IPM features Copper Fox Metals, a Canadian company focused on Tier 1 Copper projects in Canada & US.
240325
Today’s feature company is Copper Fox Metals (TSXV:CUU) (OTCQX:CPFXF), a Canadian exploration and development company focused on Tier 1 copper projects in Canada and the United States.
Copper Fox has assembled a balanced portfolio of two advanced stage projects, Shaft Creek in British Columbia, and Van Dyke in Arizona, and three exploration stage copper projects, Eaglehead in British Columbia, and Mineral Mountain and Sombrero Butte in Arizona.
During the three months ended January 31, 2024, the company incurred $503,344 in exploration expenditures primarily furthering the development of the Van Dyke, Mineral Mountain, Sombrero Butte and Eaglehead copper projects.
The Schaft Creek project is managed through the Schaft Creek Joint Venture with Teck Resources Limited holding 75% and Copper Fox holding 25%, with Teck as Operator.
During the quarter the company received results from the geotechnical drilling portion of the CDN$17.2 million 2023 program.
Drilling intersected significant intervals of porphyry mineralization in 5 holes including DDH SCK-23-468, which intersected the following higher-grade mineralization:
A 166.40 m core interval from 295.10 to 461.50 m averaged 0.308% copper, 0.019% molybdenum, 0.117g/t gold and 0.82g/t silver including a 33.68 m interval from 427.82 to 461.50 m that averaged 0.602% copper, 0.033% molybdenum, 0.228g/t gold and 1.28 g/t silver, and
A 206.14 m core interval from 481.80 to 687.94 m averaged 0.494% copper, 0.029% molybdenum, 0.282g/t gold and 1.79g/t silver, including a 90.70 m core interval from 481.80 to 572.50 m that averaged
0.710 % copper, 0.042% molybdenum, 0.305 g/t gold and 2.09 g/t silver.
At the 100% owned Van Dyke, the mineral solubility/mineralogical testwork indicated a high degree of oxidization, rapid leaching rates for the copper minerals and low acid consuming gangue and host rock mineralogy. This work investigated two key project parameters and indicated low potential to generate carbon dioxide gas and the precipitation of gypsum during leaching operations; two operational issues that significantly impact copper production.
Elmer B. Stewart, President and CEO, stated: "During the Quarter, activities consisted of further derisking of the Van Dyke project by Copper Fox and the Schaft Creek project by the Schaft Creek Joint Venture. The SCJV completed the most comprehensive field program completed to date and subsequent to the Quarter-end announced a C$18.7 million program and budget for 2024 to complete the studies required to transition the project from the Scoping to the Prefeasibility Study stage by the end of 2024 or early 2025. Completion of the drillhole rehabilitation program at Van Dyke allows the Company to initiate the collection of hydrogeological and water quality data; key data that is required to advance the project to the permitting stage.”
At Mineral Mountain, the 2023 geophysical program outlined a large, open-ended positive chargeability/ resistivity anomaly at depth ranging between 300 to 500 m underlying the porphyry "footprint“, a setting similar to the buried Resolution porphyry copper deposit to the northeast and the Florence porphyry copper deposit to the southwest.
Elmer B. Stewart added: “Exploration activities on our 100% owned Eaglehead, Mineral Mountain and Sombrero Butte projects all yielded positive results. The Company extended the term of the exploration permit by two years on the Eaglehead project by filing a Notification of Deemed Authorization in February with the BC Ministry of Mines. An exploration plan to conduct a "maiden" drilling program at Mineral Mountain has been submitted to the Arizona Bureau of Land Management and is currently under review. The hyperspectral survey at Sombrero Butte identified a significant number of previously unknown magmatic breccia bodies suggesting the possibility of multiple porphyry centers."
The CDN$18.7 million Schaft Creek program, fully funded by Teck, will include 4,500 m of drilling focused on key technical areas including the Highwall, Tailing Storage Facility, and Rock Storage Facility.
The shares are trading at $0.18.
For more information, please visit the company’s website www.CopperFoxMetals.com, or for investor relations contact Fidel Montegu at 604-358-4005 or by email at [email protected]
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