Copper Fox Metals Inc (TSX-V:CUU, OTCQX:CPFXF) CEO Elmer B Stewart told shareholders that the company's emphasis in 2023 would be to advance the Schaft Creek copper-gold-molybdenum-silver project in northwestern British Columbia by augmenting the metallurgical, geotechnical, and environmental data.
The Schaft Creek project is managed through the Schaft Creek Joint Venture (SCJV). Teck Resources Limited, the operator of the SCJV, holds a 75% interest, with Copper Fox holding the remaining 25% interest.
"The emphasis in 2023 will be to advance the Schaft Creek project by augmenting the metallurgical, geotechnical, and environmental data while aligning these activities with the cultural and social traditions of the Tahltan Nation,” Stewart said in a statement.
READ: Copper Fox provides final analytical results for 2022 drilling program at Schaft Creek project
“These activities are focused on continuing the investigations and confirmations of value-add opportunities to allow potential initiation of a future Prefeasibility Study."
Copper Fox estimated the planned expenditure in 2023 to be around C$17.2 million and also offered a quick program summary focusing on key areas as follows:
Technical: A proposed 9,000-meter (m) drill program that focuses on geotechnical drilling (8,000m) and metallurgical/resource delineation (1,000m). The geotechnical drilling will ensure data is available to support an updated mine plan design with increased pit slope angles and a reduced strip ratio. The metallurgical and resource delineation drilling will be completed to update throughput and recoveries assumptions, with some drilling allocated to infill the resource model.
Social: Strengthen and fulfill the group’s commitments included in the Tahltan Nation Communications and Engagement agreement, while seeking greater collaboration with the Tahltan Nation on cultural initiatives.
Environment: In line with the project's revised configuration, timeline, and updated permitting regulatory requirements, planned work will consist of: the initiation of a two-year, monthly sampling, and environmental baseline field campaign; and further work on the site's original Archaeology Impact Assessment and cultural heritage in collaboration with the Tahltan Nation.
The environmental baseline field campaign will focus on collecting climatology, hydrology, water quality, glaciology, and flora-fauna data, including a winter ungulate management program, said the company.
Camp upgrades: This includes improvements to the kitchen facility, bunkhouses, existing fixed-wing runway, and other site infrastructure. The upgrades will allow for expanded future field programs and ensure the continued safety and efficiency of the proposed 2023 field program.
Copper Fox is a Tier 1 Canadian resource company focused on copper exploration and development in Canada and the United States.
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