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Copper Fox Files Preliminary Economic Assessment of Van Dyke Project on SEDAR
Calgary, Alberta--(Newsfile Corp. - March 1, 2021) - Copper Fox Metals Inc. (TSXV: CUU) (...
About this update from Copper Fox Metals Inc.
[{"type":"text","content":"Copper Fox Files Preliminary Economic Assessment of Van Dyke Project on SEDARCalgary, Alberta--(Newsfile Corp. - March 1, 2021) - Copper Fox Metals Inc. (TSXV: CUU) ('Copper Fox' or the 'Company'), through its wholly owned subsidiary Desert Fox Copper Inc., are pleased to report that it has filed on SEDAR a National Instrument 43-101 (\"NI 43-101\") technical report titled \"NI 43-101 Preliminary Economic Assessment Technical Report for the Van Dyke Copper Project\" dated February 26, 2021, prepared by Moose Mountain Technical Services (\"MMTS\") and Ausenco. The results of the Preliminary Economic Assessment (\"PEA\") for the Van Dyke project were disclosed in a previous news release dated January 12, 2021. Elmer B. Stewart, President and CEO of Copper Fox stated, \"The four-fold increase in value over that demonstrated by the 2015 PEA, and significant potential to increase the resource base through exploration, has shown the Van Dyke deposit to be a technically sound, in-situ copper recovery (ISCR) project. While the PEA is preliminary in nature, the results of which are speculative, the study has indicated several opportunities for additional value-added work programs to be completed which, if successful, would significantly de-risk the project.\"PEA Recommendations:A diamond drilling program to expand the size of the resource and upgrade the existing Indicated and Inferred Resources to a higher resource classification.Proceed to the permitting stage to obtain an Arizona Protection Permit and the Underground Injection Control Permit for Class III Wells. Complete an ISCR pilot test program designed to further investigate overall metal recoveries, connectivity between wells, refine well field design, and determine the extent of rock stimulation required, if any. The total recommended budget is estimated to be $US15.5 million.The PEA used the technical report that Copper Fox filed on SEDAR May 5, 2020 entitled \"NI 43-101 Technical Report and Updated Resource Estimate for the Van Dyke Copper Project\" dated May 4, 2020 with Ms. Sue Bird, P.Eng and R. Lane P.Geo, as Qualified Persons. The 2020 resource estimate resulted in an upgrade in resource classification and an increase in soluble copper content of the deposit.2020 Resource Estimate used in the 2020 PEA:Metal (Mlbs)ClassKTonnesTCu (%)ASCu (%)CNCu (%)RecCu (%)Recovery (%)Sol...