20 2 2 . Coppe r Fox Metals Inc. ( “Copper Fox” or the “Company”)
Calgary, Alberta
–
January
20
,
20
2
2
.
Coppe
r
Fox Metals Inc.
(
“Copper Fox” or the “Company”) (
TSX
-
V:
CUU
–
OTC
QX
:
CPFXF
)
through its wholly owned subsidiary Northern Fox Copper Inc.
is pleased to
provide
an
update
on
the
geophysical modelling
on
its 100% owned
Eaglehead
polymetallic
porphyry
copper
project located
approximately 50
kilometers
(‘
km’)
east of Dease
L
ake,
British Columbi
a.
The
Eaglehead project
covers a large
portion
(15,956 ha)
of the late Jurassic age
,
Eaglehead stock
located at the southern margin of the Quesnel terrane.
The
Quesnel
t
errane
hosts
several
porphyry copper
deposits including
Lorraine, Mt.
Milligan,
and M
ount
Polly
to
the south
.
Geological Model
The historical
drilling intersected
six
, open ended
zones of
near surface
,
intrusion hosted
polymetallic
porphyry
style
mineralization
.
Modelling (3D)
of the mineralization
in the Bornite and East zones
and the three
distinct,
overlapping episodes of copper mineralization
suggests
that
the drilling
intersected
the very upper level of an
evolving
porphyry
system
.
T
he
MVI
study
,
and
trace element ratios (fertility
indices)
indicate late
-
stage
,
intrusive/
hydrothermal activity
at depth
,
the upper levels of which
are represented by the
near surface zone
s
of
porphyry
mineralization.
The
spatial association
of
the copper
mineralization and
interpreted buried
intrusives
suggests the
Thibert Fault
exerted
significant
control
on
the
emplacement of the
late stage
intrusives and
porphyry mineralization.
Th
e
model provides an explanation
for
the
MVI study results, area/zones of
mineralization
and
distribution of
Cu
-
Mo in soil anomalies
in relation
to the intrusive plugs and
structures.
The
data
suggest
that the main portion
of the porphyry
system could be
to the north and at depth below the
surface
mineralization
, s
ee Figure 1.
PORPHYRY TARGETS
AT
EAGLEHEAD
COPPER FOX
IDENTIFIES ADDITIONAL
identified priority
areas in which to focus
future exploration.
and
Cu-Mo
in
soil
geochemical
anomalies.
The
MVI study
also
identified
two
previously unknown
targets
and
proximity
to
the Thibert
Fault
and
show a very strong correlation
with
all known
areas of copper
mineralization
These late-
stage intrusives
are located at depth
below
the surface
zones of mineralization
distributed along or in
trend
with
four
late-stage
intrusive plugs
exhibiting
the magnetic
characteristics
of a
porphyry
copper system.
Elmer B. Stewart, President and CEO of Copper Fox, stated, “
The
MVI
study has identified
a
10km
long
linear
the near
surface mineralized
zones.
•
The
compilation indicates
the main portion of the porphyry
could
be to
the north and at depth below
areas
of
copper
mineralization and
copper-molybdenum
(‘Cu
-
Mo’)
in soil geochemical anomalies.
•
The four interpreted intrusives
located along the
Thibert Fault
exhibit a strong
positive correlation to
known
system.
•
Four
of the
interpreted
late-stage
intrusive
plugs
exhibit a strong
spatial
correlation to the Thibert
Fault
potassic (magnetite)
alteration.
•
The MVI
analyses
identified
five
areas,
interpreted
to
represent
late-stage intrusive
plugs
with associated
Highlights
biotite)
altered zones
associated with
porphyry systems.
magnetite
bearing,
high
temperature
hydrothermal
centres
indicative
of
potassic
(K-spar-magnetite-secondary
radiometric data collected in 2014.
Magnetization Vector
Inversion
is
an exploration
technique used
to
locate
data resulted in completion of a
Magnetization Vector Inversion
(MVI)
analyses of the airborne magnetic and
In preparation for a 2022 field season, compilation and re-interpretation
of current and historical exploration
2
Figure 1. MVI signature at 600 m depth with soil geochemistry, mineralization, and structures. Scale is 1:50,000.
