Copper Fox Announces Additional Drill Holes with Increased Soluble Copper Concentrations from Van Dyke Copper Deposit
Calgary, April 11, 2019 - Copper Fox Metals Inc. (TSXV: CUU) (OTC Pink: CPFXF) ("Copper Fox" or the "Company") and its wholly owned subsidiary, Desert Fox Copper Inc. ("Desert Fox") are pleased to announce additional analytical results from the Van Dyke oxide copper deposit (see news release January 23, 2019). Van Dyke is an In-Situ Leach ("ISL") project where the commodity of interest is acid soluble copper ("ASCu").
Highlights:
- DDH-OXY-10 returned an average of 0.748% ASCu over a 40.84m core interval including a 12.50m interval grading 2.253%ASCu.
- The four drill holes yielded increased weighted average ASCu concentrations of 16% compared to the original database.
- The four drill holes yielded an average 20% increase in the thickness of the mineralized intervals compared to the original database.
- The percentage ASCu/TCu is 30.7% higher in 2019 versus the original analytical results.
- The mineralized intervals in the four drill holes reported are open and additional sampling is required.
Elmer B. Stewart, President and CEO of Copper Fox, stated, "The results for 19 of the 23 drill holes that were re-analyzed yielded significant increases in the soluble copper concentrations over thicker mineralized intervals suggesting that the soluble copper content is higher and the dimensions of the deposit are larger than that used in the maiden resource estimate for the Van Dyke deposit completed in 2014. On receipt of the analytical results for the last four drill holes, the additional sampling required to close the mineralized intervals is planned."
The weighted average acid soluble copper concentrations for the drill holes reported in this news release are:
| DDH ID | Azi | Dip | From (m) | To (m) | Interval (m) | 2019 TCu (%) | Original TCu (%) | 2019 ASCu (%) | Original ASCu (%) | Acid Soluble 2019/Original (%) |
| OXY-10 | 0 | -90 including including | 338.33 353.26 353.26 405.38 455.68 | 379.17 365.76 353.87 436.17 501.4 | 40.84 12.50 0.61 30.79 45.72 | 0.749 1.939 28.935 0.187 0.371 | 0.706 1.990 30.305 0.188 0.410 | 0.748 1.862 27.989 0.133 0.178 | 0.641 1.775 30.355 0.092 0.094 | 117% 105% 92% 145% 189% |
| OXY-13 | 0 | -90 | 349.00 395.63 | 357.23 437.69 | 8.23 42.06 | 0.316 0.332 | 0.412 0.359 | 0.244 0.215 | 0.176 0.148 | 139% 145% |
| OXY-29 | 0 | -90 including including | 271.27 279.5 313.03 | 361.41 305.1 319.13 | 90.14 25.60 6.10 | 0.637 1.043 1.390 | 0.662 1.080 1.480 | 0.491 0.839 1.261 | 0.544 0.897 1.379 | 90% 94% 91% |
| VD-7 | 0 | -90 including | 384.66 389.53 | 470.92 395.94 | 86.26 6.41 | 0.275 1.015 | 0.303 1.045 | 0.229 0.998 | 0.209 0.983 | 110% 102% |
TCu= total copper, (%) = percent, (m) = meters, ASCu = acid soluble copper, the above mineralized intervals do not represent true widths.
The original Total Copper (TCu) concentrations reported in the project data base show a good correlation with the 2019 results.
