Copper Fox Announces Results of Airborne Geophysical Survey ON Sombrero Butte Copper Project
COPPER FOX ANNOUNCES RESULTS OF AIRBORNE GEOPHYSICAL SURVEY ON
SOMBRERO BUTTE COPPER PROJECT
Calgary, Alberta– June 29, 2022. Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSXV:CUU –
OTCQX:CPFXF) and its owned subsidiary, Desert Fox Copper Inc. (“Desert Fox”), are pleased to announce
results of the high resolution airborne magnetic and radiometric survey on its 100% owned Sombrero Butte
copper project.
Sombrero Butte is a Laramide age, exploration stage, porphyry copper project located in the historic Bunker Hill
Mining District, approximately three kilometers (“kms”) south of the Copper Creek porphyry copper deposit.
Historical production from the project is reported to have occurred between 1903 and 1920 from mineralized
breccia pipes at the north end of the property with reports of “low-grade ore assaying 3-5% copper and higher-
grade mineralization from along open cuts and tunnels assaying 20-33% copper.”
The airborne survey mapped the geophysical characteristics related to the distribution and concentrations of
magnetic minerals and radioactive elements to provide a geophysical/geochemical framework to compliment the
lithology, structure, and alteration data for the project . The principal task of the 3D susceptibility modelling of
the magnetics data was to identify new areas of potential copper and gold mineralization. The highlights of the
survey and the 3D modelling are set out below:
Highlights:
• Two K/Th anomalies associated with a positive magnetic susceptibility body located in the footwall
of an interpreted west dipping normal fault system have been identified.
• These K/Th anomalies exhibit coincident:
a) N30W trending zones of copper (>500 parts per million (“ppm”) and molybdenum
(>20ppm) mineralization.
b) Mineralized breccia pipes.
c) Previously identified chargeability anomalies.
• The K/Th anomaly at the north end of the property crosses the property boundary to the north.
• On a regional scale, the geological features of the property hosting the Copper Creek porphyry
copper deposit are interpreted to extend to the southeast onto the Sombrero Butte project.
• The survey identified several interpreted west dipping interpreted normal faults underlying the
central and eastern portion of the property. The centrally located normal fault appears to be the
main control on the location of the interpreted porphyry system.
Elmer B. Stewart, President, and CEO of Copper Fox, stated, “The spatial correlation of the copper-molybdenum
mineralization, chargeability and K/Th anomalies, alteration zoning, mineralized breccia pipes to the magnetic
susceptibility body suggests a buried porphyry system located to the east of a N30W trending, west dipping
normal fault. The 2022 airborne survey increases our geological understanding and confidence in the porphyry
potential of the property. Compilation of all exploration data from the project is underway; the results of which
will be used to determine next steps to advance the project.”
Geological Model:
The Sombrero Butte project exhibits a central core of Laramide age Copper Creek granodiorite intruding early
Laramide age Glory Hole Volcanics and PreCambrian age Pinal Schist. The west and east sides of the property
are underlain by the younger Miocene age Galiuro Volcanics. The Glory Hole Volcanics and Copper Creek
granodiorite have been intruded by late-stage dikes of varying composition including gray porphyry and a
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significant number of mineralized breccia pipes possibly related to the underlying Copper Creek granodiorite and
interpreted porphyry system . On the west side of the property, a N30W trending Range Front Fault brings the
Copper Creek granodiorite and the Pinal Schist in contact with the Galiuro Volcanics.
Figure-1: Generalized geology map of the Sombrero Butte project within interpreted cross-section.
A A’
IP Line
K/Th anomaly
Cu -Mo
Chargeability
Galuro Volcanics
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Galuro Volcanics
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Laramide Andesite
3Laramide Granodiorite
2
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Magnetic Vectoring Inversion:
Magnetic Vector Inversion has identified a large , positive magnetic susceptibility anomaly measuring
approximately 3kms by 1.5kms in the central portion of the property. This magnetic susceptibility body crosses
the contacts of the Copper Creek granodiorite, Glory Hole Volca nics and the G aliuro Volcanic s. Magnetite
destruction within the Glory Hole Volcanics to a maximum depth of +/ - 400m below surface is evidenced by an
irregular magnetic susceptibility pattern, the N30W trending magnetic low s and mapping completed within this
area.
0 0.5 km
3D Magnetic
Susceptibility
Body
IP Line
HS Referenced
Chargeability
(20 mrad@-400m)
Breccia Pipes
Lithology Code
Figure-2: 3D model of magnetic susceptibility body with locations of chargeability anomalies and breccia
pipes.
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Radiometric Survey:
Rocks affected by potassic alteration associated with porphyry copper syste ms can be detected using airborne
radiometric surveys. The survey identified two, positive K/Th anomalies within the Glory Hole Volcanics that
exhibit a strong correlation to the magnetic susceptibility body. These anomalies exhibit a variable K/Th pattern
consistent with the potassic/ phyllic alteration mapped in outcrop and are coincident with previously outlined
positive chargeability anomalies. These anomalies are interpreted to represent potassium enrichment possibly
associated with a buried porphyry system.
