Cloncurry Projects

Cloncurry Projects


Red Fox has two project areas in the Cloncurry District of Northwest Queensland.

  • Cloncurry North Project consists of three EPMs targeting Ernest Henry style IOCG targets.
  • Butchers Bore EPM is targeting high grade gold targets similar to Tick Hill.

 


Cloncurry North Project

ERNEST HENRY – Cu/Au targets

Evolution Mining earning in to Red Fox tenements over three EPMs, targeting geophysical anomalies under shallow cover

  • EPM 26010 (Ernest Henry West)
  • EPM 26332 (Ernest Henry South)
  • EPM 26872 (Gipsy Creek)

Red Fox’s Cloncurry North Project consists of three EPMs covering a total of 200 sq km in the Cloncurry district of Northwest Queensland.  The EPMs are located adjacent to the Ernest Henry (166 Mt @ 1.1% Cu, 0.54g/t Au; MIM, 1998) and E1 deposits (48.1 Mt @ 0.72% Cu, 0.21 g/t Au; Exco, 2010).

The project contains a series of untested geophysical anomalies that are drill-ready targets.  All of the targets are located under approximately 50-100m of cover rocks.

At Ernest Henry West, four main targets zones have been identified:

  • FC8N – a coincident magnetic and gravity high adjacent to a conductive body interpreted to be black shales, a single drill hole by previous explorers failed to drill deep enough to intersect the core of the geophysical targets.
  • FC9N – chargeability targets at the structural intersection of the major NE and NW structures. Previous drilling was abandoned in cover rocks.
  • Stratigraphic or structurally controlled chargeability highs located along key NE structures over 4km.
  • FC10 – magnetic targets with limited driling, magnetite alteration with elevated copper values intersected in a host diorite.

Red Fox interprets the structural setting at FC8N and FC9N to be analogous to the E1 mine area (news release 16 December 2021) .

At Ernest Henry South, Red Fox has carried out  geophysical work, including MIMDAS surveys partly funded by a QLD Government grant (won by Red Fox), and aerial EM and ground gravity surveys  carried out by previous joint venture partner Rio Tinto.  This work has defined several strong conductors associated with a NW trending structure which extends south-east from the Ernest Henry deposit.  Drilling of several of the targets intersected black shale lithologies with no elevated copper values.is likely in the near future.  Magnetic targets with elevated copper values from limited previous drilling and structural targets remain to be investigated in this EPM.

Gipsy Creek contains a major conductivity anomaly defined by a magneto-tellurics (MT) survey completed by the Queensland Government.  This survey identified a series of conductive “pipes” that showed very clear correlation with the known deposits at Ernest Henry and E1.  A third pipe is located underneath Red Fox’s Gipsy Creek tenement.  Red Fox has drilled a four hole program partially funded by a $190,000 QLD government grant, to test several IP effects considered related to the pipe.  The holes aimed to test an Eloise style IOCG target zone of non magnetic sulphide dominant mineralised shear zone.  Drilling intersected minor sulphide material, particularly pyrrhotite but no elevated copper values (news release 15 June 2021).  Further structural targets remain to be investigated.

Evolution Mining Earn In details

Red Fox has signed an Earn In and Joint Venture agreement with Evolution Mining over the three EPMs in the Cloncurry North Project.  The three EPMs lie in close proximity to Evolution’s Ernest Henry Mining operation.

Evolution can earn an 80% interest in the Red Fox EPMs by funding $8M of exploration expenditure over four years including a minimum of $500,000 in the first full year of exploration.  On completion of the Earn In, a joint venture will be formed with Evolution holding 80% and Red Fox 20%.  Red Fox can choose to contribute at that point or further dilute reverting to a 2% Net Smelter Royalty in favour of Red Fox if it dilutes below 10% interest.

Further details can be found on the news release 17 January 2024.

 


BUTCHER’S BORE – Au

High grade gold in quartz vein system returning rock samples up to 17g/t Au, previous channel sample: 10m @ 25.6 g/t Au

  • EPM 26397 (Butcher’s Bore)

The target at Butcher’s Bore is Tick Hill style, high grade gold.  The Tick Hill Gold Deposit is located approximately 100km southwest of Cloncurry and produced 513,333 ounces of gold at a recovered grade of 22.6 g/t Au (MIM Annual Report), making it one of the highest grade gold deposits in Australia’s recent history.

The Butcher’s Bore tenement contains two areas of anomalous gold in stream sediment samples and rock chips, with minimal follow-up work and no previous drilling prior to red Fox commencing work in the area.

The most significant of these anomalies is the “GW Gossan”, which is a mineralised structure which extends for approximately 1km with high grade gold over  at least 50 metres of strike including a channel sample of 10m @ 25.6g/t Au. Channel samples across the strike returned 10m @ 3.4g/t Au. No drilling has been carried out on this highly mineralised outcrop.

Work by Red Fox has found:

  • Rock chip sampling up to 17g/t Au and 10.5g/t Au with numerous results over 1g/t Au.
  • Gold is associated with anomalous cobalt (max 370ppm Co), bismuth (max 83ppm Bi), molybdenum (max 51ppm Mo) and tungsten (max 930ppm W).
  • Rock chip samples show mineralised system is over 3km long.
  • Soil sampling results have refined the anomalous zone to over 1km strike length with values up to 1.05g/t Au in soils.
  • Geological mapping has identified areas where tourmaline skarns are developed along the structure.

Additional soil and rock chip sampling and mapping is required to close off the extent of the mineralised system to the west and to the southeast. Further details can be found on the news release  30 May 2022 and 3 February 2022.

At Butchers Creek, alluvial gold has been worked from  a zone of anomalous gold shown in stream samples and soil samples over 2.5km of strike.  Soil values from the area returned numerous highly anomalous values between 71 to 155ppb Au. Despite rock chips from the area returning up to 7.7g/t Au no follow up work has been done.

Red Fox will complete additional infill soil and rock chip sampling and geological mapping to define specific drill targets.


 

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