Copper Fox Announces New Zone of Oxide Copper Mineralization and Expands Mineral Mountain Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 23, 2017) - Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX VENTURE:CUU)(OTC PINK:CPFXF) reports that it has added 57 mineral lode claims to 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 recent compilation work combined with a review of historical reports identified an area of oxide copper mineralization to the east of the Mineral Mountain project. The additional claims were added to cover the new zone of copper mineralization and protect the interpreted extension of the recently announced porphyry style mineralization hosted in a Laramide age Quartz Monzonite intrusion."
Highlights:
- 57 mineral lode claims totaling 1,157 acres (468.4 ha) have been added to the Mineral Mountain project.
- These mineral claims cover an area where historical reports indicate that oxide copper mineralization was intersected by diamond drilling to a depth 537 feet (163.7 m).
- Several occurrences of oxide copper mineralization were observed in this area when locating the claims.
- The oxide copper mineralization is hosted in the Pinal Schist and interpreted to be associated with a Laramide age Quartz Monzonite intrusive stock.
- The new claims cover the interpreted easterly extension of the recently announced mineralization and potassic/sericitic alteration (see news release dated March 2, 2017).
Mineral Mountain Project:
The Mineral Mountain project is located in the northeast trending Jemez structural lineament, the same trend that hosts the porphyry copper deposits at Casa Grande, Florence, Resolution and in the Globe-Miami district in Arizona.
The recent compilation of the 2015 and 2016 sampling results indicated that the mineralized trend extends to the east beyond the border of the Mineral Mountain project possibly associated with a linear trend of Laramide age Quartz Monzonite intrusive stocks.
A Masters of Science thesis completed by Eberhard A. Schmidt for the faculty of the Department of Geology, University of Arizona in 1967, Pages 81-82., reports the following "A drilling program initiated by the B.O.W. Mining Company in 1964 attempted to confirm disseminated copper mineralization in Pinal Schist about one-half mile northeast of the isolated Mineral Mountain Quartz Monzonite exposure in Box Canyon. The schist in this particular area is somewhat iron stained on the surface, and at one place a gently dipping shear zone exposes considerable amounts of copper carbonates. The company drilled several AX holes down to 537 feet and reportedly intersected copper oxide mineralization from surface to the bottom. No sulfide mineralization or an enriched zone were encountered." "As pointed out elsewhere in this manuscript, the writer believes that the Mineral Mountain Quartz Monzonite extends further to the east beneath the Pinal Schist. The observed iron staining in the overlying schist and the sparse copper mineralization may be intricately associated with the monzonite intrusion".
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-V: 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 location of additional oxide copper mineralization; the interpreted extension of the mineralized trend; and the estimated size and content of the reported oxide copper mineralization.
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 existence, depth, and location of the reported oxide copper mineralization may not be confirmed by additional exploration; the reported oxide copper mineralization may not be associated with the Quartz Monzonite stocks; the interpreted extension of the mineralized trend as previously reported may not be accurate; and future exploration of this area may not locate additional copper mineralization or copper mineralization at all.
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.