Welcome!

News Feed Item

Copper Fox Announces Van Dyke Drill Results and Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/07/14 -- Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX VENTURE: CUU) and its wholly owned subsidiary Desert Fox Copper Inc. ("Desert Fox") are pleased to announce the analytical results for the first three drill holes from the verification drilling program on the Van Dyke oxide copper deposit located in the Globe-Miami District, Gila Co., Arizona as well as other corporate activities. Copper Fox is also pleased to report that on July 25, 2014, BC Hydro announced the completion of the Northwest Transmission Line extending from Terrace to Bob Quinn, British Columbia, Canada. The hydroelectricity from this 287Kv line is expected to provide power to the large, advanced stage mineral projects in this area, such as the Schaft Creek project, a Joint Venture between Teck Resources Limited and Copper Fox.

Highlights:


--  Diamond drill hole (DDH) VD14-01 has extended the western limits of the
    copper mineralization in the Van Dyke oxide copper deposit approximately
    40 meters (m). This hole intersected 0.33% total copper over an interval
    of 139.9m. The copper mineralization is open to the west,
--  DDH VD14-02 intersected an average of 0.56% total copper over a core
    interval of 216.4m, including 1.98% total copper over a 16.7m core
    interval. This 16.7m core interval contains one sample that returned
    20.74% total copper over a core interval of 0.91m,
--  DDH VD14-03 intersected an average of 0.68% total copper, over a core
    interval of 120.7m starting at a core length of 314.0m, including a
    17.1m core interval of 1.27% total copper, and
--  The total soluble copper in these drill holes ranged from 73% to 97% of
    the total copper content in the drill holes.

Results for the mineralized intervals are tabulated below:


                                                                       Total
DDH     Zone   Azimuth     Dip          From     To Interval   Total Soluble
----------------------------------------------------------------------------
                                                              Copper  Copper
ID                                       (m)    (m)      (m)     (%)     (%)
----------------------------------------------------------------------------
VD14-01 Oxide  0           90          228.7  368.6    139.9    0.33    0.24
----------------------------------------------------------------------------
VD14-02 Oxide  0           90          375.2  591.6    216.4    0.56    0.39
----------------------------------------------------------------------------
               including               381.5  398.2     16.7    1.98    1.86
----------------------------------------------------------------------------
               including               427.4  436.3      8.9    1.12    1.09
----------------------------------------------------------------------------
               Including               560.4  568.4      8.0    0.84    0.77
----------------------------------------------------------------------------
VD14-03 Oxide  0           90          314.0  434.7    120.7    0.68    0.53
----------------------------------------------------------------------------
               including               384.9  402.0     17.1    1.27    1.08
----------------------------------------------------------------------------
               Including               413.7  434.8     21.1    1.08    0.93

Core interval does not represent true thickness of the mineralized zone

Mr. Stewart, President of Copper Fox stated, "The total copper and total soluble copper concentrations in these three holes are encouraging. Testwork to determine the percentage copper recovery is in progress and an interim progress report is expected shortly. The combination of assay results and percentage copper recovery are required before commencing a resource estimation and are the first steps in accessing the potential value of the Van Dyke oxide copper deposit."

Diamond Drilling Analytical Results:

The weighted average grades for the three diamond drill holes were estimated using a 0.05% copper cutoff; in line with the cutoff used to estimate the average grade used in other in-situ recoverable copper deposits currently under evaluation in Arizona. The correlation of the analytical results for the verification drilling program with the historical analytical results will be completed on receipt of all the analysis from the current drilling program. The above table shows the total copper and soluble copper concentrations in the core samples. The total soluble copper concentration is the total amount of copper that could be recovered utilizing solutions.

DDH VD14-01 is a step out drill hole located approximately 40m west of the previously interpreted western edge of the Van Dyke oxide copper deposit. The mineralized zone is open to the west. Below the oxide zone of mineralization, the interval from 379.0 to 609.6m (230.6m) averaged 0.17% copper and 0.026% molybdenum. This zone of sulphide mineralization is open at depth.

