Calgary, Alberta–(Newsfile Corp. – October 27, 2021) – Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (“Copper Fox” or the “Company”) is pleased to provide an update on the Schaft Creek 2021 metallurgical drilling program. The Schaft Creek project is managed through the Schaft Creek Joint Venture (“SCJV”) formed in 2013 between Teck Resources Limited (“Teck”) (75%) and Copper Fox (25%) with Teck being the Operator. The Schaft Creek deposit is one of the largest undeveloped porphyry copper deposits containing significant gold, molybdenum and silver by-products in North America. Highlights of the 2021 metallurgical drilling program are set out below.
Highlights
- The primary objective of the 2021 drilling program was to collect geometallurgical samples for additional metallurgical testwork.
- The drill holes were located to expand the metallurgical sampling coverage and better inform metal recoveries and comminution characteristics within the early part of the life of mine as set out in the Preliminary Economic Assessment (“PEA”) (see News Release dated September 20, 2021).
- A total of 835 metres were completed and logged for lithological, mineralogical, alteration and geotechnical data. Analytical results are pending.
- Metallurgical samples for comminution and grinding and flotation testwork will be processed in early 2022.
- The 2021 environmental baseline program was successfully completed.
Elmer B. Stewart, President and CEO of Copper Fox stated, “The recently announced PEA recommended additional metallurgical testwork as one of several project enhancements which, if successful, could increase the overall project valuation. The 2021 drilling program provides the SCJV with the opportunity to investigate metallurgical performance enhancement. To expedite completion of the drilling program, the SCJV mobilized two drill rigs to site, however, unfavorable weather conditions impeded the ability to complete the full program in a safe manner, and as such a decision was taken to conclude drilling activity. Analytical results for the drill holes will be released when they become available, and we look forward to the start of the metallurgical testwork.”
Qualified Person
Elmer B. Stewart, MSc. P. Geol., President and CEO of Copper Fox, is the Company’s non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, has reviewed the scientific and technical information disclosed in this news release.
About Copper Fox
Copper Fox is a Tier 1 Canadian resource company focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia and the 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona. For more information on Copper Fox’s other mineral properties and investments visit the Company’s website at http://www.copperfoxmetals.com.
For additional information contact:
Lynn Ball at 1-844-464-2820 or 1-403-264-2820.
On behalf of the Board of Directors
Elmer B. Stewart
President and Chief Executive Officer