The first K/Th anomaly is located within the large positive magnetic susceptibility body ; and exhibits a near
surface, strong chargeability signature , min eralized breccia pipes, and copper-molybdenum mineralization
associated with potassic and phyllic alteration. The interpreted plunge of the chargeability anomaly and position
of the positive magnetic susceptibility are consistent.
The second K/Th anomaly is located on the northwest flank of the positive magnetic sus ceptibility body; exhibits
a deep, positive chargeability signature, mineralized breccia pipes associated with a Laramide age gray porphyry
plug and copper-molybdenum mineralization. This anomaly crosses the project boundary to the north.
Copper-Molybdenum Mineralization:
The coincident K/Th and chargeability anomalies are characterized by large areas of copper -molybdenum
mineralization. In the northern portion of the property, previous sampling has outlined an area containing copper-
molybdenum mineralization measuring approximately 750m by 750 m associated with mineralized breccia pipes
and quartz-copper-molybdenum veinlets in outcrop. In the central portion of the property, previous sampling has
outlined an area with coincident copper mineralization over an area measuring approximately 2,200m long by
500m wide wit hin which molybdenum minerali zation over an area measuring approximately 1,400m long by
500m wide. A threshold of 500 ppm copper and 2 0 ppm for molybdenum were used to outline the mineralized
areas. Using a 200ppm copper and 10 ppm molybdenum threshold, significantly expands the dimensions of both
areas.
Mineralized Breccia Pipes:
Mineralized breccia pipes are generally interpreted as an indicator of a buried porphyry system. The breccia pipes
within the property occur within a N30W trend and exhibit a strong spatial association to the positive magnetic
susceptibility body identified by the Magnetic Inversion. These breccia pipes were the subject of the historical
mining activities within the property.
In the center of the property, mineralized breccia pipes and breccias characterized by dickite; a clay mineral
indicative of advanced argillic alteration occurs in the Copper Creek granodiorite and the overlying Glory Hole
Volcanics. Advanced argillic alteration occurs in other porphyry copper deposits in Arizona.
Structure:
The survey identified a strong N30W structural fabric underlying the project and two additional N30W trending
regional scale faults possibly related to the Range Front Fault located on the west side of the property.
Airborne Survey Specifications:
The Sombrero Butte survey block ( 222-line kms) was flown by Precision GeoSurveys Inc., located in
Langley British Columbia using an Airbus AS350 helicopter at 100m line spacing at a heading of 090°/270°.
Survey lines were flown at an elevation approximating 33m above ground surface. Tie lines were flown at
1000m spacing at a heading of 000°/180° . A Hemisphere R330 GPS and a Novatel GPS integrate d with the
AGIS navigation system provide accurate position control.
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A Scintrex CS -3 Survey Magnetometer was used to collect magnetic data and a Nuvia Dynamics Advanced
Gamma Ray Spectrometer was used to collect radiometric data. Changes in the Earth’s magnetic field over
time were measured and recorded by two stationary GEM GSM-19T proton precession magnetometers.
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, and has reviewed and approves 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 (TSX -V: CUU) focused
on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and
its wholly owned Canadian and United Sta tes 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 copperfoxmetals.com.
On behalf of the Board of Directors
Elmer B. Stewart
President and Chief Executive Officer
For additional information contact:
Lynn Ball (844) 484-2820 or (403) 264-2820, [email protected]
Neither the 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 statements within the meaning of the Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934, and forward- looking information within the meaning of the
Canadian securities laws (collectively, “forward-looking information”). Forward-looking information is identifiable by use of
the words “believes,” “may,” “plans,” “will,” “anticipates,” “intends,” “budgets ,” “could,” “estimates,” “expects,”
“forecasts”, “projects” and similar expressions, and the negative of such expressions. Forward-looking information in this
news release includes statements regarding; a positive magnetic susceptibility body ; two K/Th anomalies; a N30W structural
trend underlying the project ; coincident N30W trending zones of copper and molybdenum ; previously identified
chargeability signatures, correlation of the mineralized breccias to N30W trending structures; identifi cation of several new
faults and other structures.
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 advice that Copper Fox has received is reliable
and is based upon practices and methodologies which are consistent with industry standards; and the reliability of historical
reports. 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: th e interpreted magnetic
susceptibility body may not represent a buried felsic intrusive; the dimensions and shape of the mineralized areas may not be
as estimated; the surface mineralization may not represent buried porphyry style mineralization; uncertaint ies relating to
interpretation of the outcrop sampling results; the geology, continuity and concentration of the mineralization; the financia l
markets and the overall economy may deteriorate; the need to obtain additional financing and uncertainty of meeti ng
anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals.
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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.