Business
Copper Fox Metals Provides Corporate Update
Calgary, Alberta--(Newsfile Corp. - July 13, 2023) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) ("Copper Fox" or the "Company") is pleased to provide an
About this update from Copper Fox Metals Inc.
[{"type":"text","content":" Calgary, Alberta--(Newsfile Corp. - July 13, 2023) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (\"Copper Fox\" or the \"Company\") is pleased to provide an update on project activities including the Schaft Creek project. The Schaft Creek project is managed through the Schaft Creek Joint Venture (\"SCJV\"). Teck Resources Limited (\"Teck\") is the Operator of the SCJV and holds a 75% interest with Copper Fox holding the remaining 25% interest. The Schaft Creek deposit, located in northwestern British Columbia, is one of the largest undeveloped porphyry copper deposits in North America that contains significant gold-molybdenum-silver by-products. Elmer B. Stewart, President, and CEO of Copper Fox, stated, \"The results from the 2023 Schaft Creek program will be critical to advancing development as the joint venture continues its efforts to surface additional value in the Schaft Creek project. The results to date on Copper Fox's operated projects are encouraging and continue to advance each project in line with the Company's stage gate approach to project development. Advancing to an updated mineral resource estimation for Eaglehead is a project 'milestone'. Depending on the results of the estimate it is expected to provide optimal drill hole locations and technical justification for additional drilling to continue testing the mineral potential of the project.\" Schaft Creek The 2023 geotechnical drilling program has commenced utilizing four diamond drills. In addition, metallurgical testwork of samples selected from the 2021 and 2022 drilling programs have initiated. The full 2023 program (see news release dated March 2, 2023) is budgeted at C$17.2 million which is fully funded by Teck pursuant to the SCJV Agreement. Van Dyke Sample selection for the mineralogical, solubility, whole rock and trace element studies has been completed. The samples have been submitted to Base Met Labs US LTD in Tucson, Arizona, for \"bottle roll\" testing to obtain more specific data on the solubility of the secondary copper minerals within the proposed Phase 1 mine plan set out in the 2020 Preliminary Economic Assessment (see news release dated January 12, 2021). It is expected that data from the solubility tests could allow Copper Fox to better predict potential future copper production from the Van Dyke project. The mineralo...