Dec 26 2015
Copper Fox Metals Inc. ("Copper Fox" or the "Company") and its wholly owned subsidiary, Desert Fox Copper Inc. ("Desert Fox"), are pleased to report that it has filed on SEDAR a National Instrument 43-101 ("NI 43-101") technical report related to the Preliminary Economic Assessment ("PEA") on its Van Dyke copper project located in Miami, Arizona.
The Technical Report titled "NI 43-101 Preliminary Economic Assessment Technical Report for the Van Dyke Copper Project" dated December 18, 2015, was prepared by Moose Mountain Technical Services ("MMTS"). The authors of the report are James (Jim) H. Gray, PEng, Tracey D. Meintjies, PEng, and Susan C. Bird, MSc, PEng of MMTS who are "Qualified Persons" as defined by NI 43-101 standards. The PEA for the Van Dyke project was disclosed in a previous news release dated November 25, 2015.
Elmer B. Stewart, President and CEO of Copper Fox stated, "We are very pleased with the positive results and recommendations of the PEA. This PEA is preliminary in nature and should not be considered to be a pre-feasibility or feasibility study, as the economics and technical viability of the Van Dyke Copper Project have not been demonstrated at this time."
The PEA's recommendations that could have a significant positive impact on mine life and project economics include:
- A diamond drilling program to expand the size of the resource and upgrade the existing Inferred Resource;
- An ISL test program designed to further investigate overall metal recoveries, refine well field design, and determine the extent of rock stimulation required, if any; and
- Opportunities to lower capital, sustaining and operating costs by reduction in the size of the underground development and further defining operating procedures.
About Copper Fox
Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange (TSX-V: CUU) focused on copper exploration and development in Canada and the United States. Copper Fox has four primary assets as noted below:
- 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia.
- 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona.
- 50.97% of the shares of Carmax Mining Corp. who in turn own 100% of the Eaglehead copper-molybdenum-gold project located in northern British Columbia.
- 100% ownership of the Sombrero Butte copper project located east of Mammoth, Arizona.
On behalf of the Board of Directors
Elmer B. Stewart, President and Chief Executive Officer
Source: http://www.copperfoxmetals.com/