Copper Fox Metals Inc. (TSXV:CUU) and wholly owned subsidiary Desert Fox Copper Inc. announced the completion of the verification drilling program at the Van Dyke copper project in Arizona. Highlights include intersection of broad intervals of copper oxide and copper carbonate minerals in all holes, with two of the drill holes hitting weak quartz veinlet hosted chalcopyrite+/-molybdenite mineralization below the oxide copper mineralization.
As quoted in the press release:
- Six diamond drill holes (3,211.7m) were completed across the Van Dyke oxide copper deposit,
- Broad intervals of copper oxide and copper carbonate minerals were intersected in all holes, The copper mineralization is hosted in intrusive breccia, Pinal schist and granite porphyry,
- Two of the drill holes intersected weak quartz veinlet hosted chalcopyrite+/-molybdenite mineralization below the oxide copper mineralization,
- Copper Fox has requested that it be allowed to exercise its pre-emptive right and participate, through its wholly owned subsidiary Northern Fox Copper Inc., in a top-up of its investment in Carmax Mining Corp (“Carmax”) (TSX VENTURE:CXM) by subscribing for an additional 1,960,878 units of Carmax at a price of $0.05 per unit (each unit will consist of one common share and one common share purchase warrant), and
- Copper Fox has purchased and located a total of 2,130 ha of mineral tenures contiguous to the Eaglehead project held by Carmax. This land will be sold to Carmax at cost.
Copper Fox President, Elmer Stewart, said:
The visual observations of the core from Van Dyke are encouraging. Receipt of the assays utilizing different copper analytical methodologies are required to determine if a resource estimation should be commenced. All holes have been sampled for metallurgical testwork purposes and these tests are underway. The acquisition of the additional land contiguous to the Eaglehead project was completed to cover favorable volcanic rock on the west side of the project and intrusive rocks east and north of the Pass and Camp mineralized zones.