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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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 |
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and |
170.5 |
259.0 |
88.5 |
0.008 to 0.045 |
0.005 to 0.015 |
trace |
trace |
not estimated |
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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 |
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Paramount |
SCK-13-435 |
70 |
270 |
239.0 |
596.8 |
357.8 |
0.363 |
0.108 |
1.26 |
0.023 |
0.44 |
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including |
305.4 |
349.0 |
43.6 |
0.648 |
0.241 |
1.52 |
0.043 |
0.80 |
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including |
533.0 |
575.9 |
42.9 |
0.591 |
0.072 |
2.16 |
0.057 |
0.71 |
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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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Geotechnical Drill Holes:
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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 (%) |
Paramount |
SCK-13-432 |
60 |
270 |
18.0 |
56.3 |
36.75 |
0.198 |
0.062 |
1.69 |
0.004 |
0.22 |
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and |
64.2 |
420.5 |
356.3 |
0.215 |
0.196 |
1.71 |
0.015 |
0.33 |
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including |
81.0 |
157.5 |
76.5 |
0.399 |
0.444 |
4.39 |
0.028 |
0.67 |
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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 |
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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 |
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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.