Copper Fox Announces 2019 Schaft Creek Program
CALGARY, Alberta, Feb. 08, 2019 (GLOBE NEWSWIRE) — Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSX-V: CUU – OTC: CPFXF) is pleased to provide its shareholders an outline of the 2019 program for the Schaft Creek copper-gold-molybdenum project located in northwestern British Columbia. The Schaft Creek project is managed through the Schaft Creek Joint Venture (“SCJV”). Teck Resources Limited (“Teck”) is the Operator of the SCJV and holds a 75% interest with Copper Fox holding the remaining 25% interest.
The 2019 program highlights are outlined below:
- Budget of C$2.1 million;
- Environmental studies and associated data collection across the project footprint;
- Field studies to further investigate the geotechnical characteristics of the tailings management facility;
- Permitting and community relations activities; and
- Strengthening the Schaft Creek project management team.
Elmer B. Stewart, President and CEO of Copper Fox, stated: “Schaft Creek is one of the largest undeveloped polymetallic porphyry copper deposits in North America and represents a unique opportunity given the low inventory of advanced copper projects. The work plan for 2019 includes the completion of the sizing and infrastructure alternatives study initiated in 2018 and completion of a more in-depth conceptual study to confirm the identified scenarios to lower capital and operating costs, infrastructure and further define access options. This work will be accompanied by select fieldwork. Other activities planned in 2019 include collection of additional baseline environmental data and ongoing engagement with the Tahltan Nation.”
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 (TSX-V: 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 Limited 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.
For additional information contact: Investor line 1-844-484-2820 or Lynn Ball, at 1-403-264-2820.
On behalf of the Board of Directors
Elmer B. Stewart
President and Chief Executive Officer
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 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 budget for the 2019 Schaft Creek program of approximately $2.1 million; environmental studies; field studies to investigate the geotechnical characteristics of the tailing management facility; permitting and community relations activities; strengthening the project management team; completing the sizing and infrastructure alternatives study initiated in 2018; completing a more in-depth conceptual study to confirm the identified scenarios to lower capital and operating costs, infrastructure and further define access options; and ongoing work with the Tahltan Nation.
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; the speed of field studies; 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 budget of the 2019 program may be under-estimated; the permitting and community relations aspects of the project and the desktop studies may not occur within the time expected frame or at all; uncertainties relating to interpretation of the previous results; the overall economy may deteriorate; uncertainty of meeting anticipated program milestones; uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs; fluctuations in copper prices and demand; currency exchange rates; conditions in the financial markets; and 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.