Copper Fox Metals Inc.
(“Copper Fox” or the “Company”)
(TSX-V: CUU – OTC-Pink: CPFXF) and its wholly owned
subsidiary, Desert Fox Copper Inc. (“
Desert Fox”),
are pleased to provide a compilation for the recently completed
mapping and sampling program on its 100% owned Mineral Mountain
copper project located approximately 15 miles east of Florence,
Arizona.
Highlights:
- A Laramide age porphyry system with
two separate targets, designated Area #1 and Area #2, has been
outlined.
- Area #1 measures 4,500 meters (m)
long by up to 2,000m wide, Area #2 measures 2,800m long and
averages 400m wide.
- Area #1 hosts three zones of
disseminated copper-molybdenum mineralization, the largest of which
measures approximately 1,000m long by 350-450m wide.
- In Area #1, the higher
concentrations of molybdenum are associated with the largest area
of disseminated copper mineralization which coincides with a large
positive chargeability anomaly outlined in 1971.
- Area #2 is characterized by quartz
vein and fracture hosted copper mineralization with significantly
lower concentrations of molybdenum than recorded in Area #1.
Elmer B. Stewart, President and CEO of Copper
Fox, stated, “The large zones of oxidized disseminated copper
mineralization, with the highest concentrations of molybdenum
recorded from the property and the one to one correlation to a
historical positive chargeability anomaly, all point to a
significant copper discovery. In Area #1, the spatial
distribution of the disseminated, fracture and quartz vein hosted
styles of copper +/- molybdenum mineralization suggest an outward
migration from the core of a porphyry system. Area #2 is
interpreted as the surface expression of a porphyry system at depth
based on the styles of copper mineralization and low molybdenum
concentrations.”
Geological Model:The updated
geological model includes two distinct porphyry targets. Area
#1 is underlain by Laramide age Quartz Monzonite and is interpreted
to represent the oxidized portion of a porphyry copper-molybdenum
deposit as indicated by the zones of disseminated copper-molybdenum
mineralization and the positive chargeability anomaly outlined in
1971. The largest zone of disseminated copper mineralization
containing the highest concentrations of molybdenum occurs at the
intersection of a broad north-northwest trending zone that exhibits
late stage re-adjustments by north-south and east-northeast
trending structures. Outcrop in Area #2 consists of
Precambrian age Pinal Schist, Diabase and Ruin Granite that is
interpreted to be underlain by Laramide age Quartz Monzonite.
The styles of copper mineralization and low molybdenum
concentrations suggest that the source porphyry system is at a
deeper level than that seen in Area #1.
Historical Chargeability
Anomaly:In November 1971, Marguerite Lake Mines Ltd under
the supervision of Fred. J. Syberg, B.Sc. completed an Induced
Polarization and Resistivity survey (six lines) with line spacing
of 1,000 feet (ft) (304m), electrode spacing of 800ft (243m), and
estimated depth of penetration of 1,600ft (487m) using a
dipole-dipole configuration. Based on the results of the
geophysical survey, Syberg concluded that the survey identified a
chargeability anomaly measuring approximately 6,000ft (1,800m) long
by approximately 3,000ft (900m) wide.
Analytical Results:The selected
rock chip samples were collected to characterize the
copper-molybdenum-gold-silver concentrations as well as trace
element geochemistry present in veins, other mineralized structures
and the outcrop. The samples used in the compilation are not
necessarily representative of the mineralization on the property.
The average metal concentrations of the three styles of
copper mineralization observed at Mineral Mountain are shown
below.
|
|
Average Concentration |
Style of |
Number of |
Cu |
Cu |
Mo |
Au |
Ag |
Mineralization |
Samples |
(ppm) |
(%) |
(ppm) |
(ppb) |
(ppm) |
Disseminated |
47 |
5,752 |
0.575 |
71.8 |
57.9 |
6.6 |
Quartz Vein |
141 |
12,020 |
1.202 |
65.3 |
127.5 |
16.3 |
Fracture |
135 |
4,223 |
0.422 |
13.6 |
43.1 |
7.3 |
Cu = copper, Mo = molybdenum, Au = gold, Ag
=silver, (%) = percent, ppm = parts per million,
ppb = parts per billion
The Quartz Vein hosted copper mineralization.
