VANCOUVER, Dec. 3, 2013 /CNW/ - Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX-V: CUU) through its wholly owned subsidiary, Desert Fox Minerals Co. ("Desert Fox") is pleased to provide an update of recent activities on its Van Dyke oxide copper deposit located in the Globe-Miami mining district of Arizona. Copper Fox acquired 100% of Bell Copper Corporation interest in the Van Dyke copper deposit in early 2013 (see News Release dated April 12, 2013).
|a)||Moose Mountain Technical Services has been retained to review and model all of the historical exploration and test leaching data with the objective of making recommendation for further work including diamond drilling to confirm the historical estimate of 112 million tons grading 0.53% copper,|
|b)||Knight Piésold has been retained to review all historical engineering, geotechnical and hydrogeological data generated by Occidental Mineral Corporation in the 1970's and Kocide Chemical's test in-situ production data generated between 1988 -1989, and|
|c)||Greenwood Environmental working with Knight Piésold has been retained to provide consulting services on the environmental and permitting aspects of a potential in-situ leach mining project on the Van Dyke oxide copper deposit.|
Mr. Stewart, President and CEO of Copper Fox stated, "The Van Dyke oxide copper deposit is a significant under explored copper asset of the Company. The historical estimation, in-situ leaching test work and production data from an in-situ leach mining operation completed between the early 1970's and 1989 yielded positive results. Our immediate objective at Van Dyke is to complete the geological, engineering, geotechnical and environmental work necessary to prepare a Preliminary Economic Assessment there by establishing a valuation for this project. The Van Dyke oxide copper deposit complements our 25% interest in the large Schaft Creek copper-gold-molybdenum-silver deposit. We expect some or all of the drilling results for the 2013 season at Schaft Creek to be released in December."
Moose Mountain Technical Service ("MMTS"):
Representatives of MMTS have completed a site visit as part of their mandate to review the existing historical exploration data to establish the requirements to bring the historical data base into National Instrument 43-101 ("NI-43-101") requirements. MMTS will also review the previous metallurgical test work and production data to evaluate the potential for in-situ leach mining of the Van Dyke oxide copper deposit as well as make recommendations for additional diamond drilling to generate an NI 43-101 Resource Estimate, and recommend additional studies to complete a Preliminary Economic Assessment if justified.
Knight Piésold Consulting ("Knight Piésold"):
Representatives of Knight Piésold have completed a site visit. Knight Piésold have provided similar consulting services to a number of proposed and operating copper mines in Arizona and will review the following aspects of the Van Dyke oxide copper deposit:
The scope of the preliminary engineering services at the Van Dyke oxide copper deposit includes; i) Mine Development Alternatives Analyses, ii) Underground Mine Rock Mechanics, iii) Hydrogeology, iv) Surface Geotechnical support and v) Water Management including water balance, ponds, pumping and pipework systems.
Knight Piésold will prepare an overview of the mining permit applications required in Arizona to develop an in-situ oxide copper deposit. Knight Piésold have recently provided permit assistance and technical support to several proposed and operating copper mines in Arizona as well as geochemical characterization and hydrological support for numerous environmental permits in Arizona. As a first step, relevant project permits and approvals will be identified that will include; project-related impacts that may trigger compliance with the National Environmental Policy Act (NEPA) production of an Environmental Assessment or Environmental Impact Statement:
Environmental Baseline Studies
Knight Piésold will also design a baseline monitoring system to quantify existing conditions at the Van Dyke oxide copper deposit as well as i) Air Quality, ii) Surface and Groundwater Quality and Quantity, iii) Vegetative and Biological Resources, iv) Cultural and Archaeological Resources, v) Social and vii) Public Health and Safety studies.
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 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 located in the Bunker Hill Mining District, Arizona and the Van Dyke copper project located in the Globe-Miami Mining District, Arizona. Desert Fox has opened an operations office in Miami, Arizona. 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 historical resource estimates of the Van Dyke Deposit; work required to upgrade the historical resource estimates of the Van Dyke Deposit and the preparation of a Preliminary Economic Assessment; and the timing and scope of drilling results for the 2013 season at Schaft Creek.
In connection with the forward-looking information contained in this news release, Copper Fox has made numerous assumptions, regarding, among other things: the reported historical estimates of the Van Dyke Deposit. 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 favourable 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; 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:
For additional information contact: Investor line 1-866-913-1910 or Lynn Ball, at 1-403-264-2820.