Copper Fox Metals Inc (TSX-V:CUU, OTCQX:CPFXF) has updated investors on its Schaft Creek joint venture (SCJV) in British Columbia, where drilling for this year's planned 5,000 metre (m) program has kicked off.
Mining major Teck Resources Ltd Is the operator of the copper-gold-molybdenum-silver venture and holds a 75% stake in the property, while Copper Fox has the remaining 25%.
"We are pleased to see the 2022 field program getting underway at Schaft Creek," said Elmer B. Stewart, the CEO of Copper Fox, in a statement.
"In addition to the field program, the SCJV is advancing several desktop initiatives, including investigating the potential to reduce the construction timeline. The results of the 2022 activities will strengthen project base case metallurgical predictions and guide the potential 2023 geotechnical program, increase density and type of environmental baseline data to better reflect current project configuration and regulatory requirements," he added.
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"The results of the 2022 program will also better inform consultations with the Tahltan Nation on advancing the Schaft Creek project," Steware concluded.
Two diamond rigs have been secured to complete the drilling, which is expected to comprise around ten holes and focus on collecting samples to complement historical metallurgical test work within the West Breccia, Liard and Paramount mineralized zones.
In addition, geotechnical data gap analysis has been completed and will inform the scope of the 2023 drill program designed to identify opportunities to further decrease the life of mine (LOM) strip ratio and strengthen the base case pit slope design criteria. Environmental baseline data collection activities are also underway, the company noted.
Copper Fox is focused on copper exploration and development in Canada and the USA. The main assets of the company and its wholly owned Canadian and United States subsidiaries are the 25% interest in the Schaft Creek joint venture with Teck on the Schaft Creek asset in northwestern British Columbia and the 100% ownership of the Van Dyke oxide copper project in Miami, Arizona.
Contact the author at giles@proactiveinvestors.com