Copper Fox Reports Analytical Results From Phase 2 Sampling Program at Mineral Mountain
Copper Fox Reports Analytical Results From Phase 2 Sampling Program at
Mineral Mountain
CALGARY, Alberta, Nov. 29, 2018 -- Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSX-V: CUU – OTC-Pink:
CPFXF) and its wholly owned subsidiary, Desert Fox Copper Inc., are pleased to provide additional analytical results for the
recently completed mapping and sampling program on its 100% owned Mineral Mountain copper project located approximately
15 miles east of Florence, Arizona.
Highlights:
• A large area of copper-molybdenum mineralization has been located in the southeast corner of Area #1 with
molybdenum concentration of up to 0.2%.
• The copper mineralization in Area #1 and Area #3 has been extended and remains open in several directions.
• The mineralization in Area #2 occurs within a narrow, northeast trending zone estimated to be 2.8 kms long.
• Two new areas of significant copper mineralization have been located in the Laramide age intrusive.
Elmer B. Stewart, President and CEO of Copper Fox, stated, “Following the significant results from the initial sampling
program, the recent results continue to expand the limits of the copper mineralization in Areas #1 and #3; and more
importantly, has identified a large area of copper-molybdenum mineralization in the southeast corner of Area #1 along the
Laramide/Precambrian intrusive contact. Results for the balance of the samples collected during the recently completed
Phase 2 sampling program will be released on receipt thereof.”
Geological Model:
The surface mineralization represents weathered porphyry copper mineralization (a “leach cap”) sitting above a buried porphyry
copper system (see news release dated April 30, 2018). The recent mapping program has located a number of intrusive
phases in the Laramide age intrusive that are not shown on the preliminary geology map covering the project area. The sulfur
content of the samples strongly supports the leached nature of the Laramide age intrusive that hosts the majority of the copper
mineralization.
Analytical Results:
The mapping and sampling program consisted of mapping lithologies, alterations, and vein assemblages. Selected rock chip
samples were collected from mineralized outcrops to characterize the metals present in veins, other mineralized structures
and the outcrop. The samples are not necessarily representative of the mineralization on the property. Outcrop exposures
within the sampled area are estimated to 5-10%. The approximate dimensions and average metal concentrations in the Areas
sampled for the current analytical results are tabulated below (see tables below for individual sample results). The average
concentrations of the metals by Area included in this news release do not include the analytical results discussed in the
November 21, 2018 news release.
Average Concentration
Area
# of
samples Length (m) Width (m) Cu (ppm) Cu (%) Mo (ppm) Mo (%) Au (ppb) Ag (ppm)
1 26 1,200 800 7,584 0.758 203.0 0.020 95.0 26.8
2 7 1,200 400 9,419 0.942 50.4 0.005 18.4 21.8
3 13 800 500 6,946 0.694 13.0 0.001 65.1 3.7
Cu = copper, Mo = molybdenum, Au = gold, Ag =silver , (%) = percent, ppm = parts per million, ppb = parts per billion
Area #1:
The copper mineralization has been extended approximately 200m to the west and 400m to the south and southeast and
remains open to the west and to the south towards Area #3. Sampling 1.6 kms to the east of Area #1 located a new area of
copper mineralization hosted in the Laramide age Quartz Monzonite intrusive. The ground between Area #1 and the new
discovery has been mapped and analytical results for the samples collected during this work are pending. The additional
analytical results for mineralized samples collected from Area #1 are shown below:
Sample
ID Cu (ppm) Cu (%)
Mo
(ppm) Au (ppb)
Ag
(ppm)
Sample
ID
Cu
(ppm) Cu (%)
Mo
(ppm) Au (ppb) Ag (ppm)
MM-393 1800 0.180 5.2 8 2.3 MM-384 8290 0.829 3.9 10 21.6
MM-394 2310 0.231 2.6 6 6.4 MM-385 5790 0.579 8.0 5 6.1
MM-395 1380 0.138 1.5 41 28.9 MM-386 16800 1.680 971.0 696 40.3
MM-398 4650 0.465 1.7 21 0.4 MM-387 20200 2.020 1060.0 8 14.1
MM-399 2080 0.208 17.8 5 0.8 MM-388 1740 0.174 8.3 10 1
MM-401 12100 1.210 732.0 98 14.2 MM-389 3230 0.323 49.5 24 2.8
MM-402 8470 0.847 4.3 9 5.0 MM-390 20900 2.090 2080.0 694 25.6
MM-403 18900 1.890 42.7 53 11.8 MM-408 2230 0.223 4.3 56 2.3
MM-404 227 0.027 0.5 9 0.2 MM-409 15200 1.520 8.4 169 12.7
MM-405 6600 0.660 31.8 5 1.6 MM-410 8880 0.880 158.0 13 3.5
MM-406 890 0.089 1.0 6 0.9 MM-411 3960 0.396 0.9 79 3.5
MM-382 22200 2.220 72.2 35 483.0 MM-413 435 0.044 0.1 5 0.5
MM-383 213 0.021 2.2 6 2.4 MM-414 7700 0.770 3.1 395 6.1
Area #2:
The additional sampling in this area indicates that the mineralization is confined to a narrow, northeast trending zone.
