VANCOUVER, Nov. 19, 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 on an ongoing geochemical sampling (Niton XRF) and surface mapping program on its Sombrero Butte copper project (2,913 acres) located in the Bunker Hill Mining District, 44 miles northeast of Tucson, Arizona.
- Two large areas of elevated geochemical concentrations of copper and molybdenum with vein controlled copper-molybdenum mineralization, coincident potassic-sericite alteration and sporadic tourmaline veining have been identified over a strike length of 4 kilometres ("km"), this trend is open to the southwest,
- Area #1; located in the northwest part of the 4km long zone measures 1,000 meters ("m") by 1,200m and shows copper values (associated with malachite, a copper oxide mineral) ranging from 76 parts per million ("ppm") to greater than 2,450ppm and with molybdenum values ranging from 7ppm up to 252ppm and is open to the west,
- Area #2; located in the southeast portion of the 4km long zone measures 1,600m by 2,800m with copper values (associated with malachite and chalcopyrite, a copper sulphide mineral) ranging from 76ppm to greater than 2,450ppm and with molybdenum values ranging from 7ppm up to 489ppm and is open to the south,
- Three phases of cross-cutting porphyry dikes and at least 15 new mineralized breccia pipes carrying abundant copper veinlets occur within the two target areas, and
- Extensive dickite (a hypogene clay mineral related to acid alteration under advanced argillic conditions in porphyry copper environments) alteration occurs in a number of breccia pipes that appear to form a halo surrounding Area #2.
Mr. Elmer Stewart, President of Copper Fox stated "Our exploration target at Sombrero Butte is to find the source of the mineralized breccia pipes that occur within the property. The preliminary work to date has identified a mineralized trend that is open to the west and southwest that hosts two large exploration targets with many features similar to a classical porphyry alteration-mineralization model. These targets exhibit an outer limonite zone (interpreted to be due to oxidization of pyrite) and an inner zone consisting of potassic-sericite alteration and sporadic tourmaline veining, vein controlled copper-molybdenum mineralization and multiple mineralized breccia pipes; all positive features suggesting the existence of a porphyry copper-molybdenum environment. Preparations for a deep penetrating geophysical survey are underway to collect chargeability, resistivity and Magnetotelluric data over these target areas".
To view the location of the two target areas on the Sombrero Butte project, please visit the Copper Fox website at www.copperfoxmetals.com.
Area # 1 is located in the northwestern corner of the project, west of the old Magma Chief Mine. The mineralized breccia pipes located in the eastern portion of this area were drilled between 2006 and 2008 (see comments on mineralized breccia pipes below). The copper-molybdenum vein hosted mineralization observed in outcrop and the large area of elevated copper-molybdenite geochemical values show an excellent correlation with the area of vein controlled potassic and sericite alteration and tourmaline veining.
The centre of this area coincides with a cluster of breccia pipes and porphyry dikes located about 2km southeast of Area #1. The copper-molybdenum vein mineralization observed in outcrop and the large area of elevated copper-molybdenite geochemical values show an excellent correlation with the area of vein controlled potassic and sericite alteration and tourmaline veining. The extent of the alteration and elevated geochemical values in this area are not yet fully delineated.
Previous Drilling Results:
Breccia pipes are commonly associated with porphyry copper deposits in this area. Between 2006 and 2008, 29 of 34 holes drilled to test 8 breccia pipes on the Sombrero Butte property intersected significant copper mineralization over core intervals ranging from 2m to 72m with average copper grades ranging from 0.37% to 5.85% (see table below and news release dated July 9, 2012). The mineralization in these breccia pipes remains open at depth. Some of the mineralized intervals from the 34 holes are as follows:
| Drill Hole
The mineralized intervals listed in the above table do not represent true widths.
The geochemical sampling of the Sombrero Butte project was completed using an Niton XRF unit and includes 1,342 sample sites collected on a 100m by 100m grid. Approximately 55% of the project area (the northern portion) has been sampled to date.
A single Niton measurement was made directly on the most mineralized material available within typically a radius of three metres from each designated sample site usually comprising a vein centerline or breccia matrix. The Niton analyses on the vein-filling or breccia matrix minerals allows better detection of hydrothermally introduced metals that might be related to concealed or buried mineral deposits. No independent laboratory confirmation of the Niton geochemical results from these sample sites will be undertaken. Niton values reported are only indicative of the introduction of metals. They are not intended to be comparable to standard laboratory assays and should not be relied upon.
At the start of each sampling traverse, the Niton instrument was calibrated using its internal calibration procedure and then checked against a NIST 2710 traceable standard pulp sample containing the elements of interest (Cu, Mo). At the end of each sampling traverse, the Niton instrument was again checked against the NIST-traceable standard to ensure that the instrument was still operating properly.
Van Dyke Project:
The recovery of the historical data collected by Occidental Minerals Corporation from the Van Dyke oxide copper project between 1968 and 1972 has been completed. The recovery of over 6,000 boxes of core and 3,500 of the original pulp samples from the drilling programs as well as all cross-sections and maps has been completed. Discussions are underway with several engineering groups to review the historical data with the objective of determining the additional work that needs to be completed to advance this project to the Preliminary Economic Assessment stage. Subject to the results of the above discussions, a diamond drilling program (essentially a confirmation drilling program) would most likely be the next activity completed on this project.
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, mineral tenures located in Pinal County, Arizona (the 'Sombrero Butte Copper Project') and in Miami, Arizona (the 'Van Dyke Copper Project'). Desert Fox has opened an operations office in Miami, Arizona. For further information on these projects, please refer to the July 9, 2012 and April 12, 2013 news releases found at the Company's website at:
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 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 potential areas of copper-molybdenum porphyry style mineralization and exploration targets at the Sombrero Butte property; the geochemical sampling (Niton XRF) and surface mapping program at the Sombrero Butte property; plans for a deep penetrating geophysical survey to collect chargeability, resistivity and magnetotelluric data, and the timing thereof; discussions with mining engineers, metallurgists and resource geologists to advance the Van Dyke project to the Preliminary Economic Assessment stage; and a potential diamond drilling program at the Van Dyke property.
In connection with the forward-looking information contained in this news release, Copper Fox has made numerous assumptions, including the geological, metallurgical, engineering, financial and economic advice and data that Copper Fox has received is reliable, and is based upon practices and methodologies which are consistent with industry standards. 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 and/or Desert 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: economically viable mineralization may never be discovered at the Sombrero Butte property; delays in identifying exploration targets and implementing exploration programs; a deep penetrating geophysical survey to collect chargeability, resistivity and magnetotelluric data at Sombrero Butte may not be commenced as currently anticipated, or at all; the Van Dyke property may never advance to the Preliminary Economic Assessment stage; a diamond drilling program at the Van Dyke property may never be initiated; fluctuations in copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, and estimated economic return; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; and the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones.
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.