Plans to Commence Phase I Activities at Van Dyke Copper Project
COPPER FOX
ANNOU
N
CES
PLANS TO COMMENCE PHASE I ACTIVITIES
AT
VAN DYKE
COPPER
PROJECT
Calgary, Alberta–
September
8, 2022,
Copper Fox Metals Inc. (‘Copper Fox’ or the
‘Company’)
(TSX-V:
CUU)
(OTCQX:
CPFXF)
(FSE:
HPU),
through
its
wholly
owned
subsidiary
Desert
Fox
Copper
Inc.,
are
pleased
to
announce
the
results
of
an
early-stage
Biological
Evaluation
(“BE”)
of
certain
parts
of
the
Van
Dyke
project
prepared
by
WestLand
Engineering
&
Environmental
Services,
Tucson, Arizona.
Van
Dyke
is
an
in-situ
copper
recovery
(‘ISCR’)
project,
located
in
the
Tier
1
mining
jurisdiction
of
Arizona,
USA.
In
early
2021,
a
Preliminary
Economic
Assessment,
prepared
in
accordance
with
National Instrument 43-101,
(click here for the News Release)
indicated an
after tax Net
Present Value
of
US$644.7
million
and
Internal
Rate
of
Return
of
43.4%.
The
PEA
recommended
that
the
project
should be advanced to the Preliminary Feasibility Stage and
concluded that the project
has the potential
to become a mid-tier copper mine
producing in the order of 85
million pounds
(approximately
39kt)
of
copper per
year.
The objective of the
BE
was to
determine if special-status species or critical habitat occur within, or will
be impacted by, Project
construction
activities.
Highlights:
•
Of
the
six
ESA-listed
special-status
species
evaluated,
four
species
have
no
potential
to
occur,
and
two
species are unlikely to occur.
•
Of
the
two
BGEPA
species
evaluated,
one
has
no
potential
to
occur,
and
one
has
an
unlikely
potential to occur.
•
None
of
the
special-status
species
evaluated
have
the
potential
to
be
adversely
affected
by
the
Project.
•
There is no designated critical habitat within the Project Area.
•
Increases
in
noise
and
vibration
levels
from
construction
activities
would
be
temporary
and
in
keeping with existing noise effects.
•
The
potential
effects
of
dust
on
wildlife
and
vegetation
are
not
expected
to
be
substantially
different from current conditions within the Project Area.
•
Disturbance
related to construction activities
would result in
some minor
loss of vegetation that
may provide
limited
wildlife habitat.
Elmer B. Stewart, President and CEO of Copper Fox stated, “The
preservation of
wildlife
and wildlife
habitat
are
fundamental
aspects
of
Copper
Fox’s
operating
strategy
and
ESG
policy
.
Based
on
the
findings
of
the
Biological
Evaluation,
Copper
Fox
plans
to
commence
Phase
I
activities
(estimated
to
cost US$240,000)
to investigate the potential of rehabilitating
and completing a comprehensive testing
program
on
existing
drill
holes
to
establish
hydrogeological
monitoring
sites.
Results
of
the
Phase
I
activities
would be used to
establish a base on which to advance the project
to Phase II
which
includes
additional
drilling
to
expand
the
hydrogeological
monitoring
system
and
collection
of
data
to
advance
the project to the Preliminary Feasibility stage.”
2
Biological Evaluation;
The BE provides a screening and effects analysis to determine the potential to occur of special -status
species or their critical habitat to occur within the project area and to evaluate Project effects related to
planned future activities . The area covered in the BE occurs in and near the town of Miami, Arizona,
and is shown in Image #1:
Special Status Screening Analysis:
For the purposes of the BE, Special-status species are defined as species designated by the U.S. Fish and
Wildlife Service (USFWS) as Endangered or Threatened under the Endangered Species Act (ESA and
species protected under the Bald and Golden E agle Protection Act (BGEPA). Based on the special -
status species list generated from the IpaC tool, a screening analysis was performed to evaluate the
potential for these species to occur and to determine the presence or absence of designated or proposed
critical habitat within the Project Area.
Potential for Special Status Species to Occur and Effects Determination:
Of the six ESA -listed special-status species evaluated, four species have no potential to occur, and two
species are unlikely to occur. Of the two BGEPA species evaluated, one has no potential to occur, and
3
one has an unlikely potential to occur. All special -status species evaluated had an effects determination
of no effect. There is no designated critical habitat within the Project Area.
