Copper Fox reports successful diamond drill results from 2013 drilling program at Schaft Creek Joint Venture

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:

                       
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      
                       

 

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.

For further information:

Investor line 1-866-913-1910 or Lynn Ball, at 1-403-264-2820.