The following table shows the comparison of the ASCu concentrations and thickness of the mineralized intervals for the four holes reported in this news release.
| 2019 Results | Original Results | |||||||||
| DDH ID | From (m) | To (m) | Interval (m) | 2019 ASCu (%) | From (m) | To (m) | Interval (m) | Original ASCu (%) | Acid Soluble 2019/Orig (%) | Thickness 2019/Orig(m) |
| OXY-10 | 338.33 405.38 455.68 | 379.17 436.17 501.40 | 40.84 30.79 45.72 | 0.748 0.133 0.178 | 339.85 426.72 473.96 | 379.17 460.55 489.51 | 39.32 33.83 15.55 | 0.641 0.092 0.094 | 117% 145% 189% | 1.52 -3.04 30.17 |
| OXY-13 | 349.00 395.63 | 357.23 437.69 | 8.23 42.06 | 0.244 0.215 | 0.00 395.63 | 0.00 434.34 | 0.00 38.71 | 0.176 0.148 | 139% 145% | 8.23 3.35 |
| OXY-29 | 271.27 | 361.42 | 90.15 | 0.491 | 268.22 | 366.67 | 98.45 | 0.544 | 90% | -8.30 |
| VD-7 | 384.66 | 470.92 | 86.26 | 0.229 | 388.01 | 449.28 | 61.27 | 0.209 | 110% | 24.99 |
TCu= total copper, (%) = percent, (m) = meters, ASCu = acid soluble copper, the above mineralized intervals do not represent true widths.
The weighted average grades for the mineralized intervals were estimated using a 0.05% copper cutoff; in line with the cutoff grade used in the maiden resource estimate for the Van Dyke project completed in 2014. A maximum interval of 3 meters below cut-off within the mineralized interval was tolerated when estimating the weighted average.
Analytical Procedures:
Sample preparation and analytical work was completed by Skyline Assayers & Laboratories located in Tucson, Arizona. Skyline's package codes CuT, CuSeq and CuCn were used to determine total copper, sequential copper and cyanide soluble copper. The sequential copper analysis uses a 0.25 gram sample digested (at room temperature) in 5% sulfuric acid and the solution is then diluted to 100 mL with deionized water. The residue from the sample is digested in 10% sodium cyanide solution and diluted to 100 mL. Atomic Absorption Spectrometry ("AAS") was used to determine copper concentrations. Skyline has an ISO/IEC 17025/2005 accreditation.
Quality Control:
A total of 4 blanks and 7 certified reference standards were inserted (insertion rate 1:14) with the sample for which analyses are being reported. QA/QC shows that the blank and standards were within +/-5% of accepted value for the blank and standards.
Elmer B. Stewart, MSc. P. Geol., President and CEO of Copper Fox, is the Company's non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.
About Copper Fox:
Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange (TSXV: CUU) focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25% interest in the Schaft Creek Joint Venture with Teck Resources Ltd. on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia and a 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona. For more information on Copper Fox's other mineral properties and investments visit the Company's website at http://www.copperfoxmetals.com.
On behalf of the Board of Directors
Elmer B. Stewart
President and Chief Executive Officer
For additional information contact:
Lynn Ball: investor@copperfoxmetals.com
(844) 484-2820 or (403) 264-2820
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and forward-looking information within the meaning of the Canadian securities laws (collectively, "forward-looking information"). Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "budgets", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release includes statements regarding: higher acid soluble copper concentrations than the initial analytical results; the correlation between the Total Copper concentration in the original analytical results and the 2019 work; the requirement to complete copper analysis on additional historical sample pulps and drill core intervals.
In connection with the forward-looking information contained in this news release, Copper Fox and its subsidiaries have made numerous assumptions regarding, among other things: the geological advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards and the reliability of historical reports. While Copper Fox considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause Copper Fox's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the analysis of remaining additional historical sample pulps and drill core samples may not yield the copper concentration as expected or at all; additional sampling may not located significant concentrations; the possibility that an updated resource estimate on the Van Dyke project may not be completed with a reasonable time frame or at all; uncertainties relating to interpretation of the analytical results; the geology, continuity and concentration of the mineralization; the financial markets and the overall economy may deteriorate; the need to obtain additional financing; uncertainty as to timely availability of permits and other governmental approvals.
A more complete discussion of the risks and uncertainties facing Copper Fox is disclosed in Copper Fox's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Copper Fox disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44011
