- Copper Fox Metals (CUU) has completed a preliminary economic assessment (PEA) for its Schaft Creek project in British Columbia
- According to the PEA, the pre-tax net present value of the project is US$1.4 billion, with an internal rate of return (IRR) of 15.2 per cent
- Mining of the Schaft Creek deposit is planned as a conventional truck-shovel open-pit mining operation
- Based on the PEA, permitting, detailed engineering, equipment procurement, construction, and start-up to full production is estimated to take five years
- Copper Fox Metals (CUU) is down 3.08 per cent, trading at $0.315 per share
Copper Fox Metals (CUU) has completed a preliminary economic assessment (PEA) for its Schaft Creek project in British Columbia.
The Schaft Creek copper-molybdenum-gold-silver porphyry deposit covers over 55,779 hectares in Tahltan Territory in northwestern BC.
The property is jointly managed by Teck Resources and Copper Fox, and is operated by Teck.
According to the PEA, the pre-tax net present value of the project is US$1.4 billion, with an internal rate of return (IRR) of 15.2 per cent.
The project has a net smelter return (NSR) of US$20.63 per tonne, and an estimated 21-year mine life producing 2.3 million tonnes of copper, 3.7 million ounces of gold, 226 million pounds of molybdenum, and 16.4 million ounces of silver in concentrate.
The PEA estimated initial capital costs of $2.653 billion, including operating costs of 8.66 per tonne of ore processed.
Elmer B. Stewart, president and CEO of Copper Fox, commented on the PEA results.
“We are very pleased with the results of the PEA,” he said, “and the recommended program work of C$23 million that could be considered by the operator to advance the Schaft Creek Project.
“In the first 5 years of full operation,” added Mr. Stewart, “the Schaft Creek Project has the potential to produce, on average, 398 million copper equivalent pounds (181Kt) per year.”
Copper Fox is committed to working with its joint venture partner to develop and operate the Schaft Creek project in a safe, ethical and socially responsible manner.
Mining of the Schaft Creek deposit is planned as a conventional truck-shovel open-pit mining operation.
Permitting, detailed engineering, equipment procurement, construction, and startup to full production, based on the PEA, is estimated to take five years.
Copper Fox Metals is a Canadian based resource company focused on the exploration and development of large, low-cost copper-gold projects in Canada and the United States.
Copper Fox Metals (CUU) is down 3.08 per cent, trading at $0.315 per share as of 12:55 pm ET.
