The Prospector News

Copper Fox Announces Schaft Creek Preliminary Economic Assessment

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Copper Fox Announces Schaft Creek Preliminary Economic Assessment






After-Tax NPV8 US$842.1 million (C$1.1billion); IRR 12.9%
Pre-Tax NPV8 US$1.4 billion (C$1.8 billion); IRR 15.2%
Projected After-Tax Payback 4.8 years
Metal Price Assumptions: Cu: US$3.25/lb, Au: US$1,500/oz, Mo: US$10.00/lb, Ag: US$20.00/oz


Copper Fox Metals Inc. (TSX-V: CUU) (OTCQX: CPFXF)  is pleased to announce the results of a Preliminary Economic Assessment for the Schaft Creek copper-molybdenum-gold-silver porphyry deposit located in Tahltan Territory in northwestern British Columbia. The Schaft Creek Project covers 55,779.56 ha of mineral concessions, located approximately 60 kilometers south of Telegraph Creek near existing transportation and energy infrastructure. The effective date of the PEA is September 10, 2021, a technical report relating to the PEA will be filed on SEDAR within 45 days of this news release. The 2021 PEA will supersede all previous studies and incorporates the Updated Mineral Resource Estimate announced on March 22, 2021.


The Schaft Creek Project is managed through the Schaft Creek Joint Venture formed in 2013 between Teck Resources Limited (75%) and Copper Fox (25%) with Teck being the Operator. The PEA was prepared by Tetra Tech Canada Inc. as the general contractor on behalf of Copper Fox in accordance with NI 43-101 standards (May 9, 2016), and CIM Definition Standards (May 19, 2014) with guidance from CIM Best Practice Guidelines (November 29, 2019). The results of the PEA are presented on a 100% project basis and in US$ unless stated otherwise.


PEA Highlights


  • Pre-Tax Net Present Value of US$1.4 billion and Internal Rate of Return of 15.2%
  • After-Tax NPV8 of US$842.1 million and IRR of 12.9%
  • Average annual EBITDA(6) of US$695.4 million based on first 5 years(1) (Years 2-6) at full production, and US$10.8 billion Life of Mine
  • Average annual Free Cash Flow before recovery of capital costs of US$633.4 million based on first 5 years(1) (Years 2-6) at full production and US$9.96 billion LOM
  • Net Smelter Return of US$20.63 per tonne
  • 21-year Life of Mine producing approximately 5.0 billion pounds or 2.3 million tonnes  copper, 3.7 million ounces gold, 226.0 million lbs molybdenum and 16.4 million oz silver in concentrate
  • 133,000 tonne per day LOM nominal milling rate at 92% capacity processing 1.030 billion tonnes of mill feed LOM, representing approximately 60% of identified mineral resources
  • Estimated Initial Capital Costs of US$2.653 billion, not including Sustaining Capital Costs of US$848.7 million which is inclusive of US$154.0 million Closure Costs. Operating Costs are estimated to be US$8.66/t processed
  • C1 Cost(7) (net of by-product credits); for first 5 years(1) (Years 2-6) at full production of US$0.46 per pound of payable copper and US$1.00 per pound payable copper LOM
  • All in Sustaining Costs(7) for first 5 years(1) (Years 2-6) at full production of US$0.72 per pound payable copper and US$1.18 per pound payable copper LOM


The results of the PEA are preliminary in nature. The PEA includes a combination of indicated and inferred mineral resources which are considered too speculative geologically to have the economic considerations applied that would enable them to be categorized as mineral reserves. There is no certainty that the PEA forecasts will be realized or that any of the resources will ever be upgraded to reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability.


