Halifax, Nova Scotia -- Silvore Fox Minerals Corp. (TSXV: SFX) (the Corporation) is pleased to announce the appointment of George Supol (C.A.) as Chief Financial Officer of the Corporation. Mr. Supol is also Chief Financial Officer of Viking Gold Exploration Inc., and is a Chartered Accountant with an added speciality in Information Technology. He is also the founder and President of inbusys inc., a Toronto-based consulting firm which services both corporate I.T. and accounting clients.
The Corporation also announces that it has granted an option to George Supol to purchase 100,000 Common Shares of the Corporation at a price of $0.11 per share, which option is to expire on November 30, 2015.
"I am pleased to announce that George has accepted the invitation to become Silvore Fox's Chief Financial Officer. His experience in our sector will provide valuable guidance as we continue to grow," states Harry Cabrita, President and Chief Executive Officer.
The Corporation also announces that Mr. Cameron McIntosh, Chief Financial Officer, and Mr. Stephen Webster, Secretary, have resigned from their respective positions. Both Mr. McIntosh and Mr. Webster were founding members of Silvor Foxx Capital Corp., the CPC Corporation that made its qualifying transaction on the Coxheath Deposit. Both Mr. McIntosh and Mr. Webster agreed to stay with the Corporation, post CPC transaction, to facilitate the orderly transition to a suitable replacement. The Corporation wishes to thank Mr. Webster and Mr. McIntosh for their dedicated service to the Corporation. The Corporation also advises that Fred Bonner, Vice-President, Operations, has also resigned from his position, effectively immediately. The Corporation would also like to thank Mr. Bonner for his professional contributions and wish him well in his new endeavours.
Helen Gao, Vice-President, replaces Mr. Webster as Secretary.
The Coxheath Hills Claims are mainly underlain by a northeast-southwest trending belt of Precambrian plutonic-volcanic rocks in south eastern, Cape Breton Island, N.S. This is the westernmost of four plutonic-volcanic belts that forms part of the Avalon Terrane of the Canadian Appalachians and are considered to represent the remnants of an ancient, continental-margin volcanic/plutonic arc system in association with a west-ward dipping subduction zone.
A thick sequence of volcanic rocks consisting of rhyolite, andesite, basalt and tuff (Coxheath Group) in the north eastern portion of the property, are the oldest units. The volcanics have been intruded by a large coeval pluton (Coxheath Hills Pluton) of dioritic to granitic composition, in the western portion of the property. The entire sequence has been metamorphosed to greenschist or sub-greenschist facies and has undergone upright folding and tilting during the Middle Paleozoic and form topographic ridges across the property.
Two distinct areas are the focus of exploration work on these claims. The first area includes the historic Coxheath Copper Deposit and is located in the western portion of the claim area. Mine development was restricted to a series of shear zones in the Copper Brook Area. Significant mineralization also occurs around the old mine. Four main areas have been identified including the Mountain Mine Area, the Deep Pit Zone, the Aquitaine/Argyle Area and the Central Zone. Newly discovered mineralization in this area suggests that the Coxheath Deposit is a Cu-Mo-Au porphyry system.
The second area of exploration focus is in the eastern portion of the claim block approximately 4 km to the northeast of the main Coxheath Deposit.
Intensely altered shear zones in felsic volcanics contain extensive pyrophyllite mineralization. The combination of the regional geological setting, the structural geology and alteration patterns in this area suggests a genetic link with the Coxheath Deposit, which is consistent with deposit models linking porphyry copper and epithermal gold systems.
Please visit our NI 43.101 for further details.
The Coxheath Hills Claims are mainly underlain by a northeast-southwest trending belt of Precambrian plutonic-volcanic rocks in south eastern, Cape Breton Island, N.S. This is the westernmost of four plutonic-volcanic belts that forms part of the Avalon Terrane of the Canadian Appalachians and are considered to represent the remnants of an ancient, continental-margin volcanic/plutonic arc system in association with a west-ward dipping subduction zone.
A thick sequence of volcanic rocks consisting of rhyolite, andesite, basalt and tuff (Coxheath Group) in the north eastern portion of the property, are the oldest units. The volcanics have been intruded by a large coeval pluton (Coxheath Hills Pluton) of dioritic to granitic composition, in the western portion of the property. The entire sequence has been metamorphosed to greenschist or sub-greenschist facies and has undergone upright folding and tilting during the Middle Paleozoic and form topographic ridges across the property.
Two distinct areas are the focus of exploration work on these claims. The first area includes the historic Coxheath Copper Deposit and is located in the western portion of the claim area. Mine development was restricted to a series of shear zones in the Copper Brook Area. Significant mineralization also occurs around the old mine. Four main areas have been identified including the Mountain Mine Area, the Deep Pit Zone, the Aquitaine/Argyle Area and the Central Zone. Newly discovered mineralization in this area suggests that the Coxheath Deposit is a Cu-Mo-Au porphyry system.
The second area of exploration focus is in the eastern portion of the claim block approximately 4 km to the northeast of the main Coxheath Deposit.
Intensely altered shear zones in felsic volcanics contain extensive pyrophyllite mineralization. The combination of the regional geological setting, the structural geology and alteration patterns in this area suggests a genetic link with the Coxheath Deposit, which is consistent with deposit models linking porphyry copper and epithermal gold systems.
Please visit our NI 43.101 for further details.
Silvore Fox optioned claims in the Winston Lake area near Schreiber, ON from Orebot Inc on February 8, 2011. In the months following this event we analyzed existing geological and geophysical data to determine possible trends and high priority target areas surrounding the optioned Orebot properties and staked additional claims in the area (see map below) that bring the total land package under our control to 9,760 Hectares (610 total claims) of potentially favorable geology, all with 100% interest and no NSR (net smelter royalty).
This area hosts the highest grade Zinc deposit registered in Ontario (http://www.mndm.gov.on.ca/mines/ogs/resgeol/rfe/documents/zinc.pdf). VMS systems such as exists in the Winston Lake area can typically produce clusters of deposits in relatively close proximity to each other. Our goal is to find large tonnage deposits of a similarly high grade to the Winston and Pick Lake deposits.
As there were 2 underground mines working within 1.3 km of each other in this area during the 1990's (Winston Lake mine and Pick Lake mine) extensive infrastructure is already in place.
Note that Inmet Mining retains control over the area indicated in the map below which includes the Winston Lake mine, which has been mined out.
Silvore Fox optioned claims in the Winston Lake area near Schreiber, ON from Orebot Inc on February 8, 2011. In the months following this event we analyzed existing geological and geophysical data to determine possible trends and high priority target areas surrounding the optioned Orebot properties and staked additional claims in the area (see map below) that bring the total land package under our control to 9,760 Hectares (610 total claims) of potentially favorable geology, all with 100% interest and no NSR (net smelter royalty).
This area hosts the highest grade Zinc deposit registered in Ontario (http://www.mndm.gov.on.ca/mines/ogs/resgeol/rfe/documents/zinc.pdf). VMS systems such as exists in the Winston Lake area can typically produce clusters of deposits in relatively close proximity to each other. Our goal is to find large tonnage deposits of a similarly high grade to the Winston and Pick Lake deposits.
As there were 2 underground mines working within 1.3 km of each other in this area during the 1990's (Winston Lake mine and Pick Lake mine) extensive infrastructure is already in place.
Note that Inmet Mining retains control over the area indicated in the map below which includes the Winston Lake mine, which has been mined out.
