Copper Fox Announces Sampling Expands Copper-Molybdenum-Gold Mineralization at Mineral Mountain
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 8, 2017) - Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX VENTURE:CUU)(OTC PINK:CPFXF) is pleased to report the final results of the 2016 rock sampling program on its 100% owned Mineral Mountain property, a Laramide age copper-molybdenum-gold project, located in central Arizona.
Elmer B. Stewart, President and CEO of Copper Fox, stated, "The final results from the sampling program has expanded the interpreted dimensions of the mineralized area to 1,100m by 900m. The increase in average copper concentration from that stated in our last news release on Mineral Mountain is due to a significant number of the samples from the final results containing copper assays in excess of 1% and up to 6.6% copper. The next step will be to compile and interpret the results of the work completed on this project over the past two years."
Highlights:
- The distribution of the additional sample results have expanded the area of mineralization from 800m by 600m to 1,100m by 900m. The mineralized area remains open in two directions.
- The copper content in the 35 samples that assayed over 1% copper is due to the presence of chalcocite.
- The mineralized area is located within the previously reported historical chargeability anomaly. The shape of the mineralized area and that of the chargeability anomaly are similar.
Mineral Mountain Project:
The Mineral Mountain project is located in a northeast trending structural lineament that hosts the porphyry copper deposits at Casa Grande, Resolution and in the Miami-Globe district in Arizona.
2016 Sampling Results:
The copper-molybdenite-gold mineralization occurs in quartz veins, quartz veinlets, sheeted quartz veins, and in potassic altered Laramide age granodiorite that has been intruded by a series of northeast trending hornblende diorite dikes and north-south trending aplite dikes. The vein-controlled mineralization exhibits three prominent trends being 10W to 015 NE (gold rich), 045NE to 060NE, and 070NE to 080NE.
The mineralization is hosted in steeply dipping classical "A" veins with potassic +/- chlorite +/- hematite envelopes and exhibits a rhenium-tellurium-bismuth geochemical association, features typical of a porphyry copper system.
The main copper minerals are chalcocite and chrysocolla along with rare chalcopyrite and covellite. Gangue minerals observed are goethite after pyrite (forming boxwork texture) and jarosite. The range of analytical values for the samples located within the mineralized area are shown in the following table:
| Analytical Values | ||||||
| Element | Minimum | Maximum | Average | |||
| Copper (%) | 0.021 | 6.6 | 1.21 | |||
| Molybdenum (%) | 0.0002 | 0.11 | 0.01 | |||
| Gold (g/t) | 0.005 | 3 | 0.16 | |||
| Silver (g/t) | 0.2 | 334 | 35 | |||
The average gold value for this zone is influenced by the sample that contained 2.640 g/t gold. Assigning a zero value to this sample, the average gold content of the zone is reduced by 28% to 0.112 g/t.
Analytical and Sampling Procedures:
Outcrop and trench and pit sampling (where applicable), as well as mapping lithologies, alterations, and vein assemblages, was completed. Rock chip samples (approximately one kilogram) were collected from outcropping material to characterize the metals present in veins and other mineralized structures. Outcrop exposures within the sampled area are estimated to 10-15%. The samples were transported and delivered in person to Skyline Laboratories in Tucson, Arizona.
Samples were crushed to plus 75% -10 mesh, split and pulverized to plus 95% -150 mesh. Pulps were subjected to a multi-acid digest (HNO3, HF, HClO4) followed by analysis by ICP/OES. Gold was analyzed on a 30-gram charge by fire assay with an atomic absorption finish. Fluorine was analyzed by an ion-selective electrode. The Skyline's package code TE-5 was used to analyze the samples for the base and other trace elements. Skyline has an ISO/IEC 17025/2005 accreditation.
Quality Control:
The first sample of each batch was a field blank. One certified standard pulp was inserted into the sample stream for each laboratory batch of twenty samples. A total of 5 field blanks and 12 certified reference standards were inserted with the sample batches for which analyses have been received. All standards were within +/-5% of accepted value for the standard.
Elmer B. Stewart, MSc. P. Geol., President 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 (TSX VENTURE:CUU) focused on copper exploration and development in Canada and the United States. Copper Fox and its wholly owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc. hold the assets listed below:
- 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.
- 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona.
- 65.4% of the shares of Carmax Mining Corp. who in turn own 100% of the Eaglehead copper-molybdenum-gold project located in northwestern British Columbia.
- 100% ownership of the Sombrero Butte copper project located east of Mammoth, Arizona.
- 100% ownership of the Mineral Mountain copper project located east of Florence, Arizona.
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 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 in this news release includes statements regarding the dimensions, shape, and location of the mineralized area; the samples that assayed over 1% copper containing chalcocite; and the average concentrations for copper, molybdenum, gold, and silver.
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, financial and economic advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards; the reliability of historical reports; and the stability of economic and market conditions. 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 dimensions, shape, or location of the mineralized area may not be as estimated; and the average copper, molybdenum, gold and silver concentrations may not be accurate.
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.