Elmer B. Stewart, President and CEO of Copper Fox, stated: “We are very pleased with the results of the PEA and the recommended program work of C$23 million that could be considered by the Operator to advance the Schaft Creek Project to the Pre-Feasibility Study stage of study and evaluation. The significantly higher investment returns, resulting in part from project enhancements developed over the past 2 years, and remaining resources in the deposit on completion of the first 21 years of mining, provides a compelling view of the Schaft Creek Project’s financial potential. The smaller project “footprint” and ability to access hydroelectric power from the existing provincial power grid is expected to reduce capital costs, as well as lower CO2 emissions and the impact on the environment when compared to other large copper development opportunities. The Schaft Creek Project is a copper-molybdenum-gold-silver conventional truck-and-shovel development opportunity with scale, optionality and is in a Tier 1 mining jurisdiction. In the first 5 years of full operation, the Schaft Creek Project has the potential to produce, on average, 398 million copper equivalent pounds (181Kt) per year.”


Key Changes from Previous Technical Study in 2013


  • Updated mine plan that reduced the strip ratio from 2.16:1 to 1:1
  • LOM average operating cost per tonne processed reduced from US$13.25/t to US$8.66/t
  • Initial capital costs reduced from US$3.26 billion to US$2.65 billion
  • Sustaining Capital Costs reduced from US$1.20 billion to US$848.7 million
  • Re-location of the milling facility closer to the pit
  • Re-location of the Tailing Management Facility (TMF) closer to the milling facility
  • Embankments in TMF reduced from three to two
  • Waste rock storage facilities reduced from three to two


Summary of PEA Economic Model


The PEA, Pre-Tax and After-Tax project economic analysis (reflecting constant 2021 US dollars) of the Schaft Creek Project is based on payable metal and was prepared on a 100% basis using revenues and costs projected into the future on an annual basis and then discounted using mid year discounting at a rate of 8% per annum to yield the NPV and IRR. Net Smelter Return, Capital, Operating and Sustaining Costs, Closure Costs, Net Proceeds Interests payments, BC Mineral Tax, and Federal and Provincial income taxes are included in the financial analysis. Metal prices are based on Long Term consensus metal prices (Energy and Metals Consensus Forecast, inflation adjusted pricing dated June 2021). Notes to accompany the tables are included at the end of this news release.


The Operational Summary for the PEA, is set out below:


Category Unit Total (1) Annual Average (2)

2 to 6

First 10 years LOM Years

2 to 6

First 10 years LOM
Total Material Moved Mt 546.3 1,236.4 2,073.6 109.3 123.6 98.7
Total Material Processed Mt 243.0 469.0 1,030.2 48.6 46.9 49.1
Head grade – copper % 0.288 0.281 0.265 0.288 0.281 0.265
Head grade – gold g/t 0.203 0.187 0.157 0.203 0.187 0.157
Head grade – silver % 1.225 1.202 1.229 1.225 1.202 1.229
Head grade – molybdenum g/t 0.014 0.015 0.017 0.014 0.015 0.017
Copper Mlbs 1,290.3 2,429.4 4,994.6 258.1 242.9 237.8
Gold kozs 1,162.5 2,045.7 3,695.0 232.5 204.6 176.0
Silver kozs 3,848.8 7,208.6 16,412.5 769.8 720.9 781.5
Molybdenum klbs 45,459 89,838 226,457 9,092 8,984 10,784
Copper equivalent (3) Mlbs 1,990.5 3,694.3 7,497.8 398.1 369.4 357.0
Financial Summary
Revenue (net of TCRC) $USM 5,867.4 10,867.4 21,959.1 1,173.5 1,086.7 1045.7
Site Operating costs $USM (2,092.5) (4,337.8) (8,921.5) (418.5) (433.8) (424.8)
Concentrate transportation costs $USM (181.4) (342.1) (709.4) (36.3) (34.2) (33.8)
NPI & Other Offisite Costs $USM (45.3) (200.4) (593.1) (9.1) (20.0) (28.2)
EBITDA(6) $USM 3,477.1 5,813.5 10,812.9 695.4 581.3 514.9
Free Cash Flow (including Initial Capex) $USM 747.4 2,578 7,376 124.6 257.8 351.2
Free Cash Flow (excluding Initial Capex) (1) $USM 3,167 5,231 9,964 633.4 523.1 474.5
Cash Costs (4)
Before by-product credits $US/lb.Cu (2.17) (2.40) (2.56) (2.17) (2.40) (2.56)
After by-product credits $US/lb.Cu (0.46) (0.77) (1.00) (0.46) (0.77) (1.00)
All-in sustaining costs $US/lb.Cu (0.72) (1.00) (1.18) (0.72) (1.00) (1.18)
Capital Costs
Initial Capital (direct, indirect, contingency) $USM (2,653.2)
Sustaining Costs $USM (334.4) (541.8) (848.7) (66.9) (54.2) (40.4)
Closure costs $USM included in sustaining capex
Economic Summary
Net Present Value (8%) $USM 1,383.5
Internal Rate of Return % 15.2
Payback Pre-Tax (5) years 4.4
Net Present Value (8%) $USM 842.1
Internal Rate of Return % 12.9
Payback Post-Tax (5) years 4.8


