Copper Fox Metals Inc.
TSX VENTURE : CUU
OTC PINK : CPFXF

Copper Fox Metals Inc.

July 13, 2015 06:00 ET

Copper Fox Commences Titan-24 DCIP Survey at Sombrero Butte Copper Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 13, 2015) - Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX VENTURE:CUU)(OTC PINK:CPFXF) and its wholly owned subsidiary Desert Fox Copper Inc. ("Desert Fox") are pleased to announce the commencement of a Quantec Titan-24 DCIP survey on their Sombrero Butte copper project located in the Bunker Hill Mining District, Arizona.

The Titan-24 DCIP survey consists of two lines, each 6 kilometers long, for a total of 12 kilometers of survey. Field work completed in 2013 by Desert Fox outlined a 4 kilometer long area on surface that exhibits alteration, mineralized veining and geochemical signatures suggestive of a buried porphyry copper system. The Titan-24 DCIP survey is being completed across the 4 kilometer long zone to test for either chargeability and or resistivity signatures characteristic of a buried porphyry copper system. Approximately 40 mineralized breccia pipes (commonly associated with porphyry copper deposits in this part of Arizona) have been located within the four kilometer long zone and on the property. A number of these mineralized breccia pipes were exploited in the past by small-scale underground mining and more recently tested at depth with diamond drilling. The breccia pipes tested by diamond drilling contained higher grade copper mineralization over considerable widths (see News Release dated July 9th, 2012).

Elmer B. Stewart, President and CEO of Copper Fox stated, "We are pleased to be advancing the exploration of the Sombrero Butte project. The previous exploration results, the current activities by other copper companies in this area and the proximity to the San Manuel/Kalamazoo and Copper Creek copper deposits suggest potential to locate a large porphyry copper system at depth. The results of the proposed survey would be beneficial in aiding Desert Fox in making its corporate decision related to making the next property payment due later this year."

Elmer B. Stewart, MSc. P. Geol., President of Copper Fox, is the Company's nominated non-independent Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, has reviewed 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 (TSX VENTURE:CUU) focused on copper in Canada and the United States with offices in Calgary, Alberta and Miami, Arizona.

Copper Fox has four primary assets with associated resources and reserves as noted below:

  1. 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia.
  2. 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona.
  3. 50.97% of the shares of Carmax Mining Corp. who in turn own 100% of the Eaglehead copper-molybdenum-gold project located in northern British Columbia.
  4. 100% ownership of the Sombrero Butte copper project located east of Mammoth, Arizona.

Mineral Reserves Reserve Estimate Data Copper Fox Share Metal Holdings
Project Reserve Category Tonnes (Mt) Cu (%) Mo (%) Au (g/t) Ag (g/t) Cu
(Blbs)
Mo (Mlbs) Au (Mozs) Ag (Mozs)
Schaft Creek (1) Proven & Probable 940.81 0.27 0.02 0.19 1.72 1.40 93.31 1.44 12.98
Mineral Resources Resource Estimate Data Copper Fox Share Metal Holdings
Project Resource Category Tonnes (Mt) Cu (%) Mo (%) Au (g/t) Ag (g/t) Cu
(Blbs)
Mo (Mlbs) Au (Mozs) Ag (Mozs)
Schaft Creek (2) Measured & Indicated 1,228.60 0.26 0.02 0.19 1.69 1.78 113.60 1.84 16.70
Project Resource Category Tonnes (Mt) Cu (%) Mo (%) Au (g/t) Ag (g/t) Cu
(Blbs)
Mo (Mlbs) Au (Mozs) Ag (Mozs)
Schaft Creek (2) Inferred 597.19 0.22 0.02 0.17 1.65 0.72 50.73 0.84 7.90
Van Dyke (3) Inferred 261.68 0.25 0.00 0.00 0.00 1.44 0.00 0.00 0.00
Eaglehead (4) Inferred 102.50 0.29 0.01 0.08 0.00 0.33 11.52 0.13 0.00
Total Inferred 2.49 62.25 0.97 7.90
Copper in billions of pounds, molybdenum in millions of pounds, gold and silver in millions of ounces.
Numbers rounded to reflect best practise principles.
(1) & (2) Technical Report "Feasibility Study on the Schaft Creek Project, BC, Canada", dated January 23, 2013, prepared by Tetra Tech, A. Farah, P. Eng.; et al as Qualified Persons; at 0.15% CuEq cutoff. Reserves reported at $6.60/tonne net smelter return (NSR) cutoff.
(3) "Technical Report and Resource Estimation for the Van Dyke Copper Project", dated January 30, 2015 prepared by Moose Mountain Technical Services, S. Bird, P.Eng and R. Lane, P. Geo as Qualified Persons; at 0.05% TCu cutoff.
(4) "Technical Report on the Eaglehead Cu-Mo-Au Project, British Columbia, Canada", dated June 29, 2012, prepared by Roscoe Postle Associates Inc., B. Donough, P.Geo and D. Rennie, P.Eng as Qualified Persons; at 0.16% CuEq cutoff.
Note: Above stated Proven and Probable reserves are included in the Measured and Indicated resources reported for the Schaft Creek Project. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

For further information on these projects, please refer to the Company's website at www.copperfoxmetals.com.

On behalf of the Board of Directors

Elmer B. Stewart, President and Chief Executive Officer

Neither 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 information" within the meaning of the Canadian securities laws. 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 include statements about the geophysical exploration of the Sombrero Butte project, the results and interpretation of the historical diamond drill holes from the Sombrero Butte project, estimated timing and amounts of future expenditures; geological interpretations and statements about Copper Fox's strategy, future operations, prospects and the plans of management. Information concerning mineral resource and mineral reserve estimates also may be deemed to be forward-looking information in that it reflects a prediction of the mineralization that would be encountered if a mineral deposit were developed and mined.

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, metallurgical, engineering, financial and economic advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards. 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 Titan-24 DCIP survey may be delayed or not completed at all; the Titan -24 DCIP survey may not locate chargeability or resistivity signatures that would suggest buried porphyry copper mineralization; the Titan -24 DCIP survey may not be completed within the contemplated time frame or within the estimated cost, or at all; the uncertainties relating to interpretation of the copper mineralization reported in the historical drill core, uncertainties relating to the drill results and the geology, continuity and grade of the mineralization; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration; the uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals.

Known risk factors also include; fluctuations in copper prices and demand; currency exchange rates; conditions in the financial markets and the overall economy may continue to deteriorate; and statements about Copper Fox's strategy, future operations, prospects and the plans of management.

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.

Contact Information

  • Copper Fox Metals Inc.
    Investor line
    1-844-464-2820

    Copper Fox Metals Inc.
    Lynn Ball
    1-403-264-2820
    www.copperfoxmetals.com