Welcome!

News Feed Item

Copper Fox Adds Second Drill to Van Dyke Project and Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/15/14 -- Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX VENTURE: CUU) and its wholly owned subsidiary Desert Fox Copper Inc. ("Desert Fox") is pleased to provide an update on the progress of the verification drilling program at its Van Dyke copper project in Arizona and other corporate activities. The Van Dyke oxide copper deposit is located in the Globe-Miami District, Gila Co., Arizona.

Highlights:

a) The first diamond drill hole ("DDH") VD14-01 has been completed to a depth of 639.3 metres ("m") (2,097 feet) in the vicinity of the Van Dyke head frame and intersected a 167m thick zone with visible oxide copper minerals in the Pinal Schist, this interval corresponds to the original hole drilled by Occidental Minerals Corporation ("Occidental"),

b) DDH VD14-01 intersected (from 338.8m to end of hole at 639.3m) and ended in weakly mineralized (vein and fracture controlled chalcopyrite-molybdenite mineralization) Pinal Schist and granodiorite/quartz monzonite porphyry below the zone of oxide copper mineralization,

c) A second diamond drill has been added to the program and is expected to commence drilling this week, and

d) Carmax Mining Corp ("Carmax") has received conditional approval for the proposed private placement by Desert Fox from the TSX Venture Exchange subject to delivery of certain documentation and undertakings. Carmax has scheduled a meeting of its shareholders to approve the private placement for May 22, 2014.

Mr. Stewart, President of Copper Fox stated, "The second diamond drill allows acceleration of the verification drilling program by increasing our production rate per day and at the same time decreasing our overhead costs per metre drilled. The occurrence of weakly mineralized schist and intrusive porphyry at the bottom of the first drill hole is encouraging, however, until the analytical results from the sampling completed within this zone are received, it is difficult to place any significance on this mineralization. We are pleased with the progress Carmax is making toward completion of the proposed private placement and look forward to completing this transaction in late May 2014."

Van Dyke Project:

The Globe-Miami District hosts the Pinto Valley, Carlota, Miami-East and Miami-Inspiration copper projects (all currently in operation) and the mined out Copper Cities and Old Dominion copper deposits. The Van Dyke oxide copper deposit is located adjacent to the Miami-East and Miami-Inspiration operations.

Occidental completed an historical estimate for the Van Dyke oxide copper deposit in a report authored by Clyde R. Caviness dated March 1, 1976 and entitled "Van Dyke Ore Reserve Report" (the "Caviness Report"). The historical estimate is quoted as 119.2 million tons that averaged 0.52% copper using a 0.20% copper cutoff (estimated to contain 1.2 billion pounds of total copper - see news release dated April 12, 2013 for further detail). The Caviness Report was completed using 34 diamond drill holes and cutoff grades that ranged from 0.10% to 0.40% copper, and was based on diamond drilling and information compiled by other companies who reviewed the data for the Van Dyke Deposit. Caviness estimated the volume of the mineralization on each cross-section within the deposit and estimated the volume of the mineralization between the cross-sections. The maximum distance of extrapolation used for the estimation was 400 feet between drill holes. Caviness used the extension of the mineralized trend, geology and grade of adjacent drill holes to extrapolate between the drill holes. The tonnage factor for the estimate was 12.5 cubic feet per ton. Copper assays over 2.5% were not used in the estimate. Caviness considered the estimate to be a geological ore reserve as no mining method was selected for the deposit. Caviness also identified several possible extensions to the deposit based on drill results.

(i)The historical estimate reported for the Van Dyke Deposit is historical in nature, Copper Fox wishes to clarify that an independent Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and accordingly, Copper Fox is not treating the above historical estimate as current mineral resources or mineral reserves. In order to verify the historical reserves a current Feasibility Study would be required which would include additional diamond drilling, metallurgical testwork, updated cost assumption and metal pricing.

From 1970 to 1979 Occidental conducted two in situ-leaching ("ISL") tests on the Van Dyke oxide copper deposit consisting of drilling injection and recovery wells into the deposit and circulating solution to recover copper. The first test consisted of two wells spaced 75 feet apart as well as hydrogeological and permeability test. The second test consisted of a five well pattern spaced at 100 feet apart. The second test was conducted for a period of approximately one year, the conclusions of which are summarized below:


a.  Maximum injection rates were 450 gallon per minute ("gpm") (at 95% of
    design capacity) and 275 gpm on a continuous basis,
b.  Maximum loading of pregnant solution for a one month period was 3.4 gram
    per litre ("gpl") from a portion of the deposit that assayed less than
    0.5% copper,
c.  Leach curves developed predicted a mine life recovery average of 3 gpl
    for the entire deposit,
d.  Total copper recovery should be 58.8% extraction from total available
    copper after 36 months leaching per gallery, clean up leaching should
    bring total to 75% extraction,
e.  Demonstrated hydraulic connection for a distance of up to 249 feet
    (76m),
f.  The fluid flow followed the principal stress axis and fracture pattern
    of the rock,
g.  Recovered leachate is clean of impurities and acid consumption per pound
    of copper was less than predicted,
h.  Porosity and permeability of the formation is suitable for full scale
    production,
i.  No apparent reason why full scale production cannot be accomplished, and
j.  Over 100,000 pounds of copper was produced during the test in pregnant
    solutions.

The information on the historical metallurgical test work on the Van Dyke deposit was taken from a report prepared for Occidental titled "Summary of In-Situ Leach Testing on the Van Dyke Copper Deposit Through 1981" by C.R. Caviness dated June 1986. As previously announced SGS Metcon/KD Engineering has been retained to design and manage the metallurgical test work required to for the Preliminary Economic Assessment on the Van Dyke oxide copper deposit.

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 Tier 1 Canadian resource company listed on the TSX-Venture Exchange (TSX VENTURE: CUU) focused on copper exploration and development in North America with offices in Calgary, Alberta and Miami, Arizona. 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 oxide copper project in the Globe-Miami Mining District, 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 the drilling program at the Van Dyke project and the expected commencement of a second diamond drill thereon; the private placement by Desert Fox in Carmax and related Carmax shareholders meeting; the historical estimate at the Van Dyke project; the historical metallurgical test work on the Van Dyke project; 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, regarding, among other things, the reported historical estimate and historical metallurgical test work on 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 drilling program, including the addition of a second drill, may not proceed as anticipated, or at all; the private placement by Desert Fox in Carmax and related Carmax shareholders meeting may not complete as currently anticipated, or at all; the actual mineralization on the Van Dyke Deposit may not contain any mineralization or mineralization as favorable as suggested by the historical estimate; 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 test work 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.

Contacts:
Copper Fox Metals Inc.
Investor line
1-866-913-1910

Copper Fox Metals Inc.
Lynn Ball
1-403-264-2820
www.copperfoxmetals.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2017 New York. The 20th Cloud Expo and 7th @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Internet to enable us all to im...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2017' as Conference Chair The @DevOpsSummit at Cloud Expo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great t...
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how ...