Revenue split by commodity is copper (66.6%), gold (22.7%), molybdenum (9.3%) and silver (1.3%).


The PEA After-Tax Annual and Cumulative FCFs, EBITDA and Capital Cost Expenditure are shown below:


Schaft Creek Financial Summary Chart

The sensitivity and incremental percentage change (8% discount rate) of the EBITDA, Free Cash Flow and NPV based on incremental changes in metal prices, FOREX (CADUSD), Operating costs, and Initial Capital costs on after-tax basis are shown below:


Schaft Creek Sensitivities

Note: Green represents an increase in the input variable; grey represents a decrease. Base Case=The economic analysis in this news release.
Note: Images in this news release can be seen on the PDF version of the news release located on SEDAR and our website


After-Tax Schaft Creek Project Economics


The After-tax NPV and IRR, after applicable Federal and Provincial tax are deducted, are US$842.1 million and 12.9%. Payback of initial capital is achieved in 4.8 years from commencement of operations. The BC Mineral Tax (Provincial Resource Tax) is deductible from Federal and Provincial taxes payable. Federal, Provincial and BC Mineral Tax payable based on the PEA financial model are outlined below:



Estimated Taxes Payable
Tax Component LOM Amount (C$M)
Corporate Tax (Federal) 1,432
Corporate Tax (Provincial) 1,145
BC Mineral Tax 1,198
Total Taxes 3,775



Capital Cost Estimates


The major items of the initial capital cost estimate (accuracy of +/- 30%), as of Q4 2020 which covers direct field costs, indirect costs associated with design, construction, and commissioning with no allowances for inflation or escalation, are outlined below. The estimates are consistent with a Class 5 estimate. Capital intensity (excluding contingency) is estimated to be approximately C$20,200 (US$15,500) per operating tonne and C$17,200 (US$13,200) per operating tonne of payable CuEq(3) production. (Note: CuEq is estimated using accepted metallurgical recovery for each metal and the metal price assumptions used in this PEA).



Initial Capital Costs
Direct Costs
Overall site 178.3 137.3
Mining 245.2 188.8
Primary Crushing 65.3 50.3
Stockpile & Reclaim 54.3 41.8
Grinding, Flotation and Regrind 649.4 500.0
Tailing Management Facility (TMF) 178.2 137.2
Site Services and Site Utilities 38.3 29.5
Ancillary Buildings 153.0 117.8
Plant Mobile Fleet 8.8 6.8
Temporary Services 5.6 4.3
Off-site Infrastructure and Facilities 106.8 82.2
Total Direct Costs $1,683.2 $1,296.1
Indirect Costs 1,001.3 771.0
Total Indirect Costs $1,001.3 $771.0
Total Direct and Indirect Costs $2,684.5 $2,067.1
Contingency (@25.0%) + provisions 761.2 586.1
Total Initial Capital $3,447.3 $2,653.2



