Copper Fox trenches 33 m of 1,638 ppm Cu at Mineral Mtn

2018-04-30 07:59 ET - News Release

Mr. Elmer Stewart reports

COPPER FOX OUTLINES LEACH CAP AT MINERAL MOUNTAIN PROJECT

Copper Fox Metals Inc. has provided analytical results for eight of the resampled trenches on its 100-per-cent-owned Mineral Mountain copper project located near Florence, Ariz. (see news release dated Feb. 8, 2017). The balance of the trenching results will be announced on receipt thereof. Highlights from the sampling program are:

Highlights:

Trench D yielded a weighted average of 1,638 ppm (0.16%) copper (Cu) and 33 ppm molybdenum (Mo) over a continuous interval of 33m, including a 12m interval that contained 3,890 ppm (0.39%) Cu and 72 ppm Mo. This mineralized interval is open and suggests incomplete oxidization of the primary porphyry style mineralization. Five of eight trenches contain sample intervals ranging from 1.5 m to 3.0m in length that contained greater than 1,000 (0.10%) ppm Cu. Trench O contained two samples each 3.0m in length that contained greater than 100 (0.01%) ppm Mo. The variable copper concentrations along with sporadic significant concentrations of molybdenum indicate an incomplete oxidation process within the mineralized area defined in 2016. The analytical results, copper mineralogy and alteration suggests that the area of surface mineralization outlined in 2016 could be the end product of an oxidization process of a low pyrite content, chalcopyrite, bornite style of porphyry mineralization.

Elmer B. Stewart, President and CEO of Copper Fox, stated, "The data collected to date suggests that the mineralized area outlined in 2016 represents a "leach cap"; a feature typical of porphyry copper deposits in Arizona. Leach caps represent what remains on surface of porphyry style mineralization that has undergone oxidization, leaching and re-concentration at depth due to weathering processes. The variable grades of copper and molybdenum in the trench samples as well as significantly higher grade zones of mineralization suggest incomplete oxidization of a primary porphyry style mineralization."

Description of Mineralized Area:

The weathering processes that create leach caps can result in incomplete leaching of a primary porphyry mineralization thereby creating highly variable concentrations of copper and molybdenum as suggested by the recent trenching results. The outcrops and scree located within the 2016 mineralized zone contains abundant chalcocite (copper sulphide) chrysocolla (copper silicate) and trace amounts of covellite all products of oxidization/supergene processes. Gangue minerals are hematite and goethite after pyrite (forming box work texture) and minor jarosite.

Summary of 2018 Sampling Results:

The weighted average metal concentrations and interval of higher copper and molybdenum concentrations within each trench are outlined below:

 TrenchInterval (m)Cu (ppm)Mo (ppm)Au (ppb)Ag (ppm)Comments                                                       
A     93.00       114     1       5       0.4                                                                    
B     14.60       278     2       5       0.7     includes 2.10m sample containing 1,220 ppm Cu                  
C     12.00       947     23      7       0.8     includes 3.0m sample containing 2,740 ppm Cu and 81.3 ppm Mo   
D     33.00       1638    33      37      0.7     includes 12.0m interval containing 3,890 ppm Cu, 72 ppm Mo,    
                                                  60 ppb Au and 1.45 ppm Ag                                      
K     36.00       398     4       7       0.3     includes 3.0m sample containing 1,130 ppm Cu and               
                                                  1.5 m sample containing 1,440 ppm Cu                           
L     15.00       698     9       12      1.1                                                                    
M     24.00       609     21      10      1.9     includes 3.0m sample containing 1,110 ppm Cu and 104 ppm Mo and
                                                  3.0m sample containing 1,380 ppm Cu                            
O     21.00       407     34      5       0.5     includes 3.0m sample containing 104 ppm Mo and                 
                                                  3.0m sample containing 109 ppm Mo                              
Note: ppm = parts per million, ppb = parts per billion
 

The analytical results for Trench D (Laramide age granodiorite) consistently show higher concentrations of copper, molybdenum, gold and silver than the other trenches. This southern end of Trench D contains a 12m interval of significantly higher metal concentrations and remains open.

Metal Content by Lithology:

The trenches were excavated in Laramide age granodiorite (103 samples) and Pinal Schist (6 samples). The average metal concentration for the lithologies are show below:

 Lithology   Cu (ppm)Mo (ppm)Au (ppb)Ag (ppm)
Pinal Schist20      0.48    5       0.22    
Granodiorite566     14.3    10.3    1.03    

Analytical Statistics:

The range of metal concentration for the analytical results to date is set out below:

 Copper (ppm)Molybdenum (ppm)Gold (ppb)Silver (ppm)
MEDIAN 242.5       2.8             5         0.5         
AVERAGE548.4       13.7            9.9       1           
MIN    9.9         0.2             5.0       0.1         
MAX    7840.0      219.0           112.0     8.2         

The mineralized area outlined in 2016 exhibited a significant number of altered outcrops that exhibit a variety of mineralized veinlets containing chalcocite, chryscolla as well as minor covellite and chalcopyrite. The trenching work has demonstrated the continuity of the mineralization between the outcrop and that the higher copper and molybdenum concentrations occur in the Laramide granodiorite.

Sampling Procedures:

Trench sampling was completed by a two man team. Continuous sampling was completed either along the side of the trench or along the center line on the bottom of the trench. Samples were collected after the top layer of material was removed. The sample interval was maintained at a 3 meter except where sample breaks were necessary. Detailed mapping of lithology, alteration and vein assemblages was completed for all trenches. The samples were delivered by the consulting geologist 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. 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 1 field blank and 6 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 standards.

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.

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