VANCOUVER, Dec. 19, 2013 /CNW/ - Copper Fox Metals Inc. (TSX-Venture: CUU) is pleased to announce the
results from the 2013 diamond drill exploration and geotechnical
drilling program on the Schaft Creek copper-gold-molybdenum-silver
project located in northwestern British Columbia. Copper Fox owns a
25% working interest in the Schaft Creek Joint Venture. Teck Resources
Limited owns 75% of the Schaft Creek Joint Venture and is the
operator. Highlights of the drilling program are as follows:
-
DDH SCK 13-432 (azimuth 270) located 200m south of DDH CF415-2011,
intersected 0.399% copper, 0.444g/t gold, 4.39g/t silver and 0.028%
molybdenum over an interval of 76.5m starting at a core length of
81.0m. This higher grade interval is included in a 356.3m long zone
from 64.2m to 420.5m that averaged 0.215% copper, 0.196g/t gold,
1.71g/t silver and 0.015% molybdenum,
-
DDH SCK-13-433 (azimuth 090) was collared on the same location as DDH
CF411-2011, intersected two zones of mineralization including a 108.0m
interval that assayed 0.187% copper, 0.029g/t gold, 0.025% molybdenum
and 1.16g/t silver starting at a core length of 387.0m and a 41.0m
interval that assayed 0.149% copper, 0.033g/t gold, 0.53g/t silver and
0.026% molybdenum starting at a core length of 521.0m,
-
DDH SCK-13-435 (azimuth 270) located 120m east of DDH CF-418B-2011
intersected a 357.8m interval that assayed 0.363% copper, 0.108g/t
gold, 1.26g/t silver and 0.023% molybdenum starting at a core length of
239.0m. This interval contains two higher grade intervals; the first,
a 43.6m interval that assayed 0.648% copper, 0.241g/t gold, 1.52g/t
silver and 0.043% molybdenum, and the second, a lower 42.9m interval
that assayed 0.591% copper, 0.072g/t gold, 2.16g/t silver and 0.057%
molybdenum,
-
DDH SCK-13-439 (azimuth 270) located on the west side of the Paramount
zone intersected a 29.0m interval that assayed 0.144% copper, 0.027g/t
gold, 0.98g/t silver and 0.003% molybdenum starting at a core length of
38.0m.
Mr. Stewart, President of Copper Fox stated, "We are very pleased that
the 2013 drilling program extended the mineralization between 100m and
300m east of the current resource block model and has also tested
several blocks of inferred resources in the Paramount zone. The
drilling results support the interpretation that the mineralization in
the Paramount zone could extend to the east past the limits of the
current block model. The extension of the mineralization into that area
of the Paramount zone that was previously categorized as waste in the
feasibility study prepared by Copper Fox and the testing of the
inferred resource block within the pit shell could have a positive
effect on the economics of the Schaft Creek project."
Drilling Program:
The 2013 drilling program commenced late in the season, after the
execution of the Schaft Creek Joint Venture Agreement. Mineralized
intervals for the exploration and geotechnical drill holes completed
were estimated using a 0.15% recoverable copper equivalent cutoff
grade. The determination of the recoverable copper equivalent grade
used the same parameters used in the feasibility study with an
effective date of January 23rd, 2013 completed on the Schaft Creek deposit by Copper Fox. Information
on the drill holes completed including the average grades of the
mineralized intervals are set out in the tables below.
