Copper Fox acquires Van Dyke Copper Deposit in Arizona

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[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, April 12, 2013 /CNW/ - Mr. Elmer Stewart, President and CEO\n of Copper Fox Metals Inc. (\"Copper Fox\" or the \"Company\") (TSX-V: CUU) is pleased to announce the acquisition of 100% of the interests of Bell\n Resources (Nevada) Corporation, a related entity of Bell Copper\n Corporation (\"Bell Copper\") in the Van Dyke copper deposit (the \"Van\n Dyke Deposit\") located in Miami, Arizona (see News Release dated July\n 9, 2012).  Under the terms of the acquisition, Copper Fox acquired the\n Van Dyke Deposit by paying to Bell Copper CDN$500,000 in cash, paying\n to the vendors of the Van Dyke Deposit US$1.5 million and assuming the\n continuing obligations in respect of the Van Dyke Deposit, subject to\n certain amended terms and conditions.\n\n\nHighlights:\n\n\na)     \n\n\nA number of historical studies have been completed on the Van Dyke\n Deposit between 1973 and 1981 by Occidental Minerals Corporation\n (\"Occidental\"), AMAX and Utah, all large copper producing companies at\n that time,\n\n\nb)     \n\n\nA historical estimate* of 119.2 million tons of oxide copper\n mineralization with an average grade of 0.52% copper (estimated to\n contain 1.2 billion pounds of copper) prepared by Occidental in 1976 is\n reported for the Van Dyke Deposit,\n\n\nc)     \n\n\nDiamond drilling on the Van Dyke deposit indicates several extensions\n including the reported existence of primary sulphide copper\n mineralization below and to the east of the oxide mineralization, and\n\n\nd)     \n\n\nPreliminary in-situ leaching metallurgical testwork indicated copper\n recoveries up to 80% using hydrofracturing to improve fluid\n circulation.\n\n\n\n\n\n*The historical estimate reported for the Van Dyke Deposit is historical\n in nature, Copper Fox wishes to clarify that an independent Qualified\n Person has not done sufficient work to classify the historical estimate\n as current mineral resources or mineral reserves, and accordingly,\n Copper Fox is not treating the above historical estimate as current\n mineral resources or mineral reserves. In order to verify the\n historical reserves a current Feasibility Study would be required which\n would include additional diamond drilling, metallurgical testwork,\n updated co...

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