VANCOUVER, Nov. 19, 2013 /CNW/ - Copper Fox Metals Inc.
("Copper Fox" or the "Company") (TSX-V: CUU) through its wholly
owned subsidiary, Desert Fox Minerals Co. ("Desert Fox") is
pleased to provide an update on an ongoing geochemical sampling
(Niton XRF) and surface mapping program on its Sombrero Butte
copper project (2,913 acres) located in the Bunker Hill Mining
District, 44 miles northeast of Tucson,
Arizona.
Highlights:
- Two large areas of elevated geochemical concentrations of
copper and molybdenum with vein controlled copper-molybdenum
mineralization, coincident potassic-sericite alteration and
sporadic tourmaline veining have been identified over a strike
length of 4 kilometres ("km"), this trend is open to the
southwest,
- Area #1; located in the northwest part of the 4km long zone
measures 1,000 meters ("m") by 1,200m and shows copper values
(associated with malachite, a copper oxide mineral) ranging from 76
parts per million ("ppm") to greater than 2,450ppm and with
molybdenum values ranging from 7ppm up to 252ppm and is open to the
west,
- Area #2; located in the southeast portion of the 4km long zone
measures 1,600m by 2,800m with copper values (associated with
malachite and chalcopyrite, a copper sulphide mineral) ranging from
76ppm to greater than 2,450ppm and with molybdenum values ranging
from 7ppm up to 489ppm and is open to the south,
- Three phases of cross-cutting porphyry dikes and at least 15
new mineralized breccia pipes carrying abundant copper veinlets
occur within the two target areas, and
- Extensive dickite (a hypogene clay mineral related to acid
alteration under advanced argillic conditions in porphyry copper
environments) alteration occurs in a number of breccia pipes that
appear to form a halo surrounding Area #2.
Mr. Elmer
Stewart, President of Copper Fox stated "Our exploration
target at Sombrero Butte is to find the source of the mineralized
breccia pipes that occur within the property. The preliminary
work to date has identified a mineralized trend that is open to the
west and southwest that hosts two large exploration targets with
many features similar to a classical porphyry
alteration-mineralization model. These targets exhibit an
outer limonite zone (interpreted to be due to oxidization of
pyrite) and an inner zone consisting of potassic-sericite
alteration and sporadic tourmaline veining, vein controlled
copper-molybdenum mineralization and multiple mineralized breccia
pipes; all positive features suggesting the existence of a porphyry
copper-molybdenum environment. Preparations for a deep
penetrating geophysical survey are underway to collect
chargeability, resistivity and Magnetotelluric data over these
target areas".
To view the location of the two target areas on
the Sombrero Butte project, please visit the Copper Fox website at
www.copperfoxmetals.com.
Area #1:
Area # 1 is located in the northwestern corner of the project, west
of the old Magma Chief Mine. The mineralized breccia pipes located
in the eastern portion of this area were drilled between 2006 and
2008 (see comments on mineralized breccia pipes below). The
copper-molybdenum vein hosted mineralization observed in outcrop
and the large area of elevated copper-molybdenite geochemical
values show an excellent correlation with the area of vein
controlled potassic and sericite alteration and tourmaline
veining.
Area #2:
The centre of this area coincides with a cluster of breccia pipes
and porphyry dikes located about 2km southeast of Area #1.
The copper-molybdenum vein mineralization observed in outcrop and
the large area of elevated copper-molybdenite geochemical values
show an excellent correlation with the area of vein controlled
potassic and sericite alteration and tourmaline veining. The
extent of the alteration and elevated geochemical values in this
area are not yet fully delineated.
Previous Drilling Results:
Breccia pipes are commonly associated with porphyry copper deposits
in this area. Between 2006 and 2008, 29 of 34 holes drilled
to test 8 breccia pipes on the Sombrero Butte property intersected
significant copper mineralization over core intervals ranging from
2m to 72m with average copper grades ranging from 0.37% to 5.85%
(see table below and news release dated July
9, 2012). The mineralization in these breccia pipes
remains open at depth. Some of the mineralized intervals from
the 34 holes are as follows:
Breccia Pipe |
Drill Hole ID |
From (m) |
To (m) |
Interval (m) |
Copper (%) |
Magma |
SB-02 |
286 |
334 |
48 |
1.06 |
Campstool |
SB-03 |
272 |
294 |
22 |
0.58 |
Sunset |
SB-05 |
18 |
40 |
22 |
4.74 |
Rattler |
SB-09 |
96 |
110 |
14 |
0.83 |
Audacious |
SB-14 |
20 |
86 |
66 |
1.45 |
Victor's |
SB-29 |
4 |
70 |
66 |
0.61 |
The mineralized intervals listed in the above
table do not represent true widths.
