Business
Copper Fox Provides Update on Schaft Creek Program
Calgary, Alberta--(Newsfile Corp. - September 20, 2023) - Copper Fox Metals Inc. (TSXV: CUU) (OT...
About this update from Copper Fox Metals Inc.
[{"type":"text","content":"Copper Fox Provides Update on Schaft Creek ProgramCalgary, Alberta--(Newsfile Corp. - September 20, 2023) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (\"Copper Fox\" or the \"Company\") is pleased to provide its shareholders an update on 2023 activities on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia. 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 details of the planned 2023 Schaft Creek program are set out in a news release dated March 2, 2023. The budget for the 2023 Schaft Creek program is $17.2 million, fully funded by Teck.HighlightsThe 2023 Schaft Creek geotechnical drilling program is focused on collecting data to inform and optimize the pit design, life of mine strip ratio, and to gain a better understanding of the pit slope hydrogeology. A total of 3,062 meters has been drilled to date with 4 complete holes and 4 holes in progress. Community engagement with the Tahltan Nation is continuing.The metallurgical testwork (76 samples) portion of the 2023 Schaft Creek program is progressing with results expected by the end of November. The variability sampling will provide an update of copper, gold, molybdenum, and silver recovery in addition to comminution data. The test program will also characterize tailings material which will better inform planned tailings management and storage.Hydrogeological, environmental, and social baseline work is ongoing. The planned archeological, wildlife, and ecosystem field studies for 2023 have been completed.Elmer B. Stewart, President and CEO of Copper Fox, stated, \"We are pleased to see the progress in collecting data to further investigate two of the project enhancements outlined in the 2021 Schaft Creek Preliminary Economic Assessment. Geotechnical drilling is being completed up-slope of the Schaft Creek deposit in an area of extensively broken and fractured rock. While the drilling is progressing slower than expected, most importantly by the end of the 2023 program, eight additional drillholes will have been completed in the \"high wall\" of the Schaft Creek deposit. The metallurgical and monthly environmental sampling programs are ongoing. The pl...