The average metal concentrations in the Quartz Vein hosted
mineralization in Area #1 and Area #2 exhibit significant
differences. The average metal concentrations for the two
Areas are shown below.
Area |
Cu (ppm) |
Cu (%) |
Mo (ppm) |
Mo (%) |
Au (ppb) |
Ag (ppm) |
Area #1 |
9,621 |
0.962 |
80 |
0.008 |
143.9 |
17.6 |
Area #2 |
18,542 |
1.854 |
27 |
0.003 |
82.7 |
12.8 |
Cu = copper, Mo = molybdenum, Au = gold, Ag
=silver, (%) = percent, ppm = parts per million,
ppb = parts per billion. Number are rounded to reflect best
practice principles.
The variation in the metal concentrations
between the two Areas is interpreted to be due to the proximity to
the source porphyry system.
Mineralization: Area #1 is
characterized by disseminated, quartz vein and fracture hosted
styles of copper mineralization. Disseminated copper
mineralization occurs as three separate northeast trending zones
within Area #1 and range in size from 400m by 200m to 1,000m by
345-450m. Both Quartz Vein and Fracture controlled copper
mineralization occurs within the zones of disseminated copper
mineralization.
Molybdenum mineralization (defined as greater
than 20 ppm) occurs in three zones within Area #1 that range in
size from 800m by 200m to 1,400m by 400-800m and overlaps the
disseminated copper mineralization.
The Quartz Vein style of copper mineralization
contains significant molybdenum concentrations and can exhibit a
number of different strike and dip directions over narrow
intervals. This style of mineralization exhibits a dominant
northeast strike direction and a secondary northwest strike
direction.
Fracture controlled (1-5 millimeters wide)
mineralization is dominantly copper. A number of outcrops
exhibit fracture controlled chalcocite mineralization where
fractures up to 7 centimeters wide have been observed. This
style of mineralization exhibits a dominant northeast and secondary
northwest trend with similar dip directions. Fracture density
is variable but in specific outcrops, fracture spacing of 1-2
centimeters has been observed.
Area #2 consists of Quartz Vein and Fracture
controlled copper mineralization hosted in Precambrian Pinal
Schist, Diabase and the Ruin Granite that contains significantly
lower concentration of molybdenum and variable concentrations of
gold and silver. The strike and dip directions for these
styles of copper mineralization are similar to that observed in
Area #1.
The Median Values for the three styles of
mineralization at Mineral Mountain are presented below:
|
|
Median
Values |
Style of |
Number of |
Cu |
Cu |
Mo |
Au |
Ag |
Mineralization |
Samples |
(ppm) |
(%) |
(ppm) |
(ppb) |
(ppm) |
Disseminated |
47 |
2,595 |
0.259 |
4.0 |
11.0 |
2.3 |
Quartz Vein |
141 |
5,770 |
0.577 |
10.7 |
28.0 |
2.6 |
Fracture |
135 |
1,523 |
0.152 |
3.0 |
10.0 |
1.5 |
Cu = copper, Mo = molybdenum, Au = gold, Ag
=silver, (%) = percent, ppm = parts per million, ppb = parts per
billion
The range of the metal concentrations for each
style of mineralization at Mineral Mountain is shown below:
|
|
Range of
Values |
Style of |
Number of |
Cu |
Cu |
Mo |
Au |
Ag |
Mineralization |
Samples |
(ppm) |
(%) |
(ppm) |
(ppb) |
(ppm) |
Disseminated |
47 |
73 to
20,200 |
0.007 to 2.20 |
0.5 to 1,060 |
5 to
696 |
0.4 to 65.4 |
Quartz Vein |
141 |
80 to
103,800 |
0.008 to 10.38 |
0.2 to 2,080 |
5 to
872 |
0.2 to 483 |
Fracture |
135 |
13 to 30,000 |
0.001 to 3.00 |
0.5 to 282 |
5 to 465 |
0.2 to 65.4 |
Cu = copper, Mo = molybdenum, Au = gold, Ag
=silver, (%) = percent, ppm = parts per million, ppb = parts per
billion
Analytical and Sampling
Procedures:Analytical results used in this news release
represent selected rock chip samples of the three styles of
mineralization from the Mineral Mountain project. The samples
were collected to characterize the base metals and trace element
geochemistry present in veins, other mineralized structures and
outcrops. The samples were picked up from site by Skyline
Laboratories of Tucson, Arizona.
