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Copper Fox Metals (TSXV:CUU) reported results from 2014 joint venture activities at its Schaft Creek project. Field work has identified a potential new zone of copper-gold mineralization, located north of the discovery zone.
As quoted in the press release:
A significant aspect of the 2014 activities undertaken by the Joint Venture is to identify opportunities to reduce capital expenditure. This initiative is related to a high level review on three aspects of the project where capital cost reductions may be achieved. These are: i) the location and construction of the containment dams for the tailing storage facility, ii) the re-location of the mill closer to the pit to reduce transportation distances and iii) camp facilities.
As part of the review of the metallurgical testwork, the Operator has recommended additional variability testwork to determine more accurately the metal recoveries and mill throughput at Schaft Creek. Geometallurgical modelling and additional testwork will be required in the next phase of studies to further advance the project.
The work completed during the balance of the year and any recommendations for 2015 activities will be reported on when they become available.
Copper Fox president and CEO, Elmer B. Stewart, said:
We are pleased with the progress of the Joint Venture at Schaft Creek. Some of the work currently underway is time consuming and detailed in nature. More time is required to complete this work which may result in the need to collect additional information to finalize the optimization work. The advanced stage of the project and the decisions to be made require that the Joint Venture address key risks related to the Schaft Creek project. The location of a new zone of mineralization is encouraging and supports our interpretation of the potential to locate additional zones of mineralization north of the Discovery zone.
Click here to read the Copper Fox Metals (TSXV:CUU) press release
Click here to see the Copper Fox Metals (TSXV:CUU) profile.
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