Copper Fox Announces Additional Significant Increases in Soluble Copper Concentrations from Van Dyke Copper Deposit
Calgary, Alberta--(Newsfile Corp. - February 28, 2019) - Copper Fox Metals Inc. (TSXV: CUU) (OTC Pink: CPFXF) ("Copper Fox" or the "Company") and its wholly owned subsidiary, Desert Fox Copper Inc. ("Desert Fox"), are pleased to announce additional analytical results from the recently announced program on the Van Dyke oxide copper deposit (see news release January 23, 2019). Van Dyke is an In-Situ Leach ("ISL") project where the commodity of interest is acid soluble copper ("ASCu").
- DDH-UVD-13 returned an average of 0.616% ASCu over a 93.84m core interval.
- The 2019 result for DDH-UVD-13 represent a 73% increase in ASCu content and a 51% increase in thickness of the mineralized interval.
- DDH-UVD-12 returned a combined mineralized interval of 102.47m versus 63.71m reported in the original data base, a 61% increase in thickness.
- The four drill holes show increases in weighted average ASCu concentration that range from 5 to 73% higher than in the original data base.
- The mineralized intervals in two of the drill holes are open and additional sampling is required to determine the length of these mineralized intervals.
Elmer B. Stewart, President and CEO of Copper Fox, stated, "The objective of the 2019 analytical program is to determine the dimensions and increase the confidence level of the acid soluble copper concentrations in the Van Dyke oxide copper deposit. The 2019 results received to date continue to yield higher acid soluble copper concentrations and thicker mineralized intervals. The 2019 results are encouraging and suggest that the dimensions of the Van Dyke deposit are larger than previously modelled."
The weighted average acid soluble copper concentrations for the 2019 results compared to the original results are:
|DDH || || ||From ||To ||Interval ||2019 ||Original ||2019 ||Original ||Acid Soluble |
|ID ||Azi ||Dip ||(m) ||(m) ||(m) ||TCu (%) || TCu (%) || ASCu (%) || ASCu (%) || 2019/Original (%) |
|OXY-7 ||0 ||-90 ||396.24 ||525.17 ||128.93 ||0.515 ||0.546 ||0.489 ||0.465 ||105% |
| || ||including ||412.39 ||415.14 ||2.75 ||1.772 ||1.967 ||1.662 ||1.857 ||89% |
| || ||including ||427.94 ||447.75 ||19.81 ||0.946 ||0.993 ||0.931 ||0.907 ||103% |
|OXY-25 ||0 ||-90 ||435.86 ||595.58 ||159.72 ||0.538 ||0.562 ||0.472 ||0.431 ||110% |
| || ||including ||474.57 ||488.89 ||14.32 ||0.824 ||0.873 ||0.709 ||0.690 ||103% |
| || ||including ||498.65 ||508.71 ||10.06 ||1.382 ||1.432 ||1.353 ||1.255 ||108% |
| || ||including ||521.82 ||533.70 ||11.88 ||0.834 ||0.754 ||0.872 ||0.732 ||119% |
| || ||including ||538.28 ||546.51 ||8.23 ||0.919 ||0.819 ||0.657 ||0.644 ||102% |
| || ||including ||558.09 ||559.61 ||1.52 ||1.66 ||1.839 ||1.460 ||1.512 ||97% |
|UVD-12 ||0 ||-90 ||310.29 ||326.66 ||16.37 ||0.330 ||0.349 ||0.247 ||0.252 ||98% |
| || || ||399.90 ||486.00 ||86.10 ||0.278 ||0.299 ||0.151 ||0.130 ||116% |
|UVD-13 ||0 ||-90 ||378.56 ||472.40 ||93.84 ||0.670 ||0.462 ||0.616 ||0.356 ||173% |
| || ||including ||381.91 ||390.29 ||8.38 ||1.025 ||1.097 ||0.998 ||0.916 ||109% |
| || ||including ||400.5 ||404.16 ||3.66 ||6.700 ||1.389 ||6.430 ||1.389 ||463% |
TCu= total copper, (%) = percent, (m) = meters, ASCu = acid soluble copper, the above mineralized intervals do not represent true widths.
Total Copper (TCu) concentrations reported in the original project data base correlates with the 2019 results whereas significant variation has been identified between the original soluble copper concentration and the 2019 results at the sample and drill hole level.
The weighted average grades for the mineralized intervals were estimated using a 0.05% copper cutoff, in line with the cutoff grade used in the maiden resource estimate for the Van Dyke project completed in 2014. A maximum interval of 3m below cut-off within the mineralized interval was tolerated when estimating the weighted average.
Sample preparation and analytical work were completed by Skyline Assayers & Laboratories located in Tucson, Arizona. Skyline's package codes CuT, CuSeq and CuCn were used to determine total copper, sequential copper and cyanide soluble copper. 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. Atomic Absorption Spectrometry ("AAS") was used to determine copper concentrations. Skyline has an ISO/IEC 17025/2005 accreditation.
A total of 3 field blank and 7 certified reference standards were inserted (insertion rate 1:12) with the sample for which analyses are being reported. QA/QC shows that the blank and standards were within +/-5% of accepted value for the blank and standards.
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 (TSXV: 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. Stewart
President and Chief Executive Officer
For additional information contact:
(844) 484-2820 or (403) 264-2820
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 Information
This 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: higher acid soluble copper concentrations than the initial analytical results; the correlation between the Total Copper concentration in the original analytical results and the 2019 work; and the requirement to complete copper analysis on additional historical sample pulps and drill core intervals.
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 analysis of remaining additional historical sample pulps and drill core samples may not yield the copper concentration as expected or at all; additional sampling may not locate significant concentrations; the possibility that an updated resource estimate on the Van Dyke project may not be completed with a reasonable time frame or at all; uncertainties relating to interpretation of the analytical results; the geology, continuity and concentration of the mineralization may not be as estimated or expected; the financial markets and the overall economy may deteriorate; the need to obtain additional financing; 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.