- Copper Fox Metals (TSXV:CUU) is announcing the start of 2024 exploration at its 25-per-cent-owned Schaft Creek project in British Columbia
- The project, a joint venture with Teck Resources, which acts as operator and owns a 75 per cent stake, is one of the largest undeveloped porphyry copper deposits in North America that contains significant gold, molybdenum and silver
- Copper Fox is a copper explorer and developer active on five projects in Canada and the United States
- Copper Fox Metals stock is unchanged year-over-year, but has gained 212.50 per cent since 2019
Copper Fox Metals (TSXV:CUU) is announcing the start of 2024 exploration at its 25-per-cent-owned Schaft Creek project in British Columbia.
The project, a joint venture with Teck Resources (TSX:TECK.A), which acts as operator and owns a 75 per cent stake, is one of the largest undeveloped porphyry copper deposits in North America with significant gold-molybdenum-silver by-products.
The 2024 program will progress with technical investigations to confirm the open pit design (including geotechnical drilling, metallurgical studies and waste rock and tailings characterization), as well as environmental baseline studies in alignment with the cultural practices of the Tahltan Nation, on whose traditional land Schaft Creek rests (including surface water, groundwater, fish, meteorology and glacial surveys) with eyes on ushering the project into initial pre-feasibility study work.
Schaft Creek’s 2021 preliminary economic assessment (PEA) details a 21-year mining operation generating over US$9.96 billion in free cash flow from the production of 5 billion pounds of copper, 3.7 million ounces of gold, 226 million pounds of molybdenum and 16.4 million ounces of silver in concentrate.
Leadership insights
“Completion of the 2023 geotechnical investigation augments the project’s geotechnical knowledgebase and makes recommendations for additional data collection and studies to better assess pit slope conditions ahead of updating the current open pit design,” Elmer B. Stewart, president and chief executive officer of Copper Fox Metals, said in a statement. “In relation to the metallurgy testwork, the preliminary indications from the grinding and metal recovery projections are encouraging. Completion of these studies are necessary to define metallurgical performance and optimize the overall processing flowsheet.”
About Copper Fox Metals
Copper Fox is a copper explorer and developer active in Canada and the United States. Besides Schaft Creek, the junior miner owns 100 per cent of the following projects:
- Van Dyke, 531.5 hectares, Arizona – 2020 PEA describes a 17-year operation generating US$1.4 billion in total free cash flow.
- Mineral Mountain, 2,633.8 hectares, Arizona – Two large-scale geophysical signatures with hundreds of mineralized showings.
- Sombrero Butte, 1,389 hectares, Arizona – 3 km to the north of Faraday Copper’s Copper Creek project, which contains a measured resource of 872.9 million pounds of copper, 15.7 million pounds of molybdenum and 3.5 million ounces of silver.
- Eaglehead, 15,831.55 hectares, British Columbia – An 8-km-by-3-km mineralized area that contains four open-ended porphyry copper deposits, two areas of widespread mineralization and 176 additional copper showings.
Copper Fox Metals (TSXV:CUU) is unchanged, trading at C$0.25 per share as of 10:38 am ET. The stock is unchanged year-over-year, but has gained 212.50 per cent since 2019.
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(Top photo of a drill site at Schaft Creek: Copper Fox Metals.)