Survey Parameters:
The geochemical sampling of the Sombrero Butte project was
completed using an Niton XRF unit and includes 1,342 sample sites
collected on a 100m by 100m grid. Approximately 55% of the
project area (the northern portion) has been sampled to date.
A single Niton measurement was made directly on
the most mineralized material available within typically a
radius of three metres from each designated sample site usually
comprising a vein centerline or breccia matrix. The Niton
analyses on the vein-filling or breccia matrix minerals allows
better detection of hydrothermally introduced metals that might be
related to concealed or buried mineral deposits. No
independent laboratory confirmation of the Niton geochemical
results from these sample sites will be undertaken. Niton
values reported are only indicative of the introduction of
metals. They are not intended to be comparable to standard
laboratory assays and should not be relied upon.
At the start of each sampling traverse, the
Niton instrument was calibrated using its internal calibration
procedure and then checked against a NIST 2710 traceable standard
pulp sample containing the elements of interest (Cu, Mo). At
the end of each sampling traverse, the Niton instrument was again
checked against the NIST-traceable standard to ensure that the
instrument was still operating properly.
Van Dyke Project:
The recovery of the historical data collected by Occidental
Minerals Corporation from the Van Dyke oxide copper project between
1968 and 1972 has been completed. The recovery of over 6,000 boxes
of core and 3,500 of the original pulp samples from the drilling
programs as well as all cross-sections and maps has been
completed. Discussions are underway with several engineering
groups to review the historical data with the objective of
determining the additional work that needs to be completed to
advance this project to the Preliminary Economic Assessment
stage. Subject to the results of the above discussions, a
diamond drilling program (essentially a confirmation drilling
program) would most likely be the next activity completed on this
project.
Elmer B. Stewart,
MSc. P. Geol., President of Copper Fox, is the Company's nominated
Qualified Person pursuant to National Instrument 43-101, Standards
for Disclosure for Mineral Projects, has reviewed the technical
information disclosed in this news release.
About Copper Fox
Copper Fox is a Canadian resource development company listed on the
TSX-Venture Exchange (TSX-V: CUU) with offices in Calgary, Alberta and Vancouver, British Columbia. In addition
to Copper Fox's 25% interest in the Schaft Creek Joint Venture,
Copper Fox holds, through Desert Fox and its wholly-owned
subsidiaries, mineral tenures located in Pinal County, Arizona (the 'Sombrero Butte
Copper Project') and in Miami,
Arizona (the 'Van Dyke Copper Project'). Desert Fox
has opened an operations office in Miami,
Arizona. For further information on these projects,
please refer to the July 9, 2012 and
April 12, 2013 news releases found at
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 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
includes statements about potential areas of copper-molybdenum
porphyry style mineralization and exploration targets at the
Sombrero Butte property; the geochemical sampling (Niton XRF) and
surface mapping program at the Sombrero Butte property; plans for a
deep penetrating geophysical survey to collect chargeability,
resistivity and magnetotelluric data, and the timing thereof;
discussions with mining engineers, metallurgists and resource
geologists to advance the Van Dyke project to the Preliminary
Economic Assessment stage; and a potential diamond drilling program
at the Van Dyke property.
In connection with the forward-looking
information contained in this news release, Copper Fox has made
numerous assumptions, including the geological, metallurgical,
engineering, financial and economic advice and data 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
and/or Desert 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:
economically viable mineralization may never be discovered at the
Sombrero Butte property; delays in identifying exploration targets
and implementing exploration programs; a deep penetrating
geophysical survey to collect chargeability, resistivity and
magnetotelluric data at Sombrero Butte may not be commenced as
currently anticipated, or at all; the Van Dyke property may never
advance to the Preliminary Economic Assessment stage; a diamond
drilling program at the Van Dyke property may never be initiated;
fluctuations in copper and other commodity prices and currency
exchange rates; uncertainties relating to interpretation of drill
results and the geology, continuity and grade of mineral deposits;
uncertainty of estimates of capital and operating costs, recovery
rates, and estimated economic return; the need to obtain additional
financing to develop properties and uncertainty as to the
availability and terms of future financing; and the possibility of
delay in exploration or development programs or in construction
projects and uncertainty of meeting anticipated program
milestones.
SOURCE Copper Fox Metals Inc.