Projects

Overview

Introduction
Eaglehead is an advanced exploration stage porphyry copper project (15,956 ha), located in the Liard Mining District of British Columbia, approximately 50 kilometers (kms) east of Dease Lake in Tahltan territory.  Historical drilling intersected significant intervals of copper mineralization in 120 of 126 drill holes and has identified five zones of porphyry style copper mineralization.

Property Description
In April 2021, Copper Fox purchased a 100% working interest in the Eaglehead project for CA$1.2 million, $200,000 was paid upon signing the Agreement with the remaining $1 million to be paid in three installments on each anniversary date following the closing.  The Agreement also grants a 0.5% net smelter return (NSR) royalty over the Property, half of which can be purchased for $1 million at any time up until the second anniversary of commercial production.  Certain mineral tenures covering the Property are subject to various NSR royalties, of which from 50% to 75% can be purchased for amounts ranging from $1 to $2 million.   

Project Highlights

  • 5 km long porphyry system hosting five mineralized zones.  The mineralization in these zones remains open in several directions
  • Three stages of copper mineralization including late stage, higher-grade hydrothermal breccias with associated low but significant concentrations of gold-molybdenum-silver
  • Mineralization is hosted in dioritic and granodioritic intrusives, late-stage Quartz Feldspar porphyry dikes and mafic volcanics of Kutcho Formation
  • Mineralization responds well in preliminary metallurgical testwork producing a clean, bulk copper-molybdenite concentrate with high metal recoveries
  • Sr/Y and V/Sc ratios indicate that certain intrusive phases of the Eaglehead intrusive are prospective for large copper (+- gold) deposits
  • 10 km long semi-continuous copper soil geochemical anomaly
  • 6 km long open-ended positive chargeability anomaly within which five zones of porphyry style mineralization are located

Exploration
In 2021 compilation of all available historical data, combined with an updated geological model, suggests that the mineralization represents the upper levels of a paragenetically, homogeneous, large porphyry system with the main part located north of the known mineralized zones.  The 2021 work program was designed to test the current geological model in preparation for a drilling program in 2022.  The components of the 2021 program are an IP survey, a mapping, sampling and prospecting program, re-logging and, if required, re-sampling of the diamond drill holes from the Far East zone.

Geological Model
The Eaglehead stock is a multi-phase intrusive consisting of hornblende quartz diorite intruded by biotite granodiorite and late-stage Quartz Feldspar porphyry, andesite porphyry and mafic dikes.  The copper mineralization occurs in various intrusive phases of the Eaglehead stock and in Kutcho volcanic.

Historical Exploration
Historical exploration includes 126 diamond drill holes (36,605 meters (m)), preliminary metallurgical testwork, airborne and ground geophysical surveys, soil and stream sediment geochemical surveys and limited prospecting and mapping.  Between 2014 and 2018, re-logging of 94 drill holes and re-analysis of pulp samples and additional core samples from 99 drill holes (22,697m) were completed.

Mineralization
Chalcopyrite with subordinate bornite (with low concentrations of gold-silver) occur primarily in sheet-like fractures, quartz stockwork, disseminated grains, blebs and in late-stage hydrothermal breccia.  Molybdenite occurs along shear planes, in breccia, and in quartz and gypsum veinlets.  Copper mineralization occurs in outcrop, sub-crop, and float over a 3,000m by 2,000m area located north of the Pass-Camp-West mineralized zones.  Moderate to intense potassic, pervasive phyllic (sericitic) and late stage propylitic alteration accompany the mineralization.

Mineralized Zones
Historical drill programs intersected significant porphyry mineralization in 120 of 126 holes located primarily on the Bornite and East zones with a limited number of drill holes on the Pass, Camp, Far East and West zones.  A general description of these zones is presented below:

Zone Dimensions (L/W/D) Cu Grades Mineralized Intervals Mineralization
Far East 1,500/ND/200 0.10-6.15% 0.03-12.56m py/cpy/bn/mo
East 1,000/650/6000 0.10-1.30% 11.00-521.20m cpy/bn/mo/py
Bornite 760/500/400 0.10-0.80% 12.00-231.00m cpy/bn/mo/py
Pass 1,000/ND/600 0.10-0.95% 6.00-162.00m cpy/bn/mo/py
Camp 1,400/400/250 0.10-0.95% 6.00-162.00m py/cpy/mo
West 400/160/200 0.19-0.37% 9.70-29.80m py/cpy/bn/mo

L=length, W=width, D=depth, ND=not determined, Dimensions=in meters and have been rounded, D=maximum depth of mineralized interval intersected in DDH, Cu=copper, grades reported based on 0.10% Cu cut-off, Mineralized intervals expressed from minimum to maximum in meters and have been rounded, py=pyrite, cpy=chalcopyrite, bn=bornite, mo=molybdenite

Preliminary Metallurgical Testwork
Two phases of lock-cycle and variability testwork on mineralized samples from the East, Bornite and Pass zones yielded a clean, bulk cleaner copper-molybdenum concentrate that assayed 29.6% Cu, 2.72% Mo, 28.2 g/t Au and 175.9 g/t Ag with 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).