Sustaining Costs


The main components of the LOM sustaining capital are set out below:



LOM Sustaining Capital
Area US$M
Mining 335.15
Tailings 239.96
Process/Infrastructure 48.46
Environmental Monitoring 40.39
BC Hydro 30.77
Closure 154.0
Total Sustaining Capital 848.73



Operating Costs


The LOM site unit operating cash costs per tonne processed are set out below:



LOM Processing Costs
Area US$/t processed
Mining 3.11
Processing 4.08
G&A 0.79
Surface Services 0.25
Tailings Management 0.11
Concentrate Transportation 0.32
Total 8.66


Note: Mining includes the cost of mining waste and processed material. The LOM average strip ratio is estimated to be 1:1.


PEA Project Description Update


Social and Environment


Copper Fox completed environmental baseline work on the Schaft Creek project between 2006 and 2013. Since 2013 additional environmental baseline work has been carried out by the Schaft Creek JV. Copper Fox is committed to working with its JV partner to develop and operate the Schaft Creek Project in a safe, ethically and socially responsible manner while maximizing benefits and economic opportunities for local First Nations and other communities, including employment, training, and using local service providers.


A review of the current Provincial and Federal environmental regulations indicates that the PEA project design should not present any issues pursuant to Provincial and Federal requirements in the Environmental Assessment process.


Reclamation plans for the TMF, open pit and waste rock are set out in the PEA. These plans will be considered and updated throughout design, construction, and operation of the Schaft Creek Project to help ensure that these objectives can be achieved.


Updated Mineral Resource Estimate


The Updated Mineral Resource Estimate for the Schaft Creek Project was announced on March 22, 2021. Approximately 80% of the mineral resources in the Schaft Creek deposit are classified as Measured and Indicated.




Mining of the Schaft Creek deposit is planned as a conventional truck-shovel open-pit mining operation. Total mine production is estimated to be 1.03 Bt of mill feed and 1.03 Bt of waste rock resulting in a LOM 1:1 strip ratio. Annual mined tonnes range from 46.9 to 165.0 Mt, averaging 98.7 Mt LOM. The 21-year mine plan utilizes approximately 60% of the mineral resource base and provides options to extend mine life and/or increases in throughput.


Mining operation will commence in an area of higher-grade material for processing in years 1-5 of milling operations before transitioning to the south end of the Liard zone. The push back to the north results in increased annual tonnes of waste mined to provide access to mineralization mined in the next phase of the mine plan. The final phase extends to the ultimate pit bottom which based on the resource block model would end in mineralization. The mine plan includes a stockpiling strategy to ensure optimal LOM mill feed grade. Run-of-mine ore would be delivered to a gyratory crusher at the edge of the pit and transported via conveyor to a coarse ore stockpile near the mill site.


Waste material will be used for road, TMF and infrastructure construction with the balance stored in two separate areas located at varying distances from the proposed open pit.


Process Plant


The processing plant is designed with a planned nominal throughput of 133,000 tpd (at 92% capacity). The annual throughput varies from 48.5 Mt to 51.5 Mt per year averaging 49.1 Mt per year, primarily due to the comminution characteristics of the mineralization.


The milling process is a conventional grinding and flotation circuit, consisting of two process trains to produce a high-quality copper concentrate with significant gold and silver by-product credits and a separate molybdenum concentrate. Each of the process trains consists of SAG mill – ball mills – pebble crushers primary grinding, bulk rougher/scavenger flotation, bulk concentrate regrinding and cleaner flotation circuits. The bulk concentrate produced will be separated to produce market grade copper-gold-silver concentrate and molybdenum concentrate. LOM metal recoveries to copper concentrate containing 28% copper are expected to be 83.1% for copper, 71.0% for gold and 40.3% for silver. The molybdenum recovery to the molybdenum concentrate (containing >50% Molybdenum) is estimated to be 60.1%. Tailings would be transported to the TMF through pipelines.


