Copper Fox is in the copper business, focused in North America. Our business is finding copper and our strategy is simple, acquire potentially large, low cost, porphyry copper projects, complete the exploration work to advance these projects to the stage where they can be monetized.
The Company’s pipeline of advanced and exploration stage projects, located in proven copper mining districts, allows the opportunity to conduct operations on a year round basis. Our approach is methodical, applying Best Practice Principles thereby de-risking the project at each stage and maximizing its value on a per dollar spent basis.
Our business model has resulted in the Company establishing resources in two advanced stage projects with significant quantities of copper, gold, molybdenum and silver.
A recent example of the Company’s ability in value creation is the completion of an Updated Resource Estimate for our Van Dyke project. A $CDN370,000 investment in exploration resulted in a higher confidence level in the resource and a 50% increase in the soluable copper content (approximately 400 Mlbs). This Updated Resource Estimate demonstrates for the first time an Indicated Mineral Resource category and has positive implications for surfacing additional value in the project.
Copper Fox’s most advanced asset is a 25% carried interest in the Schaft Creek Joint Venture (SCJV) with Teck Resources Limited as Operator. Schaft Creek is one of the largest undeveloped porphyry copper deposits in North America. The SCJV is focused on strengthening the 133ktpd scenerio and the technical-engineering value opportunities identified by the 2018 Sizing and Infrastructure Alternatives study.
Mineral Mountain and Sombrero Butte are exploration stage copper projects focused on Laramide age intrusives. The 2019 work programs significantly increased the size of the porphyry targets for both projects and increased the confidence in the potential for these projects to host large porphyry copper deposits.
In keeping with our strategy, Copper Fox has recently entered into a transaction (subject to regulartory approval) to purchase 100% of the Eaglehead project located in northern British Columbia. While this is an exploration stage project, the technical data for the project indicates the potential for this project to host a sizable porphyry copper system.