Copper Fox Metals Inc (TSX-V:CUU, OTCQX:CPFXF), through its wholly-owned subsidiary Northern Fox Copper Inc, has updated on its 100%-owned Eaglehead polymetallic porphyry copper project east of Dease Lake in British Columbia.
The company said the permit required to conduct its proposed 2022 drilling program remains pending, adding that a site visit, necessary for the permitting process, was completed in early July and the company continues to contact the relevant authority to determine the status of the permit.
"The delay in receipt of the permit to conduct the drilling program is becoming critical to the completion of the proposed 4-5-week drilling program due to the rapidly approaching end of the summer season,” Elmer B. Stewart, president and CEO of Copper Fox said in a statement.
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“The work related to updating the geological model continues to locate additional drill holes with unsampled mineralized intervals (chalcopyrite with minor bornite and molybdenum) indicating the mineralized envelopes in the Bornite and East zones could be larger than initially modelled," he added.
The proposed drilling will test the 500-meter-long interval between the Bornite and East zones to test the continuity of the mineralization. The company noted that the Eaglehead project covers 16,492.62 hectares of the Lower Jurassic age Eaglehead stock. Fieldwork commenced in mid-June 2022.
A summary of activities completed in anticipation of receipt of the permit to conduct drilling operations are as follows:
- Approval for the Notice of Work (NoW) to conduct the proposed drilling program is still pending.
- Ongoing review of historical drill cores has located additional un-sampled, mineralized (chalcopyrite +/-bornite) intervals. Sampling of these intervals is in progress.
- The final report on the findings of the 2022 Archaeological survey is pending.
- The water quality surveys completed in 2022 show no appreciable changes in water quality.
- Field investigation of the four previously identified targets resulted in two targets for future exploration.
Copper Fox said the preliminary results of the archeological review of the proposed access route and drill hole location did not locate artifacts of a historical or cultural nature. The final report on the archeological review is pending. Meanwhile, analytical results of the stream water monitoring program have yielded no appreciable changes in water quality since the start of the 2022 program.
Copper Fox is a Tier 1 Canadian resource company focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly-owned Canadian and US subsidiaries, are the 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona and 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.
Contact the author at jon.hopkins@proactiveinvestors.com