories
. Arctic Fox is currently advancing the Up Town Gold Project located in
Yellowknife
, NWT, adjacent to the past producing Giant Mine. The Up Town property is situated off
a major highway, near power and large past producing mines, and within commuting distance from
the city of
Yellowknife
. Arctic Fox trades on the Canadian Securities Exchange under the symbol
"FOXY".
On Behalf of the Board of Directors
"Dixon Lawson"
Dixon Lawson
Chief Executive Officer
604-754-8255
FORWARD LOOKING INFORMATION
Certain statements in this news release are forward-looking statements, including with respect to
future plans, and other matters. Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs, plans, expectations or intentions
regarding the future. Such information can generally be identified by the use of forwarding-looking
wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the
negative thereof or similar variations. The reader is cautioned that assumptions used in the
preparation of any forward-looking information may prove to be incorrect. Events or circumstances
may cause actual results to differ materially from those predicted, as a result of numerous known
and unknown risks, uncertainties, and other factors, many of which are beyond the control of the
Company, including but not limited to, business, economic and capital market conditions, the
ability to manage operating expenses, and dependence on key personnel. Such statements and
information are based on numerous assumptions regarding present and future business strategies
and the environment in which the Company will operate in the future, anticipated costs, and the
ability to achieve goals. Factors that could cause the actual results to differ materially from those in
forward-looking statements include, the continued availability of capital and financing, litigation,
failure of counterparties to perform their contractual obligations, loss of key employees and
consultants, and general economic, market or business conditions. Forward-looking statements
contained in this news release are expressly qualified by this cautionary statement. The reader is
cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this
news release. Except as required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
The Canadian Securities Exchange has not reviewed this press release and does not accept
responsibility for the adequacy or accuracy of this news release.
SOURCE
Arctic Fox Minerals Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/July2022/19/c5218.html
%SEDAR: 00051878E
For further information:
Dixon Lawson, Chief Executive Officer, [email protected],
604-754-8255
CO: Arctic Fox Minerals Corp.
CNW 12:00e 19-JUL-22