Sep 6 2016
Copper Fox Metals Inc. ("Copper Fox" or the "Company") and its wholly owned subsidiary, Desert Fox Copper Inc. ("Desert Fox"), are pleased to provide an update on the Mineral Mountain copper project located approximately 15 miles east of Florence, Arizona.
Elmer B. Stewart, President and CEO of Copper Fox, stated, "The review of a number of historical exploration reports has significantly advanced our understanding of the property and has identified both porphyry copper and precious metal targets. The porphyry copper target is hosted in a Laramide age Quartz Monzonite, the main host rock for porphyry copper deposits in Arizona. The precious metal targets were previously mined for higher-grade gold-silver-base metal mineralization, but do not appear to have been explored for lower-grade precious metal mineralization."
Highlights:
- Copper mineralization reported as copper carbonates, copper silicates, pyrite, chalcopyrite, chalcocite, and a few areas of disseminated molybdenite occurs over a 3,000 feet (ft) by 2,000 ft area of the Quartz Monzonite.
- A 6,000 ft long by 2,500 ft wide chargeability/resistivity anomaly ("IP survey") is associated with the zone of surface copper-molybdenite mineralization in the Quartz Monzonite.
- Soil geochemical surveys outlined five large areas of anomalous (greater than 100 ppm copper) copper values within the IP survey area.
- Precious metal targets include four 10,000 ft to 15,000 ft long north-south oriented fissure vein systems that were previously mined for higher grade gold-silver mineralization.
Background:
Over the past few months a number of historical exploration reports (late 1960's to early 1980's) were obtained. The work completed in these reports covered various portions of the Mineral Mountain project. Historical exploration activities included bulldozer trenching, soil geochemical sampling, mapping, and Induced Polarization/Resistivity surveys.
The work completed by Copper Fox at Mineral Mountain indicated the presence of abundant copper oxides/copper silicates and chalcocite on surface within the above referenced trenched/mineralized areas. The presence of chalcocite suggests that supergene leaching has taken place and indicates the possibility for a higher grade chalcocite "blanket" at depth. Chalcocite blankets are a characteristic of some porphyry copper deposits in Arizona.
The precious metals targets consist of a series of four, 10,000 to 15,000 ft long and from 3 to 30 ft. wide, sub-parallel fissure vein systems (silicified wall rock, quartz veins, jasper) hosted in the Pre Cambrian Pinal Schist. These fissure vein systems were previously mined for pockets of higher grade gold-silver -base metal mineralization. A considerable number of shallow shafts, adits, and pits have been excavated along these fissure vein systems.
Geophysical Surveys:
An Induced Polarization/Resistivity survey was completed at a line spacing of 1,000 ft. The geophysical survey outlined a 6,000 ft long by 2,500 ft wide (open) chargeability/resistivity anomaly (greater than 10 millivolts/second ("mvs")) that coincides with four previously identified copper in soil geochemical anomalies. The interpretation of the surveys concluded that the chargeability/resistivity anomaly was due to a disseminated sulphide body with greater than 1% sulphide and that additional work was warranted.
Geochemical Surveys:
A soil geochemical survey completed over a portion of the project area identified five anomalies (greater than 100 ppm copper) described as i) Main Area (1,500 ft by 1,200 ft), ii) North Central (2,500 ft by 200 ft), iii) Vein Area (1,500 ft by 200 ft), and Zones 4 & 5 (no dimensions for these zones were noted in the report). These geochemical anomalies occur in the vicinity of the surface copper mineralization exposed in the Quartz Monzonite.
Historical Information:
- Historic information on mineralization within the Quartz Monzonite and soil geochemical surveys sourced from: report prepared for Charter Mining Corporation entitled "Preliminary Geological Survey, Mineral Mountain Project, Mineral Mountain Mining District, Pinal County, Arizona," dated March 12, 1981 prepared by L. Kersey (Geologist).
- Historic information on the geophysical survey sourced from: report prepared for Metals Petroleum and Hydraulic Resources Consulting Ltd. entitled "Report on Induced Polarization Survey, Gorilla Property, Pinal County, Arizona," dated November 15, 1970 prepared by F.J. Seyberg (Geophysicist).
- Historic information on the geochemical survey sourced from: report prepared for Marguerite Mines Ltd. (N.P.L.) entitled "Preliminary Report on Gorilla Property, Florence, Arizona," dated November 30, 1970 prepared by J.R. Glass (Geologist).
- Historic information on fissure vein systems sourced from: Masters of Science thesis, University of Arizona 1967 entitled "Geology of the Mineral Mountain Quadrangle, Pinal County, Arizona," prepared by E.A. Schmidt, pp. 64-65 and pp 69-82.
- Historic information on the location of the fissure vein systems sourced from: map attached to report prepared for Miami Copper Company entitled "Induced Polarization Survey Area 1, (Florence), Pinal County, Arizona," dated July 12, 1967 prepared by C.S. Ludwig (Geophysicist).
Elmer B. Stewart, MSc. P. Geol., President of Copper Fox, is the Company's non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.
Source: http://www.copperfoxmetals.com/