VANCOUVER,
Dec. 3, 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 of recent
activities on its Van Dyke oxide copper deposit located in the
Globe-Miami mining district of Arizona. Copper Fox acquired 100% of
Bell Copper Corporation interest in the Van Dyke copper deposit in
early 2013 (see News Release dated April 12,
2013).
Highlights:
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| a) |
Moose Mountain Technical Services has been retained to review
and model all of the historical exploration and test leaching data
with the objective of making recommendation for further work
including diamond drilling to confirm the historical estimate of
112 million tons grading 0.53% copper, |
| b) |
Knight Piésold has been retained to review all historical
engineering, geotechnical and hydrogeological data generated by
Occidental Mineral Corporation in the 1970's and Kocide Chemical's
test in-situ production data generated between 1988 -1989, and |
| c) |
Greenwood Environmental working with Knight Piésold has been
retained to provide consulting services on the environmental and
permitting aspects of a potential in-situ leach mining project on
the Van Dyke oxide copper deposit. |
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Mr. Stewart, President and CEO of Copper Fox
stated, "The Van Dyke oxide copper deposit is a significant under
explored copper asset of the Company. The historical
estimation, in-situ leaching test work and production data from an
in-situ leach mining operation completed between the early 1970's
and 1989 yielded positive results. Our immediate objective at
Van Dyke is to complete the geological, engineering, geotechnical
and environmental work necessary to prepare a Preliminary Economic
Assessment there by establishing a valuation for this
project. The Van Dyke oxide copper deposit complements our
25% interest in the large Schaft Creek
copper-gold-molybdenum-silver deposit. We expect some or all
of the drilling results for the 2013 season at Schaft Creek to be
released in December."
Moose Mountain Technical Service
("MMTS"):
Representatives of MMTS have completed a site visit as part of
their mandate to review the existing historical exploration data to
establish the requirements to bring the historical data base into
National Instrument 43-101 ("NI-43-101") requirements. MMTS
will also review the previous metallurgical test work and
production data to evaluate the potential for in-situ leach mining
of the Van Dyke oxide copper deposit as well as make
recommendations for additional diamond drilling to generate an NI
43-101 Resource Estimate, and recommend additional studies to
complete a Preliminary Economic Assessment if justified.
Knight Piésold Consulting ("Knight Piésold"):
Representatives of Knight Piésold have completed a site
visit. Knight Piésold have provided similar consulting
services to a number of proposed and operating copper mines in
Arizona and will review the
following aspects of the Van Dyke oxide copper deposit:
Engineering Services
The scope of the preliminary engineering services at the Van Dyke
oxide copper deposit includes; i) Mine Development Alternatives
Analyses, ii) Underground Mine Rock Mechanics, iii) Hydrogeology,
iv) Surface Geotechnical support and v) Water Management including
water balance, ponds, pumping and pipework systems.
Environmental Services
Knight Piésold will prepare an overview of the mining permit
applications required in Arizona
to develop an in-situ oxide copper deposit. Knight Piésold
have recently provided permit assistance and technical support to
several proposed and operating copper mines in Arizona as well as geochemical
characterization and hydrological support for numerous
environmental permits in Arizona. As a first step, relevant
project permits and approvals will be identified that will include;
project-related impacts that may trigger compliance with the
National Environmental Policy Act (NEPA) production of an
Environmental Assessment or Environmental Impact Statement:
Environmental Baseline Studies
Knight Piésold will also design a baseline monitoring system to
quantify existing conditions at the Van Dyke oxide copper deposit
as well as i) Air Quality, ii) Surface and Groundwater Quality and
Quantity, iii) Vegetative and Biological Resources, iv) Cultural
and Archaeological Resources, v) Social and vii) Public Health and
Safety studies.
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, the Sombrero Butte copper project located in the
Bunker Hill Mining District, Arizona and the Van Dyke copper project
located in the Globe-Miami Mining District, Arizona. Desert Fox has opened an
operations office in Miami,
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 historical resource
estimates of the Van Dyke Deposit; work required to upgrade the
historical resource estimates of the Van Dyke Deposit and the
preparation of a Preliminary Economic Assessment; and the timing
and scope of drilling results for the 2013 season at Schaft
Creek.
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 estimates of 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 actual mineralization in the Van
Dyke Deposit may not be as favourable 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; some or all of the drilling results for the 2013 season at
Schaft Creek may not be released as contemplated; 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.