Copper Fox Metals Inc. ( TSXV: CUU,OTC:CPFXF ) (OTCQX: CPFXF) (FSE: HPU) (“Copper Fox” or the “Company”), through its wholly owned subsidiary Desert Fox Van Dyke Co., is pleased to provide a progress report on completion of the updated Preliminary Economic Assessment (PEA) on its 100% owned Van Dyke in-situ copper recovery (ISCR) project. Copper Fox is focused on leveraging existing infrastructure and community support with a more environmentally friendly approach to advance the past-producing Van Dyke copper mine to the Prefeasibility Study (PFS) stage with the objective of re-starting copper production from this historic mine in the Globe-Miami Mining District, Gila County, Arizona.
Highlights
- Several key study components substantially defined
- The project plan uses a two-phase underground development approach
- Approximately 4,900 metres (m) of underground development
- Roadheader for excavation is expected to improve safety and ground stability
- The leach schedule prioritizes higher-grade panels early
- Surface infrastructure location established
- Groundwater flow model completed, additional modelling in progress
- Progressing acquisition of permanent office, core storage, and sampling facility
Elmer B. Stewart, President and CEO of Copper Fox, stated, “Completion of these front-end activities enables the PEA team to move toward finalizing key operating and cost components for the updated PEA. Trade-off studies focused on improving operational efficiency have been completed for each phase of the project and are being used to optimize the projected pre- and post-tax economic models using updated copper prices.”
Overview
The technical studies completed since 2021 resulted in several significant changes to the planned development of the Van Dyke deposit including mechanical (roadheader) excavation of the underground workings. The updated general layout for the portal, decline drifts, vent raise and site infrastructure phases for the Van Dyke project are shown in Figure-1.
