Introduction
Eaglehead is an Early Jurassic (195 Ma) age resource stage porphyry copper project covering 15,713 ha (157.1 km2) located 50 kilometers (km) east of Dease Lake in the Liard Mining District, British Columbia, within Tahltan territory. The porphyry footprint is defined as an 8km by 3km area of porphyry style mineralization and alteration exposed in a northwest trending valley containing four open-ended porphyry copper deposits, two areas of widespread porphyry style mineralization and 173 copper showings referrred to as the “mineralized corridor” located on the southern margin of the Eaglehead intrusive. The project is located in Quesnel terrane on the north side of the Thibert fault system that separates the Quesnel and Cache Creek tectonic plates.
Property Description
Copper Fox, through its 100% owned subsidiary, Northern Fox Copper Inc., owns a 100% working interest in the Eaglehead project. The project or portions thereof is encumbered by net smelter return (NSR) royalties of which from 50% to 75% can be purchased for amounts ranging from $1 to $2 million.
Mineral Resource Estimate
In 2023, an updated, pit constrained mineral resource estimate (MRE) was completed for the Eaglehead project (click for report). Metal prices used in the MRE are USD: $3.50/lb Cu, $20/lb Mo, $1,750/oz Au and $10/oz Ag. Metal recoveries based on locked cycle testwork to the third cleaner concentrate stage are 89.9% Cu, 71.1% Mo, 78.6% Au and 78.1% Ag. Selected mineralized intervals (at 0.10% Cu cut-off) are listed below.
| Zone | DDH | Dip | From (m) | To (m) | Interval (m) | Cu (%) | Mo (%) | Au (g/t) | Ag (g/t) |
|---|---|---|---|---|---|---|---|---|---|
| East | 86 | -65 | 114.91 | 453.24 | 338.33 | 0.329 | 0.030 | 0.08 | 1.23 |
| incl. | 398.37 | 453.24 | 54.87 | 0.709 | 0.032 | 0.09 | 2.06 | ||
| Bornite | 116 | -55 | 11.00 | 75.00 | 64.00 | 0.278 | tr | 0.08 | 1.08 |
| and | 140.00 | 251.00 | 111.00 | 0.483 | 0.020 | 0.28 | 1.40 | ||
| Pass | 125 | -70 | 470.00 | 609.00 | 139.00 | 0.180 | 0.013 | 0.09 | 0.76 |
| Camp | 29 | -80 | 152.40 | 185.90 | 33.50 | 0.430 | n/a | n/a | n/a |
| and | 210.30 | 243.80 | 33.50 | 0.490 | n/a | n/a | n/a |
Notes: tr=element present but in amounts less than 30 parts per million, n/a=not analyzed, capping of higher-grade results was not employed, weighted average interval includes up to 12m core length of material below the Cu cut-off , intervals do not represent true thickness.
Porphyry Footprint
The project covers an Early Jurassic age (194.8 +/- 0.1 Ma to 195.1 +/- 0.13 Ma) porphyry copper (Cu-Mo-Au-Ag) system like the Highland Valley district in central British Columbia, hosted in the Eaglehead intrusive; a calc-alkalic, multi-phase intrusive derived from a hydrous, oxidized magma at depth. Biotite granodiorite, the primary host rock for the mineralization intrudes the hornblende quartz diorite and the quartz porphyry. The molybdenite mineralization yielded a 194.2 +/- 0.9 Ma age (Re-Os).
The porphyry mineralization consists primarily of chalcopyrite and bornite associated with potassic, and texturally destructive sericite-chlorite alteration hosted in crosscutting, multi-phase quartz-sulphide veins, quartz vein stockworks, fractures, stingers, disseminations, EDM veins and associated with mafic minerals. Significant concentrations of recoverable gold-molybdenum-silver occur with the copper mineralization. The mineralization zones exhibit a strong spatial association with hydrothermal magnetite and the positive chargeability anomaly. Widespread, potassic altered late-stage magmatic-hydrothermal breccias containing higher grades of copper-molybdenum-gold-silver mineralization occur within the Bornite and East porphyry deposits. The pyrite content of the mineralization is estimated to be less than 1%.
The alteration and metal associations show a regional zonation transitioning from dominantly potassic with Cu-Mo-Au-Ag mineralization in the East zone to mainly phyllic with Cu +/- sporadic Ag-Mo-Au mineralization in the Camp zone.
The 173 copper showings located north of the Camp and Pass zones yielded metal concentrations as follows: 0.06% to 6.90% Cu, 1 to 488 parts per million (ppm) Mo, 3 to 5,2885 parts per billion Au and 0.02 to 49.2 ppm Ag. The 2025 geophysical survey was completed over this portion of the mineralized corridor.
Preliminary Metallurgical Testwork
Bench scale flotation testwork on composite and variability samples included kinetic tests and locked cycle tests (LCT) was completed on the East, Bornite and Pass zones. Copper sulphide liberation ranged from 55.6% to 79% with 71.5-97.5% of copper sulphides showing greater than 20% exposure. Molybdenite liberation ranges from 63% to 79%.
The locked cycle testing employed four stages of roughing, followed by regrind and three stages of cleaning with a primary grind size K80 of 145 um and regrind K80 of 21 um. In the locked cycle testing, copper grades in the four variability samples ranged from 0.16-0.31% Cu and 0.20% for the master composite. The locked cycle testwork yielded a clean bulk copper-molybdenum concentrate that assayed 29.6% Cu, 2.72% Mo, 28.2g/t Au and 175.9g/t Ag with predicted metal recoveries of 89.9% Cu, 71.1% Mo, 78.6% Au and 78.1% Ag to concentrate. The Bond Work Indices that ranged from 16.9 to 20.6 kWh/t (average 18.6 kWh/t) and Bond Abrasion Index ranged from 0.211g to 0.554g (average 0.381g).
Additional testwork on copper-molybdenite separation and flotation optimization were recommended.