Provides Update FOR Mineral Mountain Project
COPPER FOX
PROVIDES UPDATE FOR
MINERAL MOUNTAIN
PROJECT
Calgary, Alberta
–
May
22
, 2024
. Copper Fox Metals Inc.
(“Copper Fox” or the “Company”)
(TSXV:CUU |
OTCQX:CPFXF |
FSE:HPU
)
and its wholly owned subsidiary, Desert Fox Mineral Mountain Co. (“
Desert Fox
”),
are pleased to provide an update on the progress of the application to obtain a permit to conduct drilling operation
s
at its 100% owned
exploration stage
Mineral Mountain porphyry copper property (2,692.4 ha) located in the Mineral
Mountain Mining District, Arizona (see News Release dated April 11, 2024).
The Mineral Mountain project is located on a northeast trending, regional scale, porphyry copper belt that hosts
some of the largest porphyry copper deposits in Arizona including Santa Cruz and Resolution. The project is located
approximately 25 kilometer
s (km) (15 miles) southwest
from Rio Tinto and BHP’s giant Resolution porphyry
copper
-
molybdenum deposit
and approximately 25 km northeast of Taseko’s Florence porphyry copper deposit.
SWCA Environmental Consultants, an Arizona based firm specializing in environmental, regulatory, and natural
and cultural resources management services, has been retained
by
Copper Fox to
complete the literature
review
and
field work required to
prepare
an
Environmental
Assessment
(E
A
), pursuant to the National Environmental
Policy
Act, (NEPA), and Solicitation of Public Comments on the Plan of Operations
(PoO)
prior to receiving a decision
from the
Bureau o
f
Land Management (
BLM
)
on the drilling permit.
Highlights
The work program consists of a literature review and field based studies in coordination and compliance with
the policies and guidelines
established by the BLM and other Federal and Arizona State regulatory bodies.
The field
work
program includes a general assessment of a
447
acre area and includes an 86 acre area of
a
species specific survey
for the endangered acuña cactus
.
The work program
includes
cultural, biological and
archeological studies
and an E
A
over
a
447
acre
area of the
property
.
These surveys are
focused
on
the location and
,
if observed
,
documentation of
plant and animal species
that
are
on an endangered species list as well as documenting the
species habitat for such species
to assess the
environmental impact and potential
cumulative
effects on the environment
resulting from the proposed
program.
The
program
is expected to take approximately
four
month
s
to complete
with
an
estimated
cost of
US$42,000.00
.
The
estimated t
imeline and costs
are subject to change contingent on
amendmen
t
s
to the scope
of work
that
could be
requested by either Federal or State authorities.
Elmer B. Stewart, President, and CEO of Copper Fox, stated, “
Copper Fox is pleased to have retain
ed
SWCA to
complete the required work in furtherance of obtaining a permit from the
BLM
to
conduct
a
“
maiden
”
drilling
program
on the Mineral Mountain porphyry copper project.
Copper Fox has
advanced
this project from
the
“
conceptual
”
stage
,
through exploration
to a high priority
drill target.
Obtaining a drilling permit is the next st
ep
to
test the porphyry
“footprint”
exposed on surface and the larg
e
chargeability
bod
y
at depth.
T
he
regional location
,
the chargeability target
and porphyry footprint
suggest
the potential
for the discovery of a Laramide age porphyry
copper deposit
.
”
Background
Copper
Fox
submitted a PoO
to conduct
a
drilling program
at four location
s
on
their
Mineral Mountain
porphyry
copper project
and rece
ive
d
approval from the BLM
,
Tucson Field Office
.
The
BLM
requires
Copper
Fox
to prepare
an
EA
and
supportin
g
resource surveys
due
to the project being partially
located within designated
critical habitat
for
the acuña cactus
.
SWCA will co
-
ordinate all activities with the BLM and other Federal and
State
regulatory
bodies
in advance of commencing field activities and generate reports
on each phase of the work program.
2
P
hase
1 B
iological Resources
SWCA will
review
the
files of
applicable
Federal and
S
tate authorities
to identify
for Pinal County
special
-
status
species
and
any
special areas
,
such as wildlife corridors.
The fieldwork includes
a
general site visit covering
a
447.22
-
acr
e
area an
d a
species
-
specific survey
over a
85.92
-
acre are
a
to
document
existing, plant species, noxious
or
invasive species,
wildlife
species,
and
the suitability
of
habitat for
special
-
statu
s
species
including
the
Migratory
Bird Treaty
Act, Bald
and
Golden Eagle Protection
Act,
Executive Orde
r 1
3112
on
Invasive Species
and
relevant
requirements
of
special
designation
areas, such as
critical habitat, wildlif
e
corridors,
and
important bird areas.
P
hase
2 C
ultural Resources
A
Cultural Resource Use Permit (CRUP)
permit
is required from the BLM
to conduct th
is
phase of the program
consisting
of
a
literature
review
for recorded archaeological sites
from
State
regulatory bodies to identify
buildings
an
d
structures, and previously
conducted
cultural resources
projects
within 1.0 mile of
each
drill pad site.
Th
is
survey
will
examine each drill
pa
d
area
with
a
20
-
meter buffer
for
archaeological artifacts, sites, and historic
buildings/structures.
New archaeological sites
if any;
will
be
photographed, mapped
to scale, fully
recorded
and
evaluated for eligibility
for
listing in the
National
Register of Historic Places
.
P
hase
3 E
nvironmental Assessment
(EA)
The
EA
is based on the field data and
is being completed to
assess
the
affected environment and
potential
environmental effects
, including cumulative effects
that may
result from the proposed project
in
accordance with the
BLM’s
NEPA guidance
to
identify resource
or
resource
issue
s
to be addressed.
Elmer B. Stewart, MSc. P.Geo.,
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 focused on copper exploration and development in Canada and
the United States.
The principal assets of Copper Fox and its wholly owned subsidiaries being Northern Fox Copper
Inc. and Desert Fox Copper Inc., are the 100% ownership
s
of the Van Dyke
ISCR
project
,
and
the Mineral Mountain
and Sombrero Butte porphyry copper exploration projects
all
located in Arizona, the 25% interest in the Schaft
Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper
-
gold
-
molybdenum
-
silver project and
the 100% owned Eaglehead polymetallic porphyry copper project each located in northwestern Brit
ish Columbia.
For more information on Copper Fox’s mineral properties and investments visit the Company’s website at
www.copperfoxmetals.com
.
On behalf of the Board of Directors
Elmer B. Stewart
President and Chief Executive Officer
For additional information
contact
:
Fidel Mont
a
gu
at
or 1
-
844
-
464
-
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.
3
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 identi
fiable 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;
preparation of an
Environmental Assessment, biological,
cultural,
and archeological surveys
, preparation of reports as required by
Federal and Arizona state regulators
.
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 con
sistent 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
ot
hers:
preparation of the Environmental
Assessment, the
biological
and
cultural and archeological surveys
may not
be completed on time or as expected or at all
;
the Solicitation of
P
ublic
C
omment may not occur as planned or at
all
;
the
drill permit may not be
approved as contemplated or at all
;
the
financial markets and the overall economy
may deteriorate;
the need to obtain additional financing
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.sedarplus.ca
.
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.