The Conversation (0)
Copper Fox Metals (TSXV:CUU) provided a year-end update on projects related to its copper projects. The company plans to meet with contractors involved in the Van Dyke project in January to determine whether data collected so far would support a preliminary economic assessment. The company also expects to meet with joint venture partner Teck Resources (TSX:TCK.B) in January to discuss its 2015 plans for review and consideration.
As quoted in the press release:
The resource estimation completed by Moose Mountain Technical Services has defined an inferred mineral resource of 261.7 million tonnes at an average grade of 0.25% total copper containing approximately 1.44 billion pounds of copper (see news release dated December 19, 2014). The National Instrument 43-101 Technical Report for the Van Dyke deposit is expected to be filed before the end of January 2015 and should contain recommendations as to further work on the project.
The In-Situ Pressure Leaching tests completed by SGS indicate that approximately 89% of the copper in these samples is soluble with an average of 63% of the copper recovered over a 120 day leach cycle.
The hydrogeological and geotechnical information collected during the 2014 diamond drilling program has been compiled. This information is required to complete a Preliminary Economic Assessment.
Copper Fox president, Elmer B. Stewart, said:
We are very pleased with the technical progress of the Company over the past year. The establishment of an inferred mineral resource at Van Dyke (1.44 billion pounds of copper) and the acquisition of the equity interest in the Carmax (Copper Fox share equals 278 million pounds of copper) has added a total of 1.72 billion pounds of copper as well as molybdenum and gold all contained in the inferred resource category to our balance sheet at minimal cost. Going forward, the Company will continue to focus on large or potentially large copper project in North America.
Click here to read the Copper Fox Metals (TSXV:CUU) press release
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