- Copper Fox (TSXV:CUU) has revealed its new exploration and operational plans, now the COVID-19 pandemic has begun to abate
- The company is still hopeful it can get back to field work in Arizona, which has recently experienced a spike in coronavirus case numbers
- In related news, Copper Fox’s subsidiary Northern Fox has received conditional approval from there TSXV to purchase the Eaglehead property in British Columbia
- The company’s largest asset, the Schaft Creek joint venture, will have its 2019 operations report released by mid-July
- Copper Fox (CUU) is in the grey and is trading at C$0.10 per share
Copper Fox (TSXV:CUU) has outlined its new exploration and operations outlook for 2020, after adjusting its plans following the onset of the COVID-19 pandemic.
The Schaft Creek joint venture is Copper Fox’s primary and most advanced asset and the company is in preparing the site’s activities report, which will be released in mid-July.
The company’s subsidiary Northern Fox has received conditional approval from the TSXVto purchase the Eaglehead Copper project from District Copper. The proposed acquisition is for 100 per cent of the Eaglehead property, which is located in northern British Columbia.
Northern Fox still need to obtain a permit from the British Columbian Ministry of Mines and Energy before the title transfer will take place.
The process of transferring the project permits and replacing the reclamation bond is currently underway.
In the hopes of restarting work in the region, the company has submitted its proposed geological field operations plan to authorities in Arizona. If approved the company will commence work at its Mineral Mountain and Sombrero Butte projects.
The company is cautiously optimistic that field work operations may still be possible in late 202, provided the coronavirus numbers don’t worsen Arizona.
President and CEO of Copper Fox Elmer B Stewart said “the COVID-19 pandemic has had a significant impact on the mineral industry by slowing and or delaying planned field activities.
“Completion of the 2019 Schaft Creek report by the Schaft Creek Joint Venture is our main priority.
“The company is working on a number of initiatives including completing the acquisition of the Eaglehead copper project located in the Liard Mining District in British Columbia,” he said.
Copper Fox (CUU) is in the grey and is trading at C$0.10 per share at 3:30pm EDT.