Copper Fox Metals Inc. Jan. 18 reported that initial assays from the 2022 drill program at Schaft Creek extend near-surface higher-grade zones with the large porphyry copper-gold deposit at this mine project in Northern British Columbia.

Being advanced under a joint venture between Teck Resources Ltd. (75%) and Copper Fox (25%), Schaft Creek hosts 1.35 billion metric tons of measured and indicated resources averaging 0.26% (7.76 billion pounds) copper, 0.17 grams per metric ton (7 million ounces) gold, 1.25 g/t (54.3 million oz) silver, and 0.017% (510.6 million lb) molybdenum.

A preliminary economic assessment prepared for Copper Fox in 2021 outlined plans for a 133,000-metric-ton-per-day mill and open pit mine at Schaft Creek that is forecast to produce roughly 5 billion pounds of copper, 3.7 million ounces of gold, 226 million lb of molybdenum, and 16.4 million oz of silver over 21 years of mining.

The 4,688 meters of drilling completed in 11 holes during the 2022 program at Schaft Creek focused on collecting samples to complement historical metallurgical test work.

The Schaft Creek Joint Venture has received results from six of the holes drilled last year; highlights include:

• 88 meters averaging 0.44% copper, 0.29 g/t gold, 1.91 g/t silver, and 0.022% molybdenum from a depth of 21 meters in hole DDH SCK-22-450.

• 234.6 meters averaging 0.45% copper, 0.27 g/t gold, 2.05 g/t silver, and 0.037% molybdenum from a depth of 16 meters in hole DDH SCK-22-452.

Both these holes were drilled in the Liard zone and within the pit that would be mined during the first five years under the mine plan outlined in the Schaft Creek PEA.

"The mineralized intervals reported in this news release further extend the near-surface higher-grade mineralized zones reported in 2021 and increase the continuity of this type of mineralization between existing drill holes," said Copper Fox Metals CEO Elmer Stewart.

While these holes confirm continuity of higher-grade mineralization proposed to be mined during the early years at Schaft Creek, the primary purpose of the drilling is for continued metallurgical work to better inform metal recoveries and comminution (crushing) characteristics.

Copper Fox Metals Inc.

Click on image for larger map.

"Receipt of the analytical results from the 2022 metallurgical drilling program allows sample selection for metallurgical test work to commence," Steward added.

Copper Fox says it will report results from the remaining five 2022 drill holes when they are received.

Author Bio

Shane Lasley, Publisher

Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.

• Email: [email protected]
• Phone: (907) 726-1095
• https://www.linkedin.com/in/shane-lasley-ab073b12/