Analytical results for mineralized samples from Area #2 are shown below:
Sample
ID Cu (ppm) Cu (%)
Mo
(ppm) Au (ppb)
Ag
(ppm)
Sample
ID
Cu
(ppm) Cu (%)
Mo
(ppm) Au (ppb) Ag (ppm)
MM-356 208 0.021 6.1 11 3 MM-342 10600 1.060 282 15 6.1
MM-357 7540 0.754 4.6 10 4.8 MM-361 1420 0.142 44.4 23 6
MM-358 13900 1.390 8 37 83.2 MM-367 32100 3.210 3.1 5 40.8
MM-365 167 0.017 4.3 28 8.9
Area #3:
The copper mineralization has been extended approximately 400m to the south and mapping and prospecting indicates that
the mineralization is open to the north toward Area #1 and to the south. A new area of copper mineralization has been located
approximately 600m west of Area #3 hosted in Laramide age Quartz Monzonite intrusive. Analytical results for mineralized
samples collected in Area #3 are shown below:
Sample
ID Cu (ppm) Cu (%)
Mo
(ppm) Au (ppb)
Ag
(ppm)
Sample
ID
Cu
(ppm) Cu (%)
Mo
(ppm) Au (ppb) Ag (ppm)
MM-372 11400 1.14 98.4 45 4.5 MM-376 2320 0.232 1.2 <5 0.5
MM-373 12400 1.24 12.2 18 7.4 MM-377 9860 0.986 7.1 8 9.7
MM-374 1570 0.157 0.5 18 0.9 MM-378 7030 0.703 2.9 17 3.1
MM-364 4940 0.494 4.7 99 6.9 MM-379 19700 1.97 8.7 292 3.6
MM-370 1120 0.112 0.5 <5 0.4 MM-380 7490 0.749 0.6 <5 0.4
MM-371 6210 0.621 28.7 56 9.7 MM-444 2440 0.244 3.2 34 0.8
MM-375 3820 0.382 0.9 <5 0.7
Mineralization:
The copper mineralization occurs in quartz veins, veinlets and sheeted quartz veins (with and without potassic alteration
envelopes), as malachite-chalcocite and chalcocite veins and veinlets (of variable thickness), on fractures and disseminations
hosted in potassic and phyllic altered Laramide age Quartz Monzonite and porphyritic intrusives (containing 15-30%
phenocrysts). The main copper minerals are malachite, chrysocolla and chalcocite with minor azurite, native copper and rare
chalcopyrite. Gangue minerals include goethite after pyrite and jarosite.
Analytical and Sampling Procedures:
Outcrop sampling as well as mapping lithologies, alterations, and vein assemblages was completed. Selected rock chip
samples were collected from outcrop to characterize the metals present in veins, other mineralized structures and the outcrop.
Outcrop exposures within the sampled area are estimated to 5-10%. The samples were picked up from site by Skyline
Laboratories of Tucson, Arizona.
Samples were crushed to plus 75% -10 mesh, split and pulverized to plus 95% -150 mesh. Pulps were subjected to a multi-
acid digest (HNO3, HF, and HClO4). Gold was analyzed on a 30-gram charge by fire assay (FA-01) with an atomic absorption
finish. Skyline’s package code TE-5 was used to analyze the samples for the base and other trace elements. Metal
concentration in samples exceeding the upper limit of detection were assayed for copper using (MEA) and silver (FA-04).
Skyline has an ISO/IEC 17025/2005 accreditation.
Quality Control:
A total of 1 field blank and 5 certified reference standards were inserted (insertion rate 1:17) with the sample for which
analyses are being reported. QA/QC shows that 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 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 Columbia 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. Renmark Financial Communications Inc.
Lynn Ball: [email protected] Robert Thaemlitz: [email protected]
(844) 484-2820 or (403) 264-2820 Tel: (416) 644-2020 or (514) 939-3989
www.copperfoxmetals.com www.renmarkfinancial.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: the copper-molybdenum mineralization in the southeast corner of Area #1; molybdenum concentrations
of up to 0.2%; releasing the remaining results of Phase 2 sampling; the approximate dimensions of the mineralized zones and
average concentrations of the metals for the target areas and two additional areas of significant copper mineralization; and the
leached nature of the Laramide age intrusive that hosts the majority of the copper mineralization.
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;
and receipt of the remaining results from the Phase 2 sampling program. 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 dimensions and shape of the
mineralized areas may not be as estimated; the additional samples may be delayed or may not yield significant
concentrations of metals; additional sampling may not locate copper mineralization; the surface mineralization may not
represent buried porphyry style mineralization; uncertainties relating to interpretation of the outcrop sampling results; the
geology, continuity and concentration of the mineralization; the financial markets and the overall economy may deteriorate; the
need to obtain additional financing and uncertainty of meeting anticipated program milestones; 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.