Copper Fox holds a diversified portfolio of copper projects that provides its shareholders exposure to various phases of the copper industry while at the same time eliminating the inherent risk associated with holding a single asset.  The projects and investments range from exploration to advanced stage projects such as our interest in the Schaft Creek Joint Venture and the Van Dyke copper project.  This exposure allows Copper Fox to create value by way of exploration success and or further development of its technically advanced projects.

Our main asset is a 25% carried interest in the Schaft Creek Joint Venture (SCJV) with Teck Resources Limited (‘Teck’). Schaft Creek is one of the largest undeveloped porphyry copper-gold-molybdenum-silver deposits in North America located in northwestern British Columbia.  To date, the limits of the mineralized envelope in the Schaft Creek deposit has not been defined and the Discovery Zone (porphyry style mineralization) is located approximately 2 kilometers to the north of the Schaft Creek deposit has not been drilled out. The estimated resource categories for the Schaft Creek deposit is set out below:

Resource Category Tonnes (Mt) Cu (%) Mo (%) Au(g/t) Ag (g/t) Cu (lb) Mo (lb) Au (ozs) Ag (ozs)
Measured 146.62 0.31 0.017 0.24 1.78     1,001,766,488       54,935,582      1,131,345      8,390,811
Indicated 1,081.84 0.26 0.017 0.18 1.68     6,199,375,936     405,343,811      6,260,749    58,433,655
Inferred 597.19 0.22 0.020 0.17 1.65     2,895,654,872     263,241,352      3,264,015    31,680,149

(Mt)= million tonnes, (%) =percent, (g/t) =grams per tonne, (lb)=pounds, (ozs)=ounces.  Technical Report “Feasibility Study on the Schaft Creek Project, BC, Canada”, dated January 23, 2013, prepared by Tetra Tech, A. Farah, P. Eng.; et al as Qualified Persons; at 0.15% CuEq cutoff. Reserves reported at $6.60/tonne net smelter return (NSR) cutoff.

Since formation of the SCJV in 2013, verification and technical studies all directed at advancing the technical understanding and surfacing the value of the project have been completed.   In 2017, the SCJV updated the resource model for the Schaft Creek deposit, and found no material change to the resource estimate used in the 2013 feasibility study. The positive outcome of the 2017 work program was the basis for the sizing and infrastructure study completed in 2018 that investigated various sizing scenarios targeting potential capital, operating and sustaining cost reductions, a higher-grade initial starter pit and identify other infrastructure and access opportunities to improve project economics.  The 2018 work identified the 133 ktpa scenario most optimal. The receipt of the Multi-Year Area Based Permit for the Schaft Creek project allows the SCJV to complete future field activities and includes approval for up to 50 diamond drill holes, none of which are planned at this stage.(Mt)= million tonnes, (%) =percent, (g/t) =grams per tonne, (lb)=pounds, (ozs)=ounces.  Technical Report “Feasibility Study on the Schaft Creek Project, BC, Canada”, dated January 23, 2013, prepared by Tetra Tech, A. Farah, P. Eng.; et al as Qualified Persons; at 0.15% CuEq cutoff. Reserves reported at $6.60/tonne net smelter return (NSR) cutoff.

The Schaft Creek 2019 budget is $2.1 million to further evaluate the identified engineering improvements options to reduce capital and operating costs assuming a 133 ktpd throughput case. In addition to the planned field studies (geotechnical and environmental), a review of the site characteristics of potential revisions to key infrastructure elements, e.g., tailing storage, conveyance systems, ore and waste transport options, and mill location as well as assembling a project team dedicated to the Schaft Creek project is underway.  Other activities planned in 2019 include collection of baseline environmental data and ongoing work with the Tahltan First Nation.

Copper Fox owns a 100% working interest in the Van Dyke In-Situ Leach copper project located in Miami, Arizona. A NI 43-101 Preliminary Economic Assessment Technical Report completed in 2015 reported a robust, after tax NPV and IRR and recommended completion of a preliminary feasibility study. The estimated resources for the Van Dyke project are set out below:

Resource Category Tonnes (Mt) Cu (%) Total Cu (lb) AS Copper (lbs)
Inferred  261.6 0.25     1,441,416,000           728,635,800

Mt=Million tonnes, (%) =percent, AS Copper=acid soluble copper, (lbs) =pounds, numbers are rounded pursuant to Best practice principals.  “Technical Report and Resource Estimation for the Van Dyke Copper Project”, dated January 30, 2015 prepared by Moose Mountain Technical Services, S. Bird, P. Eng and R. Lane, P. Geo as Qualified Persons; at 0.05% TCu cut off.

The initial 2019 results show 29% higher soluble copper concentration and thicker mineralized intervals as well as a significant number of mineralized intervals that are open ended compared to the original project data base.  These encouraging results strongly support additional work to surface the value of the project. The work planned for the balance of 2019; includes determining the extent of the soluble copper envelope for the Van Dyke deposit, increase certainty and confidence in the analytical data base, delineate the oxide and supergene boundary and re-logging of selected drill holes for lithological and structural information to update the geological model for the Van Dyke deposit is estimated to cost $135,000.

The analytical and the re-logging portions of the 2019 work program has been completed.  Analytical results are pending.  On receipt of the analytical results; Copper Fox will look at the possibility of updating resource estimate for this project. 

