Silvore Fox Minerals Corp.
TSX VENTURE : SFX

Silvore Fox Minerals Corp.

October 25, 2010 09:54 ET

Silvore Fox Minerals Corp. Announces Completion of Drilling & High Grade Moly Uncovered Extensively at Coxheath's "Moly Zone"

HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 25, 2010) - Silvore Fox Minerals Corp. (TSX VENTURE:SFX) (the "Corporation") is pleased to announce the completion of a trenching and drilling program at the Corporations Coxheath Property. 

An extensive trenching and stripping program in the Moly Zone that entailed the re-excavation of old Mariner Mines trenches from the 1960's and the excavation of a series of new trenches exposed highly visible, coarse-grained molybdenite, chalcopyrite and bornite. The Corporation previously established a positive correlation between the occurrence of bornite and anomalous gold values. The purpose of the trenching program was to better understand the orientation and distribution of the molybdenum, copper and gold mineralization and to trace mineralization across the Moly Zone prior to drilling.

Numerous veins and veinlets containing molybdenite, chalcopyrite and bornite were mapped across a 100 metre area and appear to occur in a zoned mineral assemblage. A channel sampling program is now underway to systematically sample across a number of these trenches. Results from 118m of samples are expected in mid- to late November.

A 2,550 meters NQ drill program was also recently completed at Coxheath. A series of 8 Drill holes were designed to intersect copper and moly mineralization at depth as seen at surface and to acquire more structural information in mineralized zones. A number of drill holes intersected coarse-grained molybdenite, chalcopyrite and bornite at varying depths with multiple intercepts visible in each Drill Hole; 1880 samples have been sent to ALS Chemex for analysis with the results of the drill core sampling program being announced as soon as they become available.

Previous drilling by Mariner Mines Ltd. intersected copper, molybdenum and gold mineralization in the Central and Moly Zones at Coxheath. The area is underlain by multiple intrusive bodies that are believed to be responsible for the diorite-hosted mineralization and structural controls on mineralization. Thinly sheeted quartz veins and veinlets, ranging from 1mm to several mm occur in structural zones within the diorite, which appear to be consistent with porphyry style deposits.

Historical intersections (non-43-101 compliant) from Mariner Mines drilling include:

Hole # (Moly Zone) Core Length (m) Moly (%) Copper (%)
MM03 18.3 0.152% 0.07%
76.2m 0.041% 0.08%
12m 0.07% 0.14%
MM10 3m 0.133% 0.07%
7.62m 0.154% 0.07%
24.3m 0.068% 0.10%

 

Hole # (Central Zone) Core Length (m) Copper (%) Gold (ppm) Silver (ppm)
MM25 51.8m 0.21% N/A1 N/A
Incl 6.1m 0.82% 1.63 1.4
  63.7m 0.35% N/A N/A
Incl 18.3m 0.76% 1.89 1.66
Incl 4.57m 1.27% 4.04 3.42
MM38 16.8m 0.28% N/A N/A

1No Assay (N/A): Mariner Mines Ltd. only analyzed selected intersections for gold and silver. 

Note: No analyses have been received to establish grades whatsoever.

Fred Bonner, P.Geo, Vice President -- Operations, is the qualified person as defined by National Instrument 43-101, who has reviewed and approved the technical information presented above.

About Silvore Fox Minerals Corp.

Silvore Fox Minerals Corp. ("SFX") is a Bedford, Nova Scotia, Canada based public mineral exploration company with 100% mineral rights to the claims at Coxheath, Cape Breton Island, Nova Scotia (known as the 'Coxheath Deposit'). SFX has recently assembled a world class management and geological team.

The Coxheath deposit model is believed to be analogous to Pacific Rim volcanogenic porphyry copper deposits. Alteration patterns in association with the regional geological setting further suggest a possible model linking the diorite‐hosted porphyry‐style mineralization at Coxheath and an epithermal system approximately 4 km to the east. SFX's option and joint venture agreements for the 'Oceanview', 'Nictaux' and 'Shortliff' properties, strengthens SFX's position as a regional mineral exploration company.

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.

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