Forecasted Metal Production


The Schaft Creek copper deposit contains low, but significant gold, molybdenum and silver concentrations. By-product metal credits account for approximately 33% of the CuEq production attributable to the Schaft Creek Project. Metal production is highest in the first five years of full production primarily due to mining of higher-grade mineralization. In the first five years of full production, the average recoverable CuEq production is estimated to be approximately 398.1 million lbs. (180.6 Kt).


LOM, the copper concentrate is expected to contain on average 28% copper, 14.1 grams per tonne gold and 63.0 g/t silver with a moisture content of 9% and the molybdenum concentrate is expected to average 50% molybdenum with a moisture content of 5%. The Schaft Creek copper concentrate as modeled is considered a premium copper concentrate in terms of copper grade, gold-silver by-products and low deleterious element content. The estimated LOM metal and “dry” copper and molybdenum concentrate production is summarized below.



Concentrate Metal Production
Description Unit Years 2-6(1)

Annual Average

Year 1-10
Annual Average
Annual Average
Copper Concentrate tonnes (000’s) 418 393 385 8,091
Copper in Concentrate Mlbs 258 243 238 4,995
Copper in Concentrate tonnes (000’s) 117 110 108 2,266
Gold in Concentrate oz. (000’s) 233 205 176 3,695
Silver in Concentrate oz. (000’s) 770 721 782 16,413
Molybdenum concentrate tonnes 8,248 8,150 9,783 205,439
Molybdenum in Concentrate lbs. (000’s) 9,092 8,984 10,784 226,457


Note: (1) Based on first five years of full production. Year 1 is partial year of production and not included. Numbers are rounded.


The most cost and time-efficient way to ship copper concentrate from Schaft Creek to the Asian markets would be trucking the concentrate via Highway 37 to the deep-water port in Stewart, BC, then transported via ocean-going vessels. Molybdenum concentrate will be bagged, sealed, placed in standard cargo containers, and trucked to the port facility in Prince Rupert, BC, for shipment.


Tailings Management Facility


The TMF has been designed based on the most recent guidance on construction and operation of tailing impoundment facilities. The initial design capacity of the TMF is approximately 1.0 Bt, sufficient for the 21-year mine life. The capacity of the TMF can be expanded significantly with minimal modification to the overall TMF footprint to accommodate up to approximately 2.0 Bt of tailings. The south end of the TMF is located approximately 1.8km northeast of the milling facilities.




The closest provincial road to the Schaft Creek Project is Highway 37. Power would be provided from the Northwest Transmission Line, located on Highway 37, owned by BC Hydro, the provincial electrical authority. The locations of project facilities and other infrastructure items were selected to take advantage of local topography, accommodate environmental considerations, and for efficient, safe and convenient operation of the mine.


The required Project Infrastructure includes:


  • Construction of the More Creek Canyon bridge
  • An access and road use agreement for use of an existing road alignment that goes 65.2 km from Highway 37 to the Mess Creek Valley. This agreement would have to be acceptable to existing road users, the BC Government and the Tahltan for use of a secure, single-lane access road with select double-lane sections
  • Construction of new road for approximately 40 km up the Mess Creek valley to the project site
  • An 81-km-long, 287 kV power line from BC Hydro’s Bob Quinn station and a site power distribution network
  • TMF with diversion channels including a reclaim water system and process and ancillary facilities
  • Site haul roads
  • Water supply and distribution system, sewage disposal plant, communications infrastructure
  • Upgrade to the Bob Quinn Airport to receive aircraft with a capacity of up to 78 passengers




The Schaft Creek Project is operating under a five-year Multi-Year Area Based permit for exploration related activities. The MYAB was granted in 2018 and expires in 2023. To obtain an Environmental Assessment Certificate and Federal approval, a Province of British Columbia Environmental Assessment Application and a Federal Environmental Impact Statement would be required. Access road and other permits would be prioritized based on the development schedule presented in the PEA.


