Deep Fox Resource

Deep Fox (formerly Deepwater Fox) is located just 2 km northeast of the port of St. Lewis on the southeast Labrador coast, within 12 km of the Foxtrot resource. It became Search’s second major discovery within the Fox Harbour volcanic belt (part of the Critical Rare Earth Element District) following an initial channel sampling program during the 2014 field season.

Based on channel samples and other information, we determined the following:

  • The geology and mineralization at Deep Fox is the same as at Foxtrot
  • At 400 metres, Deep Fox is similar in strike extension to Foxtrot
  • Mineralized zone widths are as wide or wider (up to 30 m) than at Foxtrot
  • Mineralized channel sample assays are on average greater than 15% higher than those at Foxtrot

Subsequent drilling has provided more details about this promising resource:

The Phase 1 Deep Fox Drill Program consisted of a total of 15 holes (three in 2017 and 12 in 2018) to sample CREE mineralization at 50m (10 hole) and 100m (5 holes) levels below the surface.

The Phase 2 Deep Fox Drill Program consisted of a total of eight holes (three holes on the 100m level, two holes on the 150m level, and three holes on the 200m level). Assay results indicate that mineralized intervals have true width zones (either continuous mineralization or as 2 to 3 units over 3m) of 11m to 32m at the 50m and 100m levels below the surface. Extensive drilling at the 50m (Phase 1) and 100m levels (Phase 1 and Phase 2) indicates that the mineralization has a strike length of at least 350m. Mineralization intersected at the 200m-level (Phase 2) indicates taht the mineralized zone is open below this depth.

The recently completed Deep Fox Phase 3 program, totaling about 7,000m and 38 holes, has provided information that extends the resource to 200m depth (50 x 50m grid) and will help evaluate the requirement of a 25 x 25m drill grid for measured resource (bankable feasibility study requirement); some measured resource is anticipated from Phase 3 results. A geotechnical program, totaling 10-120 holes and 2,000-2,500m, is required in 2022 to obtain geotechnical data for the open pit proposed in the updated Preliminary Economic Assessment; this data will be suitable for a bankable feasibility study. A 2022 Phase 4 drilling program, estimated to total 35-40 holes and about 10,000-12,000m, will provide indicated and measured resources that are required for a bankable feasibility program. The geotechnical and Phase 4 program planning require data from the Phase 3 program, subsequent resource estimate, and pit shell to finalize plans.

Deep Fox is an exciting resource in an excellent location. Reserves extracted here would be close enough to the proposed Foxtrot mine development to provide additional feed to either extend the life of the overall operation or facilitate scaling up for greater operational economies.

Deep Fox Status Update

Here are the activities undertaken at Deep Fox so far, plus what’s underway as we work toward our 2025 production target:

  • Phase I and Phase II drilling (October 2018, February 2019) ✓
  • Resource estimate (March 2020) ✓
  • Phase III drilling exploring to 250m depth ✓
  • Updated resource estimate based on Phase III drilling ✓
  • Preliminary Economy Assessment report – 2022 ✓
  • 14,000m of Phase IV drilling to support feasibility assessment – 2022
  • Geotechnical assessment for feasibility – 2022
  • Advance design engineering for mine and concentrator – 2022

The table below summarizes the resource estimate for the Deep Fox project, updated in April 2022:

Classification Tonnage (000s t) Pr ppm Nd ppm Dy ppm Tb ppm
Open Pit
Indicated 3,906 399 1,482 201 34
Inferred 1,028 332 1,243 181 30
Underground
Indicated 1,148 378 1,426 203 34
Inferred 2,269 382 1,443 206 35
Total indicated 5,054 394 1,469 202 34
Total inferred 3,297 366 1,381 198 33

Learn more about the Foxtrot Resource
Learn more about the Silver Fox Prospect
Learn more about the Fox Meadow Prospect