Exploration Drill Holes:
|
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|
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Zone
|
DDH ID
|
Dip
|
Azimuth
|
From (m)
|
To (m)
|
Interval (m)
|
copper (%)
|
gold (g/t)
|
silver (g/t)
|
molybdenum (%)
|
Rec. Cu Eq (%)
|
Mike
|
SCK-13-431
|
65
|
090
|
112.1
|
129.0
|
16.9
|
0.004 to 0.017
|
0.005 to 0.014
|
trace
|
0.001 to 0.003
|
not estimated
|
|
|
|
and
|
170.5
|
259.0
|
88.5
|
0.008 to 0.045
|
0.005 to 0.015
|
trace
|
trace
|
not estimated
|
|
|
|
and
|
558.0
|
573.0
|
15.0
|
0.018 to 0.038
|
0.006 to 0.042
|
trace
|
trace
|
not estimated
|
Paramount
|
SCK-13-434
|
80
|
270
|
No significant mineralization, hole terminated at 180m depth due to bad
ground conditions
|
|
Paramount
|
SCK-13-435
|
70
|
270
|
239.0
|
596.8
|
357.8
|
0.363
|
0.108
|
1.26
|
0.023
|
0.44
|
|
|
|
including
|
305.4
|
349.0
|
43.6
|
0.648
|
0.241
|
1.52
|
0.043
|
0.80
|
|
|
|
including
|
533.0
|
575.9
|
42.9
|
0.591
|
0.072
|
2.16
|
0.057
|
0.71
|
|
|
|
and
|
615.6
|
665.5
|
49.9
|
0.180
|
0.188
|
0.67
|
0.015
|
0.29
|
Discovery
|
SCK-13-436
|
60
|
090
|
50.5
|
68.5
|
18.0
|
0.09
|
0.117
|
0.56
|
0.0005
|
0.14
|
Paramount
|
SCK-13-438
|
60
|
090
|
No significant mineralization, hole terminated at 15m depth
|
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|
|
|
|
|
|
|
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|
|
|
Geotechnical Drill Holes:
|
|
|
|
|
|
|
|
|
|
|
|
Zone
|
DDH ID
|
Dip
|
Azimuth
|
From (m)
|
To (m)
|
Interval (m)
|
copper (%)
|
gold (g/t)
|
silver (g/t)
|
molybdenum (%)
|
Rec. Cu Eq (%)
|
Paramount
|
SCK-13-432
|
60
|
270
|
18.0
|
56.3
|
36.75
|
0.198
|
0.062
|
1.69
|
0.004
|
0.22
|
|
|
|
and
|
64.2
|
420.5
|
356.3
|
0.215
|
0.196
|
1.71
|
0.015
|
0.33
|
|
|
|
including
|
81.0
|
157.5
|
76.5
|
0.399
|
0.444
|
4.39
|
0.028
|
0.67
|
|
|
|
and
|
442.0
|
469.5
|
27.5
|
0.148
|
0.036
|
0.33
|
0.002
|
0.15
|
Paramount
|
SCK-13-433
|
55
|
090
|
387.0
|
495.0
|
108.0
|
0.187
|
0.029
|
1.16
|
0.025
|
0.25
|
|
|
|
and
|
521.0
|
562.0
|
41.0
|
0.149
|
0.033
|
0.53
|
0.026
|
0.22
|
Paramount
|
SCK-13-437
|
55
|
090
|
No significant mineralization, hole terminated at 202m depth due to bad
ground conditions
|
|
Paramount
|
SCK-13-439
|
60
|
270
|
38.0
|
67.0
|
29.0
|
0.144
|
0.027
|
0.98
|
0.003
|
0.15
|
Note: The core intervals listed in the above tables do not represent
true widths.
To view the location of 2013 drill holes completed to date, please visit
the Copper Fox website at www.copperfoxmetals.com.
Discussion of Diamond Drill Results:
DDH SCK-13-431 drilled to the east to a depth of 628.0m tested the Mike
zone. This hole intersected three intervals with anomalous copper and
gold values. The two longest intervals of anomalous copper-gold
concentrations occur in the top portion of the drill hole.
DDH SCK-13-432 intersected an upper interval of copper-silver
mineralization and a lower, much longer interval of
copper-gold-molybdenum-silver mineralization. This hole located 200m
south of DDH CF415-2011 tested a block of inferred resource and
extended the mineralization an additional 120m to the west beyond the
western edge of the inferred resource block. This drill hole also
intersected a higher grade (76.5m core interval) zone of
copper-gold-molybdenum-silver mineralization within the indicated
resource block starting at a core interval of 81.0m.
DDH SCK-13-433 intersected two intervals of mineralization. The upper
interval is 108.0m in length and is located approximately 300m to the
east of the current block model.
DDH SCK-13-435 tested a block of inferred resource contained within the
current resource block model and intersected the mineralization on
average 100m east of the indicated and measured resource block. This
drill hole also intersected a previously unknown zone of higher grade
(43.6m core interval) copper-gold-molybdenum-silver mineralization
immediately adjacent to but outside the inferred resource block on this
section. A second zone (42.9m) was intersected within a portion of the
current block model classified as an inferred resource.