Development Schedule


Permitting, detailed engineering, equipment procurement, construction, and startup to full production, based on the PEA, is estimated to take five-years. The main stages of development include access, site preparation, construction of the TMF, process facilities and infrastructure followed by commissioning. This timeline may be modified due to the significant improvements to infrastructure in the region that has taken place since the completion of the 2013 Feasibility Study, e.g., upgrades to Highway 37 and completion of the Northwest Transmission Line.


PEA Recommendations


Recommended Program


The PEA describes a recommended work program for the Schaft Creek Project that contemplates a C$23.2M budget as part of a potential Pre-Feasibility Study. Activities include geological and geotechnical drilling, metallurgical testwork, and additional environmental and infrastructure studies to complete the PFS. The recommended budget includes contingencies, preparation of the PFS and direct costs related to completion of the recommended program.


Exploration Potential


The exploration potential of the Schaft Creek project is described in detail in the Technical Report entitled “Mineral Resource Estimate Update for the Schaft Creek Property, British Columbia, Canada”, prepared by Tetra Tech Canada Inc. with an effective date of January 15, 2021. The mineralization in the Schaft Creek deposit is open in several directions and additional drilling is required to test the extension of the mineralization in these directions.


The Schaft Creek Project covers a 12km-long mineralized trend that hosts the Discovery and LaCasse zones located between 1.5 to 3.0km north of the Schaft Creek deposit. Limited diamond drilling intersected significant intervals of porphyry style Cu-Mo-Au-Ag mineralization that is open in several directions. Several copper showings have been found north of the Discovery/LaCasse area and south of the Schaft Creek deposit. The exploration potential of the 12km-long trend is considered significant with potential to host additional porphyry style copper mineralization.


Schaft Creek Project Enhancements


The PEA identified opportunities that could enhance the investment opportunity of the Schaft Creek Project including:

  • Additional metallurgical testwork to increase metal recoveries and reduce processing costs
  • Geotechnical drilling to potentially reduce the LOM strip ratio
  • Infill drilling to increase confidence in the resource model, extend the limits of the mineralization and upgrade the Mineral Resources to a higher Mineral Resource category
  • Pursue opportunities to reduce the project development execution timeline from the current 5 years


Schaft Creek Joint Venture


The Schaft Creek JV was formed on July 15, 2013, to manage the exploration and development of the Schaft Creek Project. The Schaft Creek JV is owned 75% by Teck and 25% by Copper Fox. The mineral claims that comprise the Schaft Creek Project are held 100% by the Schaft Creek JV. The Schaft Creek JV has an obligation to Liard Copper Mines Ltd. in the form of a 30% Net Proceeds Interest in the Schaft Creek Project. Liard, the holder of the Indirect Interest, is owned 85.5% by the Schaft Creek JV, 1.55% by Copper Fox, with the remaining 12.95% held by third parties.


The Schaft Creek JV has the following key terms:


  • Teck will pay a total of C$60 million in three direct cash payments to Copper Fox: C$20 million upon signing the JV agreement (received), C$20 million upon a production decision, and C$20 million upon the completion of the mine facility
  • Teck will fund 100% of costs incurred prior to a production decision, up to C$60 million; Copper Fox’s pro rata share of any pre-production costs in excess of C$60 million will be funded by Teck and the two remaining direct cash payments payable to Copper Fox will be reduced by an amount equal to Copper Fox’s pro rata share of any pre-production costs in excess of the initial C$60 million, to a maximum of total pre-production costs of C$220 million
  • Teck will fund any additional costs (in excess of C$220 million) incurred prior to a production decision, if required, by way of loan (at an interest rate of prime + 2%) to Copper Fox to the extent of its pro rata share, without dilution to Copper Fox’s 25% JV interest
  • Management of the Schaft Creek JV is made up of two representatives from each of Teck and Copper Fox with voting proportional to equity interests
  • Teck agreed to use all reasonable commercial efforts to arrange project debt financing for not less than 60% of project capital costs of constructing a mining operation. If a production decision is made, Teck will fund Copper Fox’s pro rata share of project capital costs by way of loans (at an interest rate of prime + 2%), if requested by Copper Fox, without dilution to Copper Fox’s 25% JV interest


