VANCOUVER, Nov. 19, 2013 /CNW/ - Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX-V: CUU) through its wholly owned subsidiary, Desert Fox Minerals Co. ("Desert Fox") is pleased to provide an update on an ongoing geochemical sampling
(Niton XRF) and surface mapping program on its Sombrero Butte copper
project (2,913 acres) located in the Bunker Hill Mining District, 44
miles northeast of Tucson, Arizona.
Highlights:
-
Two large areas of elevated geochemical concentrations of copper and
molybdenum with vein controlled copper-molybdenum mineralization,
coincident potassic-sericite alteration and sporadic tourmaline veining
have been identified over a strike length of 4 kilometres ("km"), this
trend is open to the southwest,
-
Area #1; located in the northwest part of the 4km long zone measures
1,000 meters ("m") by 1,200m and shows copper values (associated with
malachite, a copper oxide mineral) ranging from 76 parts per million
("ppm") to greater than 2,450ppm and with molybdenum values ranging
from 7ppm up to 252ppm and is open to the west,
-
Area #2; located in the southeast portion of the 4km long zone measures
1,600m by 2,800m with copper values (associated with malachite and
chalcopyrite, a copper sulphide mineral) ranging from 76ppm to greater
than 2,450ppm and with molybdenum values ranging from 7ppm up to 489ppm
and is open to the south,
-
Three phases of cross-cutting porphyry dikes and at least 15 new
mineralized breccia pipes carrying abundant copper veinlets occur
within the two target areas, and
-
Extensive dickite (a hypogene clay mineral related to acid alteration
under advanced argillic conditions in porphyry copper environments)
alteration occurs in a number of breccia pipes that appear to form a
halo surrounding Area #2.
Mr. Elmer Stewart, President of Copper Fox stated "Our exploration
target at Sombrero Butte is to find the source of the mineralized
breccia pipes that occur within the property. The preliminary work to
date has identified a mineralized trend that is open to the west and
southwest that hosts two large exploration targets with many features
similar to a classical porphyry alteration-mineralization model. These
targets exhibit an outer limonite zone (interpreted to be due to
oxidization of pyrite) and an inner zone consisting of
potassic-sericite alteration and sporadic tourmaline veining, vein
controlled copper-molybdenum mineralization and multiple mineralized
breccia pipes; all positive features suggesting the existence of a
porphyry copper-molybdenum environment. Preparations for a deep
penetrating geophysical survey are underway to collect chargeability,
resistivity and Magnetotelluric data over these target areas".
To view the location of the two target areas on the Sombrero Butte
project, please visit the Copper Fox website at www.copperfoxmetals.com.
Area #1:
Area # 1 is located in the northwestern corner of the project, west of
the old Magma Chief Mine. The mineralized breccia pipes located in the
eastern portion of this area were drilled between 2006 and 2008 (see
comments on mineralized breccia pipes below). The copper-molybdenum
vein hosted mineralization observed in outcrop and the large area of
elevated copper-molybdenite geochemical values show an excellent
correlation with the area of vein controlled potassic and sericite
alteration and tourmaline veining.
Area #2:
The centre of this area coincides with a cluster of breccia pipes and
porphyry dikes located about 2km southeast of Area #1. The
copper-molybdenum vein mineralization observed in outcrop and the large
area of elevated copper-molybdenite geochemical values show an
excellent correlation with the area of vein controlled potassic and
sericite alteration and tourmaline veining. The extent of the
alteration and elevated geochemical values in this area are not yet
fully delineated.
Previous Drilling Results:
Breccia pipes are commonly associated with porphyry copper deposits in
this area. Between 2006 and 2008, 29 of 34 holes drilled to test 8
breccia pipes on the Sombrero Butte property intersected significant
copper mineralization over core intervals ranging from 2m to 72m with
average copper grades ranging from 0.37% to 5.85% (see table below and
news release dated July 9, 2012). The mineralization in these breccia
pipes remains open at depth. Some of the mineralized intervals from
the 34 holes are as follows:
Breccia Pipe
|
Drill Hole ID
|
From (m)
|
To (m)
|
Interval (m)
|
Copper (%)
|
Magma
|
SB-02
|
286
|
334
|
48
|
1.06
|
Campstool
|
SB-03
|
272
|
294
|
22
|
0.58
|
Sunset
|
SB-05
|
18
|
40
|
22
|
4.74
|
Rattler
|
SB-09
|
96
|
110
|
14
|
0.83
|
Audacious
|
SB-14
|
20
|
86
|
66
|
1.45
|
Victor's
|
SB-29
|
4
|
70
|
66
|
0.61
|
The mineralized intervals listed in the above table do not represent
true widths.
Survey Parameters:
The geochemical sampling of the Sombrero Butte project was completed
using an Niton XRF unit and includes 1,342 sample sites collected on a
100m by 100m grid. Approximately 55% of the project area (the northern
portion) has been sampled to date.
