Copper Fox Metals assembles project team to explore Van Dyke ISCR Project to Prefeasibility Study Stage, Arizona

Copper Fox Metals Inc. [TSXV: CUU; OTCQX: CPFXF; FSE: HPU], through its wholly owned subsidiary Desert Fox Van Dyke Co., provided an update on its 100%-owned Van Dyke in-situ copper recovery (ISCR) project located in the Globe-Miami Mining District, Gila County, Arizona.

In 2020, Copper Fox completed an updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) on Van Dyke using a US$3.15/lb copper price for the base case economic model. The critical need for copper, the potential social and financial benefit to the Town of Miami and surrounding communities support Copper Fox’s decision to prepare an Execution Plan to advance Van Dyke to the Prefeasibility Study (PFS) stage.

Among other findings, the PEA indicated: project sensitivity to copper prices such that a US$0.25/lb. increase in copper price increased the after-tax NPV by approximately US$90 million; significant exploration potential to increase the project’s mineral resources, and recommendation to advance the project to the PFS stage.

The project team includes Stantec Consulting Services Inc., Samuel Engineering Inc., Bird Resource Consulting Corp., RGC Hydro Services, LLC, and Call& Nicholas, Inc.

Elmer B. Stewart, President and CEO of Copper Fox, stated, “We are pleased to have assembled this team of mining professionals led by Stantec, a global leader in surface and underground mining engineering, design, and project delivery, to assist Copper Fox in preparing an Execution Plan to complete a PFS level study on the Van Dyke project.

“These firms bring a vast amount of knowledge to the Van Dyke project based on their work experience on two other advanced-stage ISCR projects in Arizona. Copper Fox is adopting a phased approach to the PFS, the first step being preparation of the Execution Plan that maps out the scope, timing and estimated cost of the various programs and studies required to meet the threshold of a PFS level study. The information gained from completing this Execution Plan will assist the Board on decision making regarding progressing to the PFS stage for Van Dyke.”

Nick Hynd, Stantec Project Manager in Phoenix, added, “The Van Dyke project will produce much-needed copper in a safe and environmentally sound manner while providing hundreds of jobs for the Miami-Globe area. Stantec is proud to support Copper Fox in advancing this exciting project that will benefit the state of Arizona.”

Samuel Engineering has commenced the preparation of a preliminary geometallurgical model of the Van Dyke project. The modelling, using Cancha Geometallurgy software, is expected to provide a better understanding of the variability and distribution of the soluble copper mineralogy, identify geometallurgical domains and identify “gaps” in the current sample distribution across the deposit. Identification of the gaps allows Samuel to pre-select representative sample locations from the mineralogical zones within the Van Dyke deposit from future drillholes to support an updated geometallurgical model and better predict future copper production.

Copper Fox is a Tier 1 Canadian resource company focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 100% ownership of the Van Dyke oxide copper project located in Miami, AZ, the 100% interest in the Mineral Mountain and Sombrero Butte porphyry copper exploration projects located in Arizona, the 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project and the 100%-owned Eaglehead polymetallic porphyry copper project each located in northwestern British Columbia.