ESA Listed Species:
The six species listed or proposed for listing under the ESA identified for the Project Area in the IpaC
query are ocelot, southwestern willow flycatcher, yellow-billed cuckoo, Mexican gray wolf, northern
Mexican garter snake, and monarch butterfly. Of these six species, no species were determined to have
the potential to occur of Possible, two were determined to have the potential to occur of Unlikely
(yellow-billed cuckoo and monarch butterfly), and four were determined to have the potential to occur
of None.
BGEPA Listed Species:
Of the two BGEPA listed species, golden eagle has the potential to occur in the Project Area of Unlikely
and bald eagle has the potential to occur of None.
Effects Analysis:
An effects analysis for direct and indirect impacts to special -status species from Project activities was
conducted for the Project Area. Effects to species afforded protection under the ESA were analyzed per
the Region 2 guidance for ESA (USFWS and NMFS 1998) consultation w hich includes four potential
effects determinations: a) No effect, b) May affect, not likely to adversely affect, c) May affect, likely to
adversely affect, or d) May affect, beneficial effect.
Dust Fugitive:
Dust may be generated because of the Project. Dust can affect the growth processes of vegetation and
alter the structure of plant communities in an area thus potentially affecting wildlife habitat. However,
considering that the Project will minimize fugitive dust through dust suppression efforts, and the Project
will occur in an area that already has dust disturbance from roadways and nearby mining activities, the
potential effects of dust on wildlife and vegetation are not expected to be substantially different from
current conditions within the Project Area.
Noise and Vibration Noise:
Noise and vibration noise levels from surface disturbance and construction are anticipated to increase in
areas surrounding these activities. T he Project Area is adjacent to existing roadways, mines, with
substantial increases in noise levels expected to be limited to areas within approximately 1,000 ft of the
Project Area (USDOT 2006). Increases in noise and vibration levels from construction would be
temporary and are not expected to result from construction activities over the long term.
Surface Disturbance:
Surface disturbance will impact urban properties within the Project Area. The clearing for site
infrastructure will remove any actual or potential wildlife habitat within the Project Area. Disturbance
would result in the loss of some vegetation that may provide suitable wildlife habitat.
Methodology of the Biological Evaluation:
The BE was completed using information collected from the following public sources.
a) The natural history and known geographical and elevational ranges of the species.
4
b) Results of an Arizona Game and Fish Department (AGFD) Heritage Data Management System
(HDMS) online environmental review tool query that provided records of special -status species
within three miles of the Project Area.
c) Soil Survey Staff accessed online July 8, 2022.
d) Other occurrence records in published or grey literature, including citizen science data.
e) Data provided by the AGFD HabiMap online mapping system.
f) Data provided by the USFWS Critical Habitat Portal online mapping tool.
The criteria used to determi ne the potential of occurrence of each species included in this screening
analysis are defined as follows:
Present: The species has been observed within the Project Area and the Project Area is within the
known range and distribution of the species, and habitat characteristics required by the species are
present.
Possible: There are no known records of the species within the Project Area, but the known, current
distribution of the species includes the Project Area and the required habitat characteristics of the
species appear to be present in the Project Area. Observations associated with citizen science databases
are evidence that a species is possible within the Project Area.
Unlikely: The known, current distribution of the species does not include the Project Area, but the
distribution of the species is close enough such that the Project Area may be within the dispersal or
foraging distance of the species, and they may show up as transients. The habitat characteristics required
by the species may be present in the Project Area.
None: The Project Area is outside of the known distribution of the species and or the habitat
characteristics required by the species are not present.
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) and the OTC Market (OTCQX: CPFXF) in the United States 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, are the 100% ownership of the Van Dyke oxide copper project
located in Miami, A rizona 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. 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:
5
Lynn Ball: [email protected]
(844) 464-2820 or (403) 264-2820
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 include statements about: evaluation of six ESA -listed special-status species and two BGEPA
species; all special-status species evaluated had an effects determination of no effect; no designated critical habitat
within the Pr oject Area ; temporary i ncreases in noise and vibration levels from construction activities ; the
potential effects of dust on wildlife and vegetation; surface disturbance due to construction activities would result
in the loss of some vegetation that may provide suitable wildlife habitat ; and commencing Phase I of the 2022
work program.
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: obtaining the NoW approval and
permits; completing the 2022 program on time and within budget ; the geological, metallurgical, engineering,
financial and economic advice tha t 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 findings of the Biological Evaluation may not be accurate; the prediction on noise and vibration levels
from construction activities may not be accurate; the potential effects of dust on wildlife and vegetation and the
loss of some vegetation related to construction may not be as predicted; the 2022 work program may not be
completed as planned, or at all; the drilling targets may not provide the results anticipated; 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 result s, events, or
developments, except as required by law.