VANCOUVER, Jan. 9, 2014 /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 its 2014 exploration plans for the
Van Dyke copper project. Desert Fox holds a 100% interest in
the Van Dyke copper project located in the Globe-Miami Mining
District in Arizona subject to
certain underlying agreements.
Mr. Stewart, President of Copper Fox stated,
"The re-sampling and proposed diamond drilling programs are
designed to confirm the historical data in advance of completing a
NI 43-101 compliant resource estimation. The resource estimation is
the first step towards completion of a Preliminary Economic
Assessment of the Van Dyke copper deposit. The gold and silver
concentrations available from the historical data are of
significant interest and dictate that the distribution and
concentration of these elements over the entire deposit need to be
determined in order to select the best method in which to evaluate
this deposit."
2014 Program:
During December 2013, personnel from
Moose Mountain Technical Services ("MMTS") and Knight Piésold Ltd.
("KP") conducted a site visit and preliminary review of the
historical data from the Van Dyke copper deposit. The
objective of this work was to assess the quality of the data and to
propose a program to complete the geological, engineering and
environmental work necessary to prepare a Preliminary Economic
Assessment.
Diamond Drilling Program:
MMTS has recommended a minimum 5,000m (approximately seven holes)
diamond drilling program for the Van Dyke copper deposit to confirm
the historical drilling results. The program consists of twinning
seven historical drill holes, re-submitting pulps from original
drill core samples and splitting the mineralized core interval for
certain historical drill holes to confirm the historical analytical
results (see table below). Based on the results of this
sampling, MMTS plans to use the new data to verify the accuracy of
the historical information and then complete a NI 43-101 compliant
resource estimation for the Van Dyke copper deposit.
Contingent on the results of the initial
drilling program, a follow-up 25 hole drilling program has been
proposed for the Van Dyke copper deposit.
On completion of each drill hole,
hydrogeological and geotechnical surveys will be conducted to
collect the information required for a Preliminary Economic
Assessment. This information will be incorporated into the
project database and form part of the environmental and
geotechnical assessment of the Van Dyke copper deposit.
|
|
|
|
|
|
|
DDH ID |
From (m) |
To (m) |
Interval (m) |
Total Cu % |
Oxide Cu% |
Sulfide Cu% |
OXY-2 |
402.64 |
419.10 |
16.46 |
0.422 |
0.345 |
0.077 |
OXY-2 |
463.30 |
494.69 |
31.39 |
0.923 |
0.472 |
0.451 |
OXY-6 |
376.12 |
582.17 |
206.05 |
0.574 |
0.481 |
0.093 |
OXY-8 |
313.94 |
442.26 |
128.32 |
0.634 |
0.301 |
0.333 |
OXY-15 |
405.69 |
451.41 |
45.72 |
0.605 |
0.550 |
0.055 |
OXY-17B |
336.19 |
396.85 |
60.66 |
0.772 |
0.480 |
0.292 |
OXY-27 |
524.26 |
661.42 |
137.16 |
0.329 |
0.271 |
0.058 |
VD-6 |
364.54 |
500.48 |
135.84 |
0.330 |
0.273 |
0.057 |
Note: The core intervals listed in the above tables
do not represent true widths.
*The analytical results reported in this news release from the
Van Dyke deposit are historical in nature. Copper Fox wishes
to clarify that insufficient work has been completed to verify the
reported historical data and that no mineral resource occurs within
the Van Dyke property. The reported historical mineralized
intersections have not been verified and the historical data has
not been adequately reviewed by an independent Qualified
Person.
The proposed drill holes cover an 800m wide
east-west and 500m long north-south section through the deposit.
All samples (2014 core, and pulp and split samples from the
historical core) will be assayed for total copper, soluble copper,
gold, molybdenum and silver as well as a suite of 51 elements for
baseline and environmental assessment purposes.
Applications for the various permits required to
conduct a diamond drilling program and selection of a diamond drill
contractor are expected to commence immediately.
Historical Gold - Silver Analysis:
As recommended by MMTS, selected intervals of the historical drill
holes were sampled by Desert Fox to determine the gold, silver and
molybdenum concentrations. The samples collected by Occidental
Minerals Corp. and the Van Dyke Copper Company from the Van Dyke
deposit were not systematically analyzed for gold and silver.
Several drill holes were systematically sampled for silver over the
mineralized interval. Diamond drill hole (DDH) OXY-6 averaged
3.04 g/t silver over a core length of 206.25m and DDH OXY-8
averaged 4.46g/t silver over a core length of 128.32m (after
conversion from ounce per ton to grams per tonne). In
addition to the above drill holes, the table below shows the
significant intervals of silver mineralization reported in DDH
OXY-1.
|
|
|
|
|
|
DDH ID |
From (m) |
To (m) |
Interval (m) |
silver (opt) |
silver (g/t) |
OXY-1 |
393.80 |
411.78 |
17.98 |
0.20 |
6.22 |
|
414.83 |
425.20 |
10.37 |
0.30 |
9.33 |
|
503.83 |
533.40 |
29.57 |
0.25 |
7.78 |
|
548.64 |
563.88 |
15.24 |
0.10 |
3.11 |
|
579.12 |
594.36 |
15.24 |
0.10 |
3.11 |
Note: The core intervals listed in the above tables do not
represent true widths.
The core interval in DDH OXY-1 from 340.6m to 357.23m returned an
average of 0.085 ounces (2.65g/t) gold per ton. The detection
limits for gold and silver used for the historical analytical
results are not known but most likely were considerably higher than
in use today.
Based on the analytical results, a trade off
study will be completed to determine the method to be used to
evaluate the deposit.
Pulp/Split Sampling:
A total of 406 of the original pulp samples from DDH OXY-6, OXY-8,
OXY-15 and VD-6 have been submitted to ALS Chemex to determine the
total copper, soluble copper, gold, silver and molybdenum
concentration.
Sixty-seven (67) splits of the remaining core
from DDH OXY-27 have been collected by Desert Fox and submitted to
ALS Chemex to determine total copper, soluble copper, gold, silver
and molybdenum concentrations.
Sampling Procedures:
Sample preparation is being conducted by ALS Minerals located in
Reno, Nevada and analyses will be
completed by ALS Minerals in Vancouver,
British Columbia.
Copper concentrations are being determined using
aqua regia ICPMS-MEMS41, AA and 08Q packages. Lower detection
limits are as follows: copper 0.2 ppm, molybdenum 0.05 ppm, silver
0.01g/t. Gold is being determined by AA-23 on a 30-gram sample
followed by ICP-ES finish; with a lower detection limit of 0.005
g/t. ALS has a 9001:2008 International Standard Organization
rating.
Quality Control:
Desert Fox follows a rigorous Quality Assurance/Quality Control
program consisting of inserting standards, blanks and duplicates at
regular intervals 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 work towards and completion of a
Preliminary Economic Assessment: the objectives of the 2014 program
at the Van Dyke copper deposit: completion of geological,
engineering and environmental work to prepare a Preliminary
Economic Assessment: re-sampling and proposed diamond drilling:
applications for required permits and selection of a contractor for
a diamond drilling program at the Van Dyke copper deposit: and
statements about Copper Fox's strategy, future operations,
prospects and the plans of management.
In connection with the forward-looking
information contained in this news release, Copper Fox has made
numerous assumptions. 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 re-sampling and proposed diamond drilling in the
Van Dyke Deposit may not contain any mineralization or
mineralization 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; 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.