Northern Fox Copper Inc., a wholly owned subsidiary of Copper Fox Metals Inc., owns 45% of the issued and outstanding shares of Carmax Mining Corp. ("Carmax"). Carmax owns 100% working interest in the Eaglehead copper-gold-molybdenum project covering 13,540 hectares in the Liard Mining Division of British Columbia. Approximately 36,000m of drilling has been completed on the Eaglehead project over the past 50 years.
The Eaglehead deposit is hosted in moderate to strong potassic, phyllic and mixed potassic-phyllic altered biotite granodiorite, hornblende quartz diorite and Quartz Feldspar porphyry dikes. Chalcopyrite +/- bornite along with significant concentration of gold-molybdenum-silver occur in fractures, veinlets, disseminations and in hydrothermal breccia. The hydrothermal breccia are characterized by higher grade copper mineralization primarily due to bornite and late stage intense potassic alteration.
Between 2014 and 2016, Copper Fox completed a series of private placements in Carmax. These funds were used to complete the re-logging, sampling and re-sampling of 61 historical drill holes, airborne and ground geophysical surveys, preliminary rock characterization testwork and six diamond drill holes (3,413m) to test the continuity of the copper-molybdenum-gold mineralization in the East and Bornite zones. Since 2014, Carmax has re-analyzed approximately 15,000 pulp and core samples to standardize the analytical data base.
Representative mineralized intervals from the various zone located within the property are set out below.
Preliminary Metallurgical Testwork
In 2015 and 2016; preliminary rock characterization ("metallurgical") testwork was completed on a number of mineralized lithologies over a range of copper grades from the Bornite-Pass-East zones of the Eaglehead project.
The testwork yielded Bond Ball Mill Work Index (BWI) indices that ranged from 16.9 to 20.6 kWh/t with an average of 18.6 kWh/t and Bond Abrasion Index (AI) indices that ranged from 0.211 g to 0.554 g with an average Ai of 0.381 g.
Locked cycle tests showed that all samples responded well to conventional copper-molybdenite flotation. Four stages of roughing, followed by regrind and three stages of cleaning with a primary grind size K80 of approximately 150 μm and a regrind size K80 of 21 μm was used. The final copper/molybdenite bulk concentrate assayed 29.6% Cu, 2.72% Mo, 28.2 g/t Au, and 175.9 g/t Ag with recoveries of 89.9% copper, 71.1% molybdenite, 78.6% gold, and 78.1% silver and low concentrations of arsenic, selenium and tin.
In 2017, Copper Fox prepared a NI 43-101 Technical Report on the Eaglehead property entitled "NI 43-101 Technical Report on the Eaglehead Project" with an Effective Date of July 10, 2017; Robert A. (Bob) Lane, M.Sc., P.Geo. as Qualified Person. The conclusions and recommendations of the Technical Report are summarized below.
The Project is at the early to intermediate stage of exploration and hosts a calc-alkalic porphyry copper-molybdenum-gold-silver system of significance.
A multi-parameter exploration program estimated to cost $4.95 million is warranted to more fully evaluate the potential of the Project to host an economic calc-alkalic porphyry Cu-Mo-Au-Ag deposit.
The proposed recommended exploration program includes among other activities 11,000m of drilling, preliminary metallurgical testwork and geophysical surveys.
Six zones of copper-molybdenum-gold-silver mineralization occur within a prospective, mineralized corridor (0.5-1.5km in width and in excess of 8km long) characterized by:
- a belt of moderate magnetic response with small, irregular-shaped moderate-to-high magnetic features that coincides with the western margin of the Eaglehead pluton;
- a 10km long, semi-continuous copper soil geochemical anomaly;
- a 6km long, open-ended chargeability-high anomaly, within which five zones of copper-molybdenum-gold-silver mineralization are located. This anomaly averages 900m wide and is open below a depth of 500m;
- a Far East zone, located approximately 3,000m from the end of the chargeability anomaly, exhibits several mineralized drill holes and a 1,000m by 1,000m copper and molybdenum soil geochemical anomaly;
- moderate-to-intense potassic (principally K-feldspar), pervasive phyllic (sericitic) and late propylitic alteration of the mineralized intrusive host rocks;
- multiple phases of mineralization, consisting primarily of chalcopyrite and bornite with minor molybdenite in quartz veins, quartz stockworks, and zones of fracturing and brecciation; and
- drilling has intersected good grades of copper-molybdenum-gold-silver over narrow-to-wide intervals (ranging from 1.5 to 521.2m) in 120 of 126 holes completed to-date