Copper Fox has a 100% working interest in the Sombrero Butte Laramide age porphyry copper project located in the Bunker Hill Mining District east of Mammoth, Arizona and approximately 2 kilometers south of the Copper Creek porphyry copper deposit. The property contains two main clusters of mineralized breccia pipes which elsewhere in the district overlie porphyry copper systems (i.e. Copper Creek deposit).  The mineralized breccia pipes are believed to be associated with one or more underlying porphyry copper systems.  Selected mineralized intervals from the breccia pipes drilled by Bell Resources between 2006 and 2008 drilling are as follows:

Pipe DDH From (m) To (m) Int. (m) Cu (%) Mo (%) Au (ppm) Ag (ppm)
Magna SB-02 280 356 76 0.61 0.007 tr 0.51
Campstool SB-03 466 492 26 1.19 0.013 0.08 4.83
Sunset SB-05 18 40 22 4.38 0.001 tr 5.03
    86 104 18 1.37 tr tr tr
Audacious SB-14 24 86 62 1.43 tr tr tr
Magna SB-23 276 306 30 0.68 0.001 tr tr
    306 358 52 0.82 0.004 0.03 0.69
    458 506 48 1.27 0.040 0.09 3.81

The mineralized intervals listed in the above table do not represent true widths, (m) = meters, (%) = percent, Cu = copper, Mo = molybdenum, Au = gold, Ag = silver, (ppm) = parts per million

In 2015, the induced polarization/resistivity survey combined with the 2006-2008 drilling results demonstrated that the cluster of mineralized breccia pipes located at the north end of the property correlate with a large chargeability anomaly at depth. The positive chargeability anomaly located at the south end of the property is hosted in the Copper Creek granodiorite; the host intrusive for the Copper Creek deposit and show a strong correlation to several historical mineralized drill holes.  The chargeability anomalies are located immediately east of a north-south trending regional scale fault system.  Two drill ready targets have been identified.  A mapping and sampling program to determine the extent and styles of mineralization and alteration exposed in outcrop over the chargeability anomalies estimated to cost $25,000 is planned for Sombrero Butte in 2019.

Copper Fox owns a 100% working interest in the Mineral Mountain Laramide age porphyry copper project located in the Mineral Mountain Mining District approximately 20 kilometers east of Florence, Arizona.  The project is located at the intersection of the Casa Grande-Miami-Globe mineral trend and a north-south trending Range Front Fault system.  Exploration to the end of 2018 have identified two large areas of porphyry style mineralization within the project. 

The largest area (Area #1) measures 4,500m long by up to 2,000m wide and is characterised by 3 large northeast trending zones of disseminated copper-molybdenum mineralization over printed by late stage, dominantly northeast with subordinate northwest trending quartz veins and fracture-controlled copper mineralization hosted in potassic and phyllic altered Laramide age Quartz Monzonite.  Abundant and widespread fracture-controlled chalcocite mineralization (up to 7 centimeters wide) believed to represent the supergene enrichment zone occurs throughout Area #1. 

 The second area (Area # 2) measures 2,800m long by 400m wide and is characterized by quartz vein and fracture-controlled copper mineralization hosted in Precambrian rocks and late Tertiary age dikes. 

To advance the project; a reconnaissance style Induced Polarization/Resistivity survey estimated to cost $120,000 to confirm the historical chargeability/resistivity anomaly in one of the porphyry targets and test both targets for the presence of sulphide mineralization at depth is required.

The mineralized areas exhibit different style of mineralization and metal concentrations (see table below):    



Average Concentration

Style of

Number of




















Quartz Vein














Cu = copper, Mo = molybdenum, Au = gold, Ag =silver, (%) = percent, ppm = parts per million, ppb = parts per billion the samples collected from the property are not necessarily representative of the mineralization on the property.

The Quartz Vein hosted mineralization in Area #1 and Area #2 exhibit significant geochemical differences; possibly due to depth of the source porphyry; see below:

Area Cu (ppm)  Cu (%) Mo (ppm) Mo (%) Au (ppb) Ag (ppm)
Area #1  9,621 0.962 80 0.008 143.9 17.6
Area #2  18,542 1.854 27 0.003 82.7 12.8

Cu = copper, Mo = molybdenum, Au = gold, Ag =silver, (%) = percent, ppm = parts per million, ppb = parts per billion. Number are rounded to reflect best practice principals.

Copper Fox owns 24.4% of the shares of District Copper Corp (formerly Carmax Mining Corp.) District own 100% of its recently acquired Stony Lake gold project located along the Cape Ray/Valentine Lake structural trend in central Newfoundland and 100% of the Eaglehead copper-molybdenum-gold project located in northwestern British Columbia.

District has commenced the Stony Lake summer program comprising mapping, prospecting and sampling as well as a project wide airborne aeromagnetic and radiometric survey.  The airborne survey is scheduled to commence in late June-early July. Large areas of altered and sulphide bearing rocks have been in the two targets tested to date. Nine targets are planned for preliminary exploration in 2019. Analytical results are pending.

In 2018, District Copper completed its program of re-logging, sampling or re-sampling of historical drill core from the Camp, Pass, Bornite and East zone to eliminate what are referred to as “legacy data issues” a feature common to long life mineral exploration projects. The 2018 analytical results did not materially change the previously reported analytical results for the drill holes worked on in 2019. The project has been placed on a care and maintenance basis