MVI Study
The MVI analysis was completed using Geosoft's VOXI Magnetic Vector Inversion software. Multiple inversions
were carried out to find a model that fit the observed data within the allocated noise threshold while not adding
unnecessary features to the model. The final model was generated by applying the VOXI IRI focussing method to
recover a sharper model. Horizontal slices ranging from 200 to 600 meters below surface were generated during
the modelling, the 600-depth slice was used for the current interpretation. Highlights of the study are listed below:
1. Five positive magnetic signatures were identified.
2. The magnetic signatures are interpreted to represent potassic (magnetite) alteration associated with late-
stage intrusive plugs within the Eaglehead intrusive.
3. The plugs are located at depth below the Bornite-East zone, West-Camp zone, between the East zone and
the Far East zone, on the west side of the Thibert Fault and to the north of the mineralized area.
4. Four of the five intrusive plugs exhibit a strong spatial association with the Thibert Fault system.
5. The shape of the magnetic signature on the west side of the Thibert Fault suggests that the Thibert Fault
offset the mineralization in the Bornite and East zones potentially up to 1km to the east. The MVI
anomaly on the west side of the Thibert Fault has not been tested by drilling.
6. A large, NNW trending arcuate shaped area of positive magnetization extends north of the Camp-Pass
zones crosscutting the regional trend of the Eaglehead intrusive. The cause of this feature is unknown and
will be fact checked during the 2022 field program.
3
Qualified Person
Elmer B. Stewart, MSc. P. Geol., President and CEO of Copper Fox, is the Company’s non-independent, nominated
Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, has
reviewed the scientific and technical information disclosed in this news release.
About Copper Fox
Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange focused on copper
exploration and development in Canada and the United States. The principal asse ts of Copper Fox and its wholly
owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are
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 and the 100% ownership of the Van Dyke
oxide copper project located in Miami, Arizona. For more information on Copper Fox’s other mineral properties
and investments visit the Company’s website at http://www.copperfoxmetals.com.
For additional information contact: Investor line 1-844-464-2820 or Lynn Ball, at 1-403-264-2820.
On behalf of the Board of Directors
Elmer B. Stewart
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the Canadian securities laws. Forward-looking information
is generally identifiable by use of the words “believes,” “may,” “plans,” “will,” “anticipates,” “intends,” “budg ets”, “could”, “estimates”,
“expects”, “forecasts”, “projects” and similar expressions, and the negative of such expressions. Forward-looking information in this news
release include statements about: the results of an MVI study; a large, arcuate magnetic signature; interpreted deeply buried intrusives; strong
spatial correlation of the interpreted intrusives to the Thibert Fault system; the main portion of the porphyry i s to the north and at dept h;
and fertility indices.
In connection with the forward -looking information contained in this news release, Copper Fox and its subsidiaries have made numerous
assumptions regarding, among other things: the geological, metallurgical, engineering, financial and economic advice that Copper Fox has
received is reliable and is based upon practices and methodologies which are consistent with industry standards; the speed of field studies
and the stability of economic and market conditions. While Copper Fox considers these assumptions to be reasonable, these assumptions are
inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause Copper Fox’s actual results, performance, or achievements to be
materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained
herein. Known risk factors include among others: the results of an MVI study may not be accurate; the arcuate magnetic signature may not
represent deeply buried intrusives; the strong spatial correlation of the interpreted intrusives to the Thibert Fault system areas of copper
mineralization and soil geochemical anomalies may not be representative of an actual geological setting; comments on the location and depth
of the main portion of the porphyry may not be accurate ; the fertility indices may not be related to a magmatic system; uncertainties
relating to interpretation of the previous results; the overall economy may deteriorate; uncertainty as to the availability and terms of future
financing; fluctuations in commodity prices and demand; currency exchange rates; and uncertainty as to timely availability of permits and
other governmental approvals.
A more complete discussion of the risks and uncertainties facing Copper Fox is disclosed in Copper Fox's continuous disclosure filings with
Canadian securities regulatory authorities at www.sedar.com. All forward -looking information herein is qualified in its entirety by this
cautionary statement, and Copper Fox disclaims any obligation to revise or update any such forward -looking information or to publicly
announce the result of any revisions to any of the forward -looking information contained herein to reflect future results, events, or
developments, except as required by law.