Copper Fox Metals Inc. is pleased to provide its shareholders an update of technical activities on the Schaft Creek Joint Venture project located in northwestern, British Columbia.
Schaft Creek Project:
On January 28, 2015, the management committee for the Schaft Creek joint venture met to discuss the results of the work completed in the last Quarter of 2014. Project expenditures in 2014 were approximately $2.24 million.
During the Quarter, the joint venture completed an updated geological model including: alteration, lithology, structural and sulphide species mapping. The geological modelling supports the ongoing geotechnical and geomet modelling and is also expected to provide a better understanding of the environmental and resource aspects of the Schaft Creek project. The geological modelling shows that post mineralization faulting has caused minor offsets in the mineralization and that some of the low RQD zones are due to hydrothermal fracturing as well as post mineral faulting. These aspects help to better understand the geotechnical aspects of the deposit for pit slope stability modelling.
Work on the comminution (grindability) portion of the geomet work continued in the last Quarter. This review is ongoing and when completed is expected to play a significant role in determining the mill size, daily mill throughput as well as power consumption. During the Quarter, high level reviews of site infrastructure, including the tailing storage facility were also completed.
The Optimization studies that commenced in 2014 are expected to continue into 2015. Copper Fox is reviewing the results of work completed in the last Quarter of 2014 and it is expected that the management committee for the Schaft Creek joint venture would finalize their proposed 2015 plans on or before the end of February 2015.
Elmer B. Stewart, President and CEO of Copper Fox stated, "We are very pleased with the technical progress of the Schaft Creek joint venture over the past year. The work that is currently underway relates directly to a potential initial 12 year mine life as indicated in a previous news release. Our review of the work in last Quarter of 2014 is expected to be completed shortly at which time, we expect that the management committee of the Joint Venture should discuss and approve a program for 2015."
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 scientific and technical information disclosed in
Source: http://www.copperfoxmetals.com/