DDH VD14-02 was completed to verify the oxide copper mineralization reported in DDH OXY-6. The mineralized interval in DDH VD14-02 includes three intervals of higher grade total copper mineralization. In addition to the high grade copper sample mentioned in the Highlights, one sample in this hole returned 7.54% total copper over a 0.33m interval. This sample is not included in the three intervals of higher grade total copper mineralization reported in the above table.

DDH VD14-03 was completed to verify the oxide copper mineralization reported in DDH OXY-8. The mineralized interval in this hole includes two intervals of higher grade total copper mineralization. The copper concentration in the samples from the higher grade intervals reported for this hole ranges from 0.50% to 2.61%.

Van Dyke Project:

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

The Van Dyke oxide copper deposit is described in a report authored by Clyde R. Caviness dated March 1, 1976 and entitled "Van Dyke Ore Reserve Report" (the "Caviness Report") on behalf of Occidental Minerals Corporation. 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 the Company's news release dated April 12, 2013 for further detail with respect to the Caviness Report and the historical estimate reported therein). 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 estimate, additional diamond drilling, metallurgical test work, updated cost assumption and metal pricing would be required.

Sampling Procedures:

Sample preparation and analytical work was completed by Skyline Assayers & Laboratories located in Tucson, Arizona. The sequential copper analysis uses a 0.25 gram sample digested (at room temperature) in 5% sulfuric acid and the solution is then diluted to 100 mL with deionized water. The residue from the sample is digested in 10% sodium cyanide solution and diluted to 100 mL. The samples are placed in a lateral shaking machine as follows: i) 5% H2SO4 for one hour; and ii) 10% NaCN for thirty minutes.

The gold and silver analyses were completed using Skyline's FA-1 and FA-8 analytical procedures. The other base metals such as molybdenum, lead and zinc were analyzed utilizing a 20 gram sample and Skyline's TE-2 procedure and a three acid digestion followed by ICP/OES finish. Skyline is independent of Copper Fox and has a 17025-2005 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 and approved 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.

Copper Fox holds a 25% interest in a joint venture (the "Schaft Creek Joint Venture") with Teck Resources Limited on the Schaft Creek copper/gold/molybdenum/silver project located in northwestern British Columbia. On January 23, 2013, a National Instrument 43-101 Technical Report was prepared by Tetra Tech under the direction of Copper Fox comprising a feasibility study of a 130,000 tonne per day-open pit mine with a Proven and Probable Reserve of 940.8 million tonnes grading 0.27% copper, 0.19 g/t gold, 0,018% molybdenum and 1.72 g/t silver, over a 21 year mine life with contained metal of 5.6 billion pounds of copper, 5.8 million ounces of gold, 363.5 million pounds of molybdenum and 51.7 million ounces of silver.

The Schaft Creek deposit hosts a Measured and Indicated Resource of 1.2 billion tonnes grading 0.26% copper, 0.017% molybdenum, 0.19 g/t gold and 1.69 g/t silver and a 597.2 million tonne Inferred Resource grading 0.22% copper, 0.016% molybdenum, 0.17 g/t gold and 1.65 g/t silver. The above stated Proven and Probable Reserves for the Schaft Creek project are included within the stated Measured & Indicated Resources for this project.

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, a 100% interest in 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. Copper Fox holds, through Northern Fox Copper Inc. (a wholly owned subsidiary of Copper Fox), a 40% interest in the Eaglehead copper/gold/molybdenum project located in northwestern British Columbia through its equity ownership of Carmax Mining Corp. (TSX-V: CXM). 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, but is not limited to, statements about: the partial results of the drilling program at the Van Dyke project; the availability of hydroelectricity from the Northern Transmission Line; the work required to verify the historical estimate at the Van Dyke project; the metallurgical testwork 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 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 remaining drill holes from the verification drilling program completed by Desert Fox on the Van Dyke oxide copper project may not yield significant copper mineralization; the actual mineralization on the Van Dyke deposit may not contain mineralization as favorable as suggested by the historical estimate; the historical estimates for the Van Dyke deposit may not be reliable or indicative of any commercial benefit to Copper Fox; Copper Fox may not be able to secure hydroelectricity from the Northern Transmission Line; 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; 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.

Contacts:
Copper Fox Metals Inc.
Investor line
1-844-484-2820

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
SYS-CON Events announced today that Secure Channels will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...