Copper Fox Announces 2015 Year End Operating and Financial Results

Copper Fox Metals Inc. (TSXV:CUU) announced its consolidated 2015 year-ended October 31, 20158 operating and financial results.
As quoted in the press release:

2015 Highlights

• The Schaft Creek Joint Venture (“SCJV”) completed among other things; diamond drilling, core re-logging and continued the optimization studies commenced in 2014. The results of the optimization studies completed to date are similar to that set out in the feasibility study on the Schaft Creek project prepared by Copper Fox in 2012,
• The SCJV increased its equity ownership in Liard Copper Mines Limited from 78% to 85.5%,
• The PEA is the first National Instrument 43-101 Technical Report prepared on the Van Dyke In-Situ Leach (“ISL”) copper project. This study suggests that the Van Dyke project has low cash costs, strong cash flows and an after-tax Net Present Value (“NPV”) of $US149.5 million and an Internal Rate of Return (“IRR”) of 27.9%,
• The PEA on the Van Dyke project recommended completion of a pre-feasibility study that includes additional diamond drilling and an in-situ pilot leach test at an estimated cost of $US16.6 million,
• Copper Fox increased its equity ownership in Carmax Mining Corp., to 65.4% thereby increasing its metal ownership from this project to 433 million lbs. copper, 14.4 million lbs. molybdenum and 173.3 ozs gold. Carmax owns the advanced stage Eaglehead porphyry copper-molybdenum-gold project located in northwestern British Columbia,
• Exploration identified a large chargeability/resistivity signature (typical of porphyry copper deposits) on the Sombrero Butte project, and
• The Mineral Mountain project provides the Company an economical, early stage entry into the Laramide porphyry copper province in Arizona; one of the most prolific copper districts in the world.

Copper Fox Metals President and CEO, Elmer B. Stewart, stated:

The successful completion of the Preliminary Economic Assessment (‘PEA’) on the Van Dyke project has moved this project from the exploration stage to the development stage, thus maintaining a proper balance in our property portfolio. To augment our property balance, Copper Fox has added the Mineral Mountain project, which we view as an economical, early stage entry into copper exploration in the Laramide copper province in Arizona. The increase in equity ownership in Carmax Mining Corp. increases our metal holdings and provides a larger interest in a developing, potentially large copper deposit located in a safe geopolitical jurisdiction. Going forward, the Company will continue to focus on conserving cash, advancing its assets on a technical and value added basis and executing its corporate strategy.

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