Business
Copper Fox Announces a Positive Feasibility Study on the Schaft Creek Deposit
Open Pit Mining, Processing at a Nominal Rate of 130,000 Tonnes Per Day; A 21 Year Mine Li...
About this update from Copper Fox Metals Inc.
[{"type":"text","content":"\n\n\n\n\n\nOpen Pit Mining, Processing at a Nominal Rate of 130,000 Tonnes Per Day;\n A 21 Year Mine Life Producing 4.88 Billion Pounds of Copper, 4.21\n Million Ounces of Gold, 25.10 Million Ounces of Silver and 214.92\n Million Pounds of Molybdenum\n\n\nVANCOUVER, Dec. 21, 2012 /CNW/ - Copper Fox Metals Inc. ('Copper Fox' or the 'Company') (TSX-V: CUU) is very pleased to announce the results of a positive Feasibility Study\n on the Schaft Creek Project located in northwestern British Columbia,\n Canada.  The Feasibility Study was prepared under the direction of\n Tetra Tech, an industry leading international engineering firm, with a\n high level review of capital cost completed by Merit Consultants\n International Inc. ('Merit'), and an internal review conducted by Matt\n Bender, MBA, P.E.  The Feasibility Study, with capital costs defined to\n within plus/minus 15%, builds upon the previous Preliminary Economic\n Assessment and Preliminary Feasibility Study prepared by Samuel\n Engineering, Inc. in January and September of 2008 and metallurgical\n and geotechnical work completed in 2009, 2010, 2011 and 2012.\n\n\nMr. Elmer Stewart, President & CEO said \"I am extremely proud of the\n work put into this Feasibility Study by the Copper Fox team and its\n capable consultants.  Like all large scale projects located in alpine\n type terrain, this project did come with its own unique technical\n challenges. At an 8% discount rate as required in the Teck Option\n Agreement, the Feasibility Study confirms the technical and financial\n viability of a nominal 130,000 tonne-per-day ('tpd') copper mining and\n processing operation at Schaft Creek.  The Company will host a webcast\n conference call in mid-January, details will follow by way of a\n separate news release.\"\n\n\nThe Feasibility Study recommends diamond drilling to determine the\n extent to which the 171.16 million tonnes of inferred resource that lie\n within the proposed open pit, now treated as waste, can be upgraded to\n either a Measured or Indicated Mineral Resource.  If successful, this\n would categorize this rock as a revenue generator.\n\n\nThe project has a nominal 130,000 tpd milling capacity over a 21 year\n mine life representing a 30% increase from that proposed in the\n Preliminary Feasibility Study prepared in September 2008, wi...