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Copper Fox Provides Update on the Van Dyke Copper Project
Calgary, Alberta--(Newsfile Corp. - May 11, 2023) - Copper Fox Metals Inc.  (TSXV: CUU) (O...
About this update from Copper Fox Metals Inc.
[{"type":"text","content":"Copper Fox Provides Update on the Van Dyke Copper ProjectCalgary, Alberta--(Newsfile Corp. - May 11, 2023) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) ('Copper Fox' or the 'Company'), through its wholly owned subsidiary Desert Fox Copper Inc., is pleased to provide an update on its 100% owned Van Dyke in-situ copper recovery ('ISCR') project located in the Globe-Miami Mining District, Gila County, Arizona.The 2020 Preliminary Economic Assessment ('PEA') for the Van Dyke project, prepared in accordance with National Instrument 43-101, (click here for the News Release) indicated an after-tax Net Present Value of US$645 million and an Internal Rate of Return of 43.4%, based on a 17 year mine life using a US$3.15/lb copper price. The PEA recommended advancing the project to the Preliminary Feasibility Study ('PFS') stage. Based on this recommendation the Company is proceeding with a drill hole rehabilitation and testing program along with other activities highlighted below:HighlightsCascade Drilling and Technical Services ('Cascade') has commenced surge, bail, and pump testing on four drill holes.Planning for the mineralogical, solubility, whole rock and trace element studies has been completed.Sampling of the Gila Conglomerate for unconfined compressive strength ('UCS') tests for geotechnical purposes is planned. Elmer B. Stewart, President and CEO of Copper Fox stated, \"The results of the drill hole rehabilitation activities completed to date at Van Dyke have been encouraging. The objective of the current work program is to provide additional data on critical technical parameters of the deposit and provide more certainty in the overall approach to project development. Contingent on the results of the current work program, the next phase of work would be the planning of a multi-purpose drill program to establish additional hydrogeological monitoring stations, upgrade or expand mineral resource categories and obtain samples for additional pressure leach testing and geotechnical purposes.\"Rehabilitation WorkCascade has commenced work on the four historical drill holes that were selected for surge, bail, and pump testing. This work is expected to take approximately three weeks to complete, barring any unforeseen delays. Fluids retrieved from the wells will be stored in containers for disposal at regulated site...