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Copper Fox Provides Further Update on the Preliminary Economic Assessment for Van Dyke
Calgary, Alberta--(Newsfile Corp. - November 3, 2020) -   Copper Fox Metals Inc. (TSXV: C...
About this update from Copper Fox Metals Inc.
[{"type":"text","content":"Copper Fox Provides Further Update on the Preliminary Economic Assessment for Van DykeCalgary, Alberta--(Newsfile Corp. - November 3, 2020) -  Copper Fox Metals Inc. (TSXV: CUU) (\"Copper Fox\" or the \"Company\") and its wholly owned subsidiary Desert Fox Copper Inc. (\"Desert Fox\") report that the metallurgical and process portion of the Preliminary Economic Assessment (\"PEA\") along with copper production schedules on its 100% owned Van Dyke ISCR project have been completed. Moose Mountain Technical Services (\"MMTS\") is managing preparation of the PEA. Highlights are:The base case annual production has been set at 85 Mlbs/year compared to 60 Mlbs/year in 2015.The base case production scenario yields an 18-year life of mine (\"LOM\") compared an 11-year LOM in 2015.There is an overall reduction in average well length and metres drilled LOM. An overall sweep efficiency of 89% has been used with pre-conditioning of the rock accounted for to ensure connectivity of fracturing for copper recovery. Metallurgical recovery at 90%, unchanged from the May 4, 2020 resource estimate.Preparation of pre-tax and post tax cash flow models in progress.Elmer B. Stewart, President and CEO of Copper Fox, stated, \"With completion of these portions of the PEA, MMTS can complete the capital, operating and sustaining costs estimates and cash flow models. The 85Mlbs/year production scenario resulted from a trade-off study that contemplated mine life, capital costs and future development of the project based on exploration potential. With the considerable progress to date, the PEA is expected to be completed by the end of November 2020.\"The PEA is conceptual in nature and is being completed at an order of magnitude (plus or minus 35 per cent) comparable with a preliminary economic assessment level of study. Background to the Updated PEAThe initial progress report and resource statement for the PEA is set out in a news release dated October 7, 2020. 2020 PEA UpdatesWell Field Design/Copper Recovery Plan:The injection/recovery well field layout contemplates two phases in line with the underground development plan. The proposed copper production schedule is based on completing the required number of injection and recovery wells each year to maintain production with approximately 1,900 injection and recovery wells required over LOM. An overall r...