The samples were crushed to plus 75% -10 mesh,
split and pulverized to plus 95% -150 mesh. Pulps were
subjected to a multi-acid digest (HNO3, HF, and HClO4). Gold
was analyzed on a 30-gram charge by fire assay (FA-01) with an
atomic absorption finish. Skyline’s package code TE-5 was
used to analyze the samples for the base and other trace
elements. Metal concentration in samples exceeding the upper
limit of detection were assayed for copper using (MEA) and silver
(FA-04). Skyline has an ISO/IEC 17025/2005 accreditation.
Elmer B. Stewart, MSc. P. Geol., President and
CEO of Copper Fox, is the Company’s non-independent, nominated
Qualified Person pursuant to National Instrument 43-101, Standards
for Disclosure for Mineral Projects, and has reviewed and approves
the scientific and technical information disclosed in this news
release.
About Copper Fox:Copper Fox is
a Tier 1 Canadian resource company listed on the TSX Venture
Exchange (TSX-V: CUU) focused on copper exploration and development
in Canada and the United States. The principal assets of
Copper Fox and its wholly owned Canadian and United States
subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper
Inc., are the 25% interest in the Schaft Creek Joint Venture with
Teck Resources Limited on the Schaft Creek
copper-gold-molybdenum-silver project located in northwestern
British Columbia and a 100% ownership of the Van Dyke oxide copper
project located in Miami, Arizona. For more information on
Copper Fox’s other mineral properties and investments visit the
Company’s website at http://www.copperfoxmetals.com.
On behalf of the Board of Directors
Elmer B. StewartPresident and Chief Executive Officer
For additional information contact:
Copper Fox Metals Inc.Lynn
Ball: investor@copperfoxmetals.com(844) 484-2820 or (403)
264-2820www.copperfoxmetals.com
Neither the 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 InformationThis news release contains
forward-looking statements within the meaning of the Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, and forward-looking information within the
meaning of the Canadian securities laws (collectively,
“forward-looking information”). 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 regarding: a Laramide age porphyry system with two
separate targets; three zones of disseminated copper-molybdenum
mineralization in Area #1, the largest of which measuring
approximately 1,000m long by 350-450m wide; the higher
concentrations of molybdenum associated with the largest area of
disseminated copper mineralization in Area #1; the
copper-molybdenum mineralization in Area #1 coinciding with a large
positive chargeability anomaly outlined in 1971; Area #2 being
characterized by quartz vein and fracture hosted copper
mineralization with significantly lower concentrations of
molybdenum than recorded in Area #1; a significant copper
discovery; and the approximate dimensions of the mineralized zones
and average concentrations of the metals for the various styles of
copper mineralization.
In connection with the forward-looking
information contained in this news release, Copper Fox and its
subsidiaries have made numerous assumptions regarding, among other
things: the geological advice that Copper Fox has received is
reliable and is based upon practices and methodologies which are
consistent with industry standards; and the reliability of
historical reports. 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 dimensions and shape of the
mineralized areas may not be as estimated; the surface
mineralization may not represent buried porphyry style
mineralization; uncertainties relating to interpretation of the
outcrop sampling results; the geology, continuity and concentration
of the mineralization; the financial markets and the overall
economy may deteriorate; the need to obtain additional financing
and uncertainty of meeting anticipated program milestones; and
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.
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