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Mineral Mountain

Mineral Mountain is an early stage Laramide age porphyry copper exploration property covering 4,905 acres in the Mineral Mountain District, Pinal County, Arizona. Arizona is mining friendly; politically secure with excellent and readily accessible infrastructure.

Regional Setting:
The Mineral Mountain project is located in the same stuctural trend that hosts the Globe-Miami, Resolution, Florence and Casa Grande copper deposits (see table below). The project is located between the Florence and Resolution copper deposits.

District tonnes copper (%) contained copper (lb)
Globe-Miami 1,594,000,000 0.64 22,484,326,400
Resolution 1,624,000,000 1.47 52,615,651,200
Florence* 490,000,000 0.33 3,234,000,000
Casa Grande* 740,000,000 0.90 14,678,640,000

*In-Situ Leach ("ISL") project, only oxide portion of the deposit.

The porphyry copper deposits in the Globe-Miami & Resolution deposits are reported to contain significant concentrations of molybdenum. Laramide age intrusive rocks and their associated country rocks hots the majority of porphyry copper deposits in Arizona.

Geology:
The Mineral Mountain area is underlain by Pinal schist, diabase and granite of Precambrian age that have been intruded by Laramide age quartz monzonite, granodiorite and hornblende dacite dikes. The property is located within a three kilometer wide, north-south trending structurally complex zone with an extensive series of NNE and ENE (sinistral movement) faults cross cutting the property The majority of the structural features and mineralized fissures in the district and on the property are confined to this zone. The ENE structures commonly host Laramide age Hornblende dacite dikes.


Exploration Target:
The exploration completed by Copper Fox has located a large area of porphyry style copper-molybdenum-gold mineralization hosted on Laramide age granodiorite. Bedrock sampling in 2015 and 2016 outlined a 1,100m by 900m area of copper-molybdenum-gold porphyry style mineralization. A significant number of samples from the mineralized area contained between 1% and up to 6.6% copper (due to the presence of chalcocite and covellite). The mineralization occurs in steeply dipping classical "A" veins with potassic +/- chlorite +/- hematite envelopes and exhibits a rhenium-tellurium-bismuth geochemical association. The vein-controlled mineralization exhibits three prominent trends being 010W to 015NE (gold rich), 045NE to 060NE, and 070NE to 080NE.

In 2018, re-smpling of a series of trenches (see news rleases dated April 30, 2018 and May 29, 2018) completed in the 1970's confirmed that the mineralized area outlined in 2016 represents the surface expression (referred to as a Leach Cap) of a leached porphyry copper system. Leach Cap are typically associated with porphyry copper deposits in Arizona.

The data suggests that the Leach Cap resulted from the weathering of a low pyrite content, chalcopyrite, bornite style of primary copper porphyry style minerlization. Incomplete leaching of the bedrock; results in variable copper concentrations and intervals of higher overall average copper content within the Leach Cap. The analytical results from the trenching located a number of mineralized intervals with copper ranging from 1,000 ppm (0.1%) to 7,890ppm (0.79%) and molybdenum ranging from 72 ppm (0.007%) to 209 ppm (0.02%) as well as elevated concentrations of gold.

Trench D contains a 12 meter long zone that averaged 0.38% copper and 0.007% molybdenum and trench O returned two 3.0 meter samples containing 103 ppm (0.01%) and 109 ppm (0.01%) molybdenum. The higher grade zones of mineralization distributed throughout the Leach Cap could possibly represent the primary metal concentrations in the porphyry system prior to weathering. The trace element geochemistry indicates that the mineralized zone is located within the dep sericitic alteration phase (above the copper shell) of a porphyry system.

Chalcocite, chrysocolla and malachite along with rare chalcopyrite and covellite are the main copper minerals within the Leach Cap. The presence of the chalcocite and covellite indicates the possibility of a "chalcocite blanket" at depth. Gangue minerals are goethite after pyrite (forming box work texture) and jarosite.

The Leach Cap mineralized area is characterized by potassic alteration (potassic envelpes, secondary biotite) and is restricted to Laramide age rocks. The phyllic zone (quartz-sericite +/- pyrite) surrounds and overlaps the potassic zone and is terminated to the north by a prominent, northwest trending district scale structure. Mineralized outcrops exhibiting porphyry style mineralization occur over an area of 2.5 kms by 1.1 kms within the phyllic zone. Propylitic alteration (hematite-epidote-late stage epidote veining) is not mineralized, surrounds the phyllic alteration and is of regional extent.

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