Net Proceeds Interests & Royalties


The Schaft Creek Project is subject to two separate Net Proceeds Interest payments. Royal Gold holds a 3.5% Net Proceeds Interest on certain mineral claims within the resource area. Based on the PEA, the NPI payments to Royal Gold are estimated to be US$258.5 million LOM.


The Schaft Creek JV has an obligation to Liard in the form of a 30% Net Proceeds Interest in certain mineral claims within the Schaft Creek Project. Liard is owned 85.5% by the Schaft Creek JV, 1.55% by Copper Fox, with the remaining 12.95% held by third parties. Based on the PEA, the LOM NPI payments to Copper Fox stemming from this Indirect Interest is US$35.8 million and US$298.9 to the other Liard minority interests.


Certain mineral claims located outside the mineral resource area of the Schaft Creek Project are subject to a 2% Net Smelter Return Royalty, one-half of which can be purchased for between C$1.0 to C$1.5 million.


Areas of Interest


The Teck/Copper Fox Area of Interest is a 2km zone around the original 2002 tenure holding. Any ground acquired by either party within this zone is added to the Schaft Creek JV, unless the ground was previously held and relinquished by either party.


Qualified Persons


Copper Fox commissioned Tetra Tech to complete a PEA on the Schaft Creek Project in accordance with National Instrument 43-101 Standards for Disclosure for Mineral Projects. Tetra Tech, Red Pennant Communications, Greenwood Environmental Inc., McElhanney Consulting Services Ltd. and Knight Piésold Ltd. prepared and reviewed this PEA.


The scientific and technical information in this release have been reviewed by Hassan Ghaffari, P.Eng, of Tetra Tech, the overall manager for the PEA.


Other qualified persons involved in the PEA were: Tetra Tech: John Huang, Ph.D., P.Eng., Sabry Abdel Hafez, Ph.D., P.Eng.; Red Pennant: Michael F. O’Brien, P.Geo.; KP: Daniel Friedman, P.Eng.; McElhanney: Brendon Masson, P. Eng.


Elmer B. Stewart, MSc. P. Geol., President and CEO of Copper Fox, is the Company’s non-independent, nominated Qualified Person pursuant to NI 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.


The Preliminary Economic Assessment Technical Report will be filed in accordance with NI 43-101 on SEDAR ( within the required 45 day statutory period and will be made available on Copper Fox’s website at


About Copper Fox


Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange 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 the 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona.


Posted September 20, 2021

Share this news article


Equity Reports Additional High-Grade Mineralization at the Camp and Sveinson Targets, Silver Queen Project, BC; Drilling Resumes

Equity Metals Corporation (TSX-V: EQTY) reports thick intercepts ... READ MORE

May 18, 2022

Freegold Intersects 2.49 g/t Au over 167.7m and 0.94g/t Au over 617 m at Golden Summit

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) is pleased to... READ MORE

May 18, 2022

Sitka Intercepts 107.5 Metres of 1.44 g/t Gold From Surface Including 2.0 Metres of 35.60 g/t Gold at its RC Gold Project in Yukon

Sitka Gold Corp. (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased... READ MORE

May 18, 2022

Appia Announces Operational And Drilling Update With New Intersections Of 50+ Metres Of Anomalous Radioactivity At Alces Lake Rare Earth Property, Northern Saskatchewan

Appia Rare Earths & Uranium Corp. (CSE:API) (OTCQB:APAAF) (Ge... READ MORE

May 18, 2022


Starr Peak Mining Ltd.  (TSX-V: STE) (OTCQX: STRPF) is pleased ... READ MORE

May 18, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News