Copper Fox Commences Updated Resource Estimate ON the Van Dyke Copper Project
COPPER FOX COMMENCES UPDATED RESOURCE ESTIMATE
ON THE VAN DYKE COPPER PROJECT
Calgary, Alberta– July 17, 2019. Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSX-V: CUU –
OTC-Pink: CPFXF) and its wholly owned subsidiary, Desert Fox Copper Inc. (“ Desert Fox”) are pleased to
provide shareholders an update of activities and analytical results for the Van Dyke In-Situ Leach (“ISL”) oxide
copper project (see news release May 28, 2019).
Highlights:
Moose Mountain Technical Services (“MMTS”) has been retained to complete an updated resource
estimate for the Van Dyke copper deposit.
MMTS completed the Preliminary Economic Assessment of the Van Dyke copper deposit in 2015 and the
maiden resource estimate in 2014.
The four drill holes reported in this news release were previously reported to contain no soluble copper
greater than 0.05%.
DDH-UVD-14 returned an average of 0.445% acid soluble copper (“ASCu”) over a 79.09 meter (‘m’)
core interval including a 6.25m interval grading 1.008% ASCu.
The additional sampling extended the mineralized intervals reported from the Phase I sampling program
in six drill holes with increases ranging from 11.0m to 47.2m.
Elmer B. Stewart, Pr esident and CEO of Copper Fox, stated, “ The analytical results from the Phase II sampling
program along with a more robust geological model were the basis for the decision to proceed with an updated
resource estimate. The updated estimate will include the drill holes listed in this news release along with five
additional drill holes that were excluded from the maiden resource estimate for the Van Dyke copper deposit.”
The weighted average acid soluble copper concentrations using a 0.05% ASCu cutoff for the last four drill holes
from the Phase II analytical program reported in this news release are shown below. To compare the weighted
average grades for the historical and 2019 analytical results, the analytical results from the historical database were
weight averaged over the same interval corresponding to the 2019 interval.
DDH From To Interval 2019 Historical 2019 Historical Acid Soluble
ID Azi Dip (m) (m) (m) TCu (%) TCu (%) ASCu (%) ASCu (%) 2019/Historical (%)
OXY-21 0 -90 457.81 498.35 40.54 0.397 0.412 0.121 0.025 484%
UVD-14 0 -90 521.06 600.15 79.09 0.425 0.264 0.445 NR
OXY-29 0 -90 381.00 416.97 35.97 0.227 0.226 0.080 0.020 400%
VD-10 0 -90 312.72 395.63 82.91 0.468 0.492 0.149 0.016 931%
TCu= total copper, (%) = percent , (m) = meters, ASCu = acid soluble copper, NR = reported no ASCu over 0.05%, the above mineralized
intervals do not represent true widths.
The following table compares the thickness of the 2019 mineralized intervals based on 0.05% ASCu cut-off to the
reported historical mineralized intervals for the four holes reported in this news release.
2
2019 Results
Historical Results
DDH From To Interval From To Interval Thickness (m)
ID (m) (m) (m) (m) (m) (m) 2019 minus historical
OXY-21 457.81 498.35 40.54 NR NR 0.00 40.54
UVD-14 521.06 600.15 79.09 NR NR 0.00 79.09
OXY-29 381.00 416.97 35.97 NR NR 0.00 35.97
VD-10 312.75 395.63 82.88 NR NR 0.00 82.88
NR = reported no ASCu over 0.05%, (m) = meters, the above mineralized intervals do not represent true widths.
The weighted average grades for the mineralized intervals were estimated using a 0.05% ASCu cutoff; in line with
the cutoff grade used in the maiden resource estimate for the Van Dyke copper project completed in 2014 . A
maximum interval of 3 meters grading less than 0.05% ASCu within the mineralized interval was tolerated w hen
estimating the weighted average. The Phase II sampling extended the mineralized intervals reported from the Phase
I sampling in the follow drill holes. Re-stated weighed average grades and mineralized intervals are reported below.
Phase I Reported Phase II Results
DDH From To Interval 2019 2019 From To Interval 2019 2019
ID (m) (m) (m) TCu (%) ASCu (%) (m) (m) (m) TCu (%) ASCu (%)
OXY-3 594.17 615.77 21.60 0.264 0.213 594.17 628.19 34.02 0.277 0.140
OXY-7 396.24 527.17 130.93 0.575 0.489 396.24 547.23 150.99 0.469 0.429
OXY-11 309.37 368.20 58.83 0.246 0.122 309.37 379.17 69.80 0.348 0.162
OXY-22 403.57 499.57 96.00 0.150 0.108 403.57 546.80 143.23 0.135 0.093
OXY-28 403.25 446.25 43.00 0.263 0.222 403.25 476.40 73.15 0.207 0.149
VD-1 555.04 580.34 25.30 0.689 0.678 555.04 592.53 37.49 0.571 0.331
TCu= total copper, (%) = percent, (m) = meters, ASCu = acid soluble copper, the above mineralized intervals do not represent true widths.
*partial results reported in 2014.
Analytical Procedures:
Sample preparation and analytical work was completed by Skyline Assayers & Laboratories located in Tucson,
Arizona. Skyline’s package codes CuT, CuSeq and CuCn were used to determine total copper, sequential copper
and cyanide soluble copper. Sequential copper analysis uses a 0.25-gram sample digested (at room temperature) in
5% sulfuric acid and the solution is then diluted to 100 mL with deionized water. The residue from the sample is
digested in 10% sodium cyanide solution and diluted to 100 mL. Atomic Absorption Spectrometry (“AAS”) was
used to determine copper concentrations. Skyline has an ISO/IEC 17025/2005 accreditation.
Quality Control:
A total of 15 blanks and certified reference standards were inserted (insertion rate 1:12) with the samples for which
analyses are being reported. The Skyline results for the blank and standards were within +/-5% of accepted value
for the blank and standards.
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
3
on copper exploration and development in Canada and the United States. The principal assets 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 Columb ia and a 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.
On behalf of the Board of Directors
Elmer B. Stewart
President and Chief Executive Officer
For additional information contact:
Copper Fox Metals Inc.
Lynn Ball: [email protected]
(844) 464-2820 or (403) 264-2820
www.copperfoxmetals.com
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 generally 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: higher acid soluble
copper concentrations than the initial analytical results ; thicker mineralized intervals than the initial analytical
results; the possibility of completing an updated resource estimate and updating the geological model for the Van
Dyke project.
In connection with the forward-looking information contained in this news release, Copper Fox and its subsidiaries
have made numerous assumptions regarding, amon g 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 re liability 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: the possibility that an updated resource estimate on the Van Dyke project may not be completed with in a
reasonable time frame or at all; the possibility that the update geological model may not be completed within a
reasonable time frame or at all; uncertainties relating to interpretation of the analytical results; the geology,
continuity and concentration of the mineralization; the financial markets and the overall economy may deteriorate;
the need to obtain additional financing ; 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 -
4
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.