A single Niton measurement was made directly on the most mineralized material available within typically a radius of three metres from each designated sample
site usually comprising a vein centerline or breccia matrix. The Niton
analyses on the vein-filling or breccia matrix minerals allows better
detection of hydrothermally introduced metals that might be related to
concealed or buried mineral deposits. No independent laboratory
confirmation of the Niton geochemical results from these sample sites
will be undertaken. Niton values reported are only indicative of the
introduction of metals. They are not intended to be comparable to
standard laboratory assays and should not be relied upon.
At the start of each sampling traverse, the Niton instrument was
calibrated using its internal calibration procedure and then checked
against a NIST 2710 traceable standard pulp sample containing the
elements of interest (Cu, Mo). At the end of each sampling traverse,
the Niton instrument was again checked against the NIST-traceable
standard to ensure that the instrument was still operating properly.
Van Dyke Project:
The recovery of the historical data collected by Occidental Minerals
Corporation from the Van Dyke oxide copper project between 1968 and
1972 has been completed. The recovery of over 6,000 boxes of core and
3,500 of the original pulp samples from the drilling programs as well
as all cross-sections and maps has been completed. Discussions are
underway with several engineering groups to review the historical data
with the objective of determining the additional work that needs to be
completed to advance this project to the Preliminary Economic
Assessment stage. Subject to the results of the above discussions, a
diamond drilling program (essentially a confirmation drilling program)
would most likely be the next activity completed on this project.
Elmer B. Stewart, MSc. P. Geol., President of Copper Fox, is the
Company's nominated Qualified Person pursuant to National Instrument
43-101, Standards for Disclosure for Mineral Projects, has reviewed the
technical information disclosed in this news release.
About Copper Fox
Copper Fox is a Canadian resource development company listed on the
TSX-Venture Exchange (TSX-V: CUU) with offices in Calgary, Alberta and
Vancouver, British Columbia. In addition to Copper Fox's 25% interest
in the Schaft Creek Joint Venture, Copper Fox holds, through Desert Fox
and its wholly-owned subsidiaries, mineral tenures located in Pinal
County, Arizona (the 'Sombrero Butte Copper Project') and in Miami,
Arizona (the 'Van Dyke Copper Project'). Desert Fox has opened an
operations office in Miami, Arizona. For further information on these
projects, please refer to the July 9, 2012 and April 12, 2013 news
releases found at the Company's website at: www.copperfoxmetals.com.
On behalf of the Board of Directors
Elmer B. Stewart
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the
meaning of Canadian securities laws. Forward-looking information is
generally identifiable by use of the words "believes," "may," "plans,"
"will," "anticipates," "intends," "budgets", "could", "estimates",
"expects", "forecasts", "projects" and similar expressions, and the
negative of such expressions. Forward-looking information in this news
release includes statements about potential areas of copper-molybdenum
porphyry style mineralization and exploration targets at the Sombrero
Butte property; the geochemical sampling (Niton XRF) and surface
mapping program at the Sombrero Butte property; plans for a deep
penetrating geophysical survey to collect chargeability, resistivity
and magnetotelluric data, and the timing thereof; discussions with
mining engineers, metallurgists and resource geologists to advance the
Van Dyke project to the Preliminary Economic Assessment stage; and a
potential diamond drilling program at the Van Dyke property.
In connection with the forward-looking information contained in this
news release, Copper Fox has made numerous assumptions, including the
geological, metallurgical, engineering, financial and economic advice
and data that Copper Fox has received is reliable, and is based upon
practices and methodologies which are consistent with industry
standards. While Copper Fox considers these assumptions to be
reasonable, these assumptions are inherently subject to significant
uncertainties and contingencies. Additionally, there are known and
unknown risk factors which could cause Copper Fox's and/or Desert Fox's
actual results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking information contained herein. Known
risk factors include: economically viable mineralization may never be
discovered at the Sombrero Butte property; delays in identifying
exploration targets and implementing exploration programs; a deep
penetrating geophysical survey to collect chargeability, resistivity
and magnetotelluric data at Sombrero Butte may not be commenced as
currently anticipated, or at all; the Van Dyke property may never
advance to the Preliminary Economic Assessment stage; a diamond
drilling program at the Van Dyke property may never be initiated;
fluctuations in copper and other commodity prices and currency exchange
rates; uncertainties relating to interpretation of drill results and
the geology, continuity and grade of mineral deposits; uncertainty of
estimates of capital and operating costs, recovery rates, and estimated
economic return; the need to obtain additional financing to develop
properties and uncertainty as to the availability and terms of future
financing; and the possibility of delay in exploration or development
programs or in construction projects and uncertainty of meeting
anticipated program milestones.
SOURCE Copper Fox Metals Inc.