DDH SCK-13-439 was a geotechnical drill hole that intersected a 29.0m
interval of lower grade copper-silver mineralization commencing at a
core interval of 38.0m. This zone of mineralization is located outside
the western edge of the current resource block model on this section.
DDH SCK-13-433 and DDH SCK-13-435 extended the mineralization to the
east on the Paramount zone intersected higher molybdenum (0.025% versus
0.019%) grades compared to the average for the Schaft Creek deposit.
Diamond Drilling and Sampling Procedures:
The diamond drilling was completed using HQ, NQ and PQ core size.
Overall core recovery was estimated to be greater than 98%. After
cutting with a diamond saw, one half of the core is collected for
sample preparation and analysis and the other half is retained for
future reference. Sample intervals were selected based on lithology
changes/alteration intensity/estimated mineral content and ranged from
0.73 to 6.0m. The majority of the sample intervals were 2.0m. Sample
preparation was completed by ACME Analytical Laboratories Ltd ("ACME")
located in Smithers, British Columbia and analyses were completed by
ACME in Vancouver, British Columbia.
Base metals were assayed using the ACME's 7TD and 1DX1 packages which
include 4-acid digestion and ICP-ES finish. Lower detection limits are
as follows: Cu >0.001%, Mo >0.001%, silver values are determined by the
1EX with a lower detection limit of 0.1g/t. gold is assayed by the G6
fire assay package - fusion of a 30-gram followed by ICP-ES finish;
with a lower detection limit of 0.005 g/t. ACME has an 9001:2008
International Standard Organization rating.
Recoverable copper equivalent calculations are based on 86.3% of the
copper content plus 73% of the gold content, 58.8% of the molybdenum
content and 48.3% of the silver content. Metal prices used are copper
$US3.25/pound, gold $US1,445/ounce, molybdenum $US14.64/pound and
silver $US27.74/ounce.
Quality Control
The Joint Venture follows a rigorous Quality Assurance/Quality Control
program consisting of inserting standards, blanks and duplicates into
the sample stream submitted to the laboratory for analysis.
Elmer B. Stewart, MSc. P. Geol., President of Copper Fox, is the
Corporation'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, the Sombrero Butte copper project in
the Bunker Hill Mining District, Arizona and the Van Dyke copper
project in the Globe-Miami Mining District, Arizona. Desert Fox has
opened an operations office in Miami, Arizona to advance the work
required on the Van Dyke copper project to a Preliminary Economic
Assessment. For further information on these projects, please refer to
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 the 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 the results
for the 2013 drilling program at the Schaft Creek project.
In connection with the forward-looking information contained in this
news release, Copper Fox has made numerous assumptions, regarding,
among other things: the results of the 2013 drilling results for the
Schaft Creek project. 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 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, among others; the actual mineralization in the Van Dyke
Deposit may not be as favorable as suggested by the historical
estimates; the historical estimates may not be reliable or indicative
of any commercial benefit to Copper Fox; Copper Fox may not be able to
comply with its ongoing obligations regarding the Van Dyke Deposit; a
Preliminary Economic Assessment may not be prepared for the Van Dyke
Deposit as currently contemplated, or at all; some or all of the
drilling results for the 2013 season at Schaft Creek may not be
released as contemplated; additional drilling at Schaft Creek may not
intersect additional mineralization; fluctuations in copper prices and
demand; currency exchange rates; conditions in the financial markets
and the overall economy may continue to deteriorate; uncertainties
relating to interpretation of the previous drill results and the
geology, continuity and grade of Van Dyke Deposit; the previous
metallurgical testwork and metal recovery rates; the need to obtain
additional financing and uncertainty of meeting anticipated program
milestones; uncertainty as to timely availability of permits and other
governmental approvals.
A more complete discussion of the risks and uncertainties facing Copper
Fox is disclosed in Copper Fox's continuous disclosure filings with
Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety
by this cautionary statement, and Copper Fox disclaims any obligation
to revise or update any such forward-looking information or to publicly
announce the result of any revisions to any of the forward-looking
information contained herein to reflect future results, events or
developments, except as required by law.
SOURCE Copper Fox Metals Inc.
Investor line 1-866-913-1910 or Lynn Ball, at 1-403-264-2820.