Copper Fox Metals Inc (TSX-V:CUU, OTCQX:CPFXF), through its wholly-owned subsidiary Desert Fox Copper Inc, has announced plans to advance its Van Dyke copper project in Arizona towards the preliminary feasibility stage.
The company said its proposed 2022 program would have two phases, with the objective of establishing a broad network of hydrogeological monitoring and testing locations that would be used to collect hydrogeological and water quality data.
Phase I activities include archeological, cultural, and biological surveys, investigating the potential of rehabilitating existing drill holes to establish hydrogeological monitoring sites, and a comprehensive testing program on the rehabilitated drill holes, all at an estimated cost of US$240,000.
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Phase II activities include a drilling program to collect additional hydrogeological and other data to advance the project to the preliminary feasibility stage. Copper Fox said the costing of phase II activities would be completed prior to commencing this stage of the program.
Copper Fox CEO Elmer B Stewart said adopting a staged, multi-purpose approach was a capital-effective mechanism to advance the Van Dyke project to the preliminary feasibility stage.
“The phase I activities are designed to establish a base on which to advance the project to phase II which includes additional drilling designed to expand the hydrogeological monitoring system and collection of data related to resource expansion and/or upgrading and metallurgical and geotechnical aspects of the project,” he said.
“Copper Fox's activities are conducted on a transparent and inclusive basis in line with its ESG [environmental, social, and governance] policy guidelines."
Copper Fox Metals is a tier 1 Canadian resource company focused on copper exploration and development in Canada and the United States.
Contact the author Emily Jarvie at emily.jarvie@proactiveinvestors.com
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