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Copper Fox Metals Inc. and Desert Fox Copper Inc. are pleased to provide shareholders analytical results for the last four drill holes.
Copper Fox Metals Inc. (TSXV:CUU, OTC:CPFXF) (“Copper Fox” or the “Company”) and its wholly owned subsidiary, Desert Fox Copper Inc. (“Desert Fox”) are pleased to provide shareholders analytical results for the last four drill holes and a brief summary of the 2019 analytical program from the Van Dyke In-Situ Leach (“ISL”) oxide copper project. The 2019 analytical program was completed to support an updated resource estimate for the Van Dyke deposit.
Highlights:
- DDH-OXY-48 returned an average of 0.278% acid soluble copper (“ASCu”) over a 117.05m core interval including a 9.44m core interval grading 1.074% ASCu.
- DDH-OXY-45A returned an average of 0.318% ASCu over a 71.02 m core interval including a 5.33m core interval grading 1.185% ASCu.
- The four drill holes reported in this news release confirm the presence of significant ASCu concentrations over substantial mineralized intervals between the Van Dyke shaft and DDH-VD14-01 (drilled in 2014).
- The 2019 program has extended the mineralization in the Van Dyke deposit to approximately 1,500m in an east-west direction and up to approximately 900m in a north-south direction.
Elmer B. Stewart, President and CEO of Copper Fox, stated, “The 2019 analytical program included 3,252 pulp and core samples and has defined the limits of the mineralized intervals in 37 historical drill holes from the Van Dyke deposit. The program consistently returned significantly higher concentrations of acid soluble copper; has defined the limits of the chalcocite blanket and extended (in most cases) the thickness of the mineralized intervals compared to historical data. The results of the program indicate that the mineralization is open to the west and southwest which suggests the potential to increase the size and total copper content of the Van Dyke deposit.”
The weighted average ASCu concentrations using a 0.05% ASCu cutoff for the four drill holes reported in this news release are shown below. Because the historical analytical data for these drill holes is not available, a comparison of the weighted average grades for the historical and 2019 analytical results is not possible.
TCu= total copper, (%) = percent, (m) = meters, ASCu = acid soluble copper, the above mineralized intervals do not represent true widths.
The Van Dyke deposit:
The Van Dyke deposit is interpreted to represent the weathered portion of a porphyry copper deposit. The mineralized envelope has been extended to approximately 1,500m in an east-west direction and 900m in a north-south direction and remains open to the west and southwest. The deposit displays two well-defined Supergene copper mineral assemblages consisting of a malachite-chrysocolla-azurite zone overlying a chalcocite zone. The Supergene copper mineralization overlies Hypogene (sulphide copper-molybdenum) mineralization. The copper mineralization is hosted in Pinal Schist and intrusive phases of the Schultz Granite.
The weighted average grades for the mineralized intervals were estimated using a 0.05% ASCu cutoff; in line with the cutoff grade used in the maiden resource estimate for the Van Dyke project completed in 2014. Cumulative missing core intervals from within the reported mineralized intervals in this news release are, OXY-44, 4.27m, OXY-45A, 14.69m, OXY-47A, 15.54m and OXY -48, 19.81m. The missing core intervals were included in the weighted average for the mineralized interval at zero grade. Where analytical results were available, a maximum interval of less than 10 meters grading less than 0.05% ASCu within the mineralized interval was tolerated when estimating the weighted average.
Analytical Procedures:
Sample preparation and analytical work was 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. 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.
Quality Control:
A total of 2 blanks and 9 certified reference standards were inserted (insertion rate 1:10) with the samples for which analyses are being reported. The Skyline results for the blanks and standards were within +/-5% of accepted value for the blanks 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 (TSX-V: 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 www.copperfoxmetals.com.
On behalf of the Board of Directors
Elmer B. Stewart
President and Chief Executive Officer
Company contact: Lynn Ball
844 464-2820 or 403 264-2820
investor@copperfoxmetals.com
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: completing an updated resource estimate; that no comparison between historical and current analytical results is possible for the four holes reported; higher acid soluble copper concentrations; thicker mineralized intervals; the mineralization is open to the west and southwest and the potential to increase the size and total copper content of the Van Dyke deposit.
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: additional exploration may not locate significant concentrations of soluble copper; the possibility that an updated resource estimate on the Van Dyke project may not be completed within a reasonable time frame or at all; uncertainties relating to interpretation of the analytical results; the geology, continuity and concentration of the mineralization; the financial markets and the overall economy may deteriorate; the need to obtain additional financing; 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.
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