HALIFAX, NOVA SCOTIA - (Marketwire - Sept. 29, 2008) - Silvor Foxx Capital Corp. (TSX VENTURE:SFX): Mr. Harold Cabrita, President & CEO of Silvor Foxx Capital Corp. ('Silvor Foxx' or the 'Corporation') is pleased to announce an update on the Corporation's 100% owned mineral rights at Coxheath, Cape Breton Island, Nova Scotia.
The drilling program was designed to accomplish two objectives: 1) To investigate the nature of selected chargeability anomalies in the 250-350m vertical depth range that were associated with known mineralized zones at shallower depths and; 2) To extend the vertical and lateral extent of these mineralized zones, both of which were accomplished.
Eleven diamond drill holes with a combined meterage of 3,730 meters of NQ core were drilled by Maritime Diamond Drilling Limited of Hilden, Nova Scotia.
All drill holes intersected varying amounts of visible sulphide mineralization in the targeted areas indicating that sulphides are indeed present in the system to these depths (approximately 250-330m), extending the mineral potential in these areas. At the time of this release, only one assay report was available that illustrated the strong correlation between chargeability anomalies and copper mineralization in the Mountain Zone. An interval running 0.46% Cu was intersected at a depth of 325.8m to 328.8m in the first hole drilled (CR-08-55) through a chargeability anomaly that directly underlies Shaft 3 mineralization (at surface) and extends to more than 500m. Another hole (CR-08-57) identified a previously unknown near-surface zone next to the Copper Brook Mine area.
Drilling also extended the lateral extent of known mineralized zones in several other areas. The "Moly Zone", with historical Molybdenum values of 0 .32% over 50 feet (15.2 m) and 1.15% Mo over 5 feet (1.52m) may be associated with recent drilling in the Central zone. Visible Mo was intersected and traced in 5 drill holes for more than 300m as a result of the current drilling program.
Assay results from ALS Chemex are pending and will be announced soon.
The recently completed Induced Polarization (IP) survey (awaiting the final reports) in the eastern portion of the property indentified numerous IP anomalies at MacKenzie Brook, Morrison Brook and Mill Brook. The NE-SW trending anomaly at Morrison Brook is over 100m wide and more than 300m in length. The anomaly is open to the NE and SW. Three IP anomalies at MacKenzie Brook are also trending NE-SW, span more than 200m and all three are open to the NE and SW. Two anomalies at Mill Brook are mid-depth to more than 500m. The main target (down to 500m depth) is closely associated with a pyrophyllite occurrence, recently mapped by government geologists. Regional mineralization and alteration patterns are consistent with an epithermal system. A drilling program is being designed to test the recently discovered chargeability anomalies and further evaluate mineral potential in this area.
About the Corporation;
Silvor Foxx Capital Corp. is a Bedford, Nova Scotia, Canada based public mineral exploration company. On June 4th, 2008, SFX acquired 3214399 Nova Scotia Limited as a wholly owned subsidiary, including its 100% earned mineral rights to the claims at Coxheath, Cape Breton Island, Nova Scotia (known as the 'Coxheath Deposit') along with the experienced management and geological team.
The 'Coxheath Deposit' property consists of 118 contiguous claims (approximately 1910 ha) and includes underground workings in the Copper Brook Zone that were mined to a limited extent between the late 1800's and the early 1900's. There has been approximately 20,000 meters of historic and recent shallow drilling in five main zones on the property. All zones are actively being explored for their multi-element (Cu, Au, AG, Co, Mo) mineral potential.
Drilling programs in 2006 and 2007 extended known mineralized zones in the Copper Brook Zone along strike and depth. SFX is currently preparing to apply for permission to re-enter the underground workings to establish a NI 43-101 compliant resource study. Prior to the acquisition in 2007, an extensive Induced Polarization (IP) survey was conducted covering approximately 2.0 km2 (39 linekilometres) that identified 29 high priority IP targets and 26 secondary priority IP targets, with anomalies that extended from the surface to more than 500m (the maximum depth surveyed) in some areas. SFX is currently drilling these targets.
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.
Fred Bonner, P.Geo, Vice President - Exploration, is the qualified person as defined by National Instrument 43-101 who has reviewed and approved the technical information of this news release.
Forward-Looking Statements
Certain information regarding Silvor Foxx Capital Corp. (SFX) contained herein may be deemed forward looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although SFX believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. SFX cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what SFX currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements could include exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
