Copper Fox has five primary copper-gold assets at various stage of exploration or development located in mining friendly and geopolitical stable jurisdictions. Our projects are located in proven areas referred to as the "Golden Triangle" in British Columbia and in the "Laramide Copper Province" in Arizona; both of which host large copper-gold deposits or operating mines.
Three of Copper Fox's projects are supported by National Instrument 43-101 Technical Reports that have identified various categories of mineral resources and mineral reserves. The 2013 Feasibility Study on the Schaft Creek project has outlined approximately 940 million tonnes of Proven and Probable Reserves grading 0.27% copper, 0.19g/t gold, 0.018% molybdenum and 1.72g/t silver that would be exploited over a 21 year mine life.
Table-1 shows Copper Fox's share of copper-gold-molybdenum-silver outlined in the reserve and resource categories on all projects. The Technical Reports outlining the details of the reserve or resource estimations presented in terms or tonnes and grade can be found in either Copper Fox's corporate presentation or its website. The metal content outlined in the Proven and Probable Reserve (P+P) category and in the Measured and Indicated Resource (M+I) category is from the Schaft Creek project. The Inferred Resource (Inf) category is from the Schaft Creek, Van Dyke and Eaglehead projects.
Table-2 shows the metal content in the reserve and resource categories for Copper Fox's projects on which National Instrument 43-101 Technical Reports have been completed expressed in terms of copper equivalent and gold equivalent.
Copper Fox has used a combination of exploration and acquisitions to increase its metal ownership by approximately 100% over the past six years from approximately 3.2 billion pounds to approximately 6.6 billion pounds of copper equivalent. Each of the projects held by Copper Fox has the potential to either discover new zones of mineralization or add additional resources through exploration of known mineralized zones.
Table-1: Copper Fox share of metal contained in various reserve and resource categories.
|Resources2, 3, 4 (Inf)
1 & 2: 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 cut-off. Reserves reported at $6.60/tonne net smelter return (NSR) cut-off.
3: "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.
4: "Technical Report on the Eaglehead Cu-Mo-Au Project, British Columbia, Canada", dated June 29, 2012, prepared by Roscoe Postle Associates Inc., B. Donough, P.Geo and D. Rennie, P.Eng as Qualified Persons; at 0.16% CuEq cut-off.
Note: Above stated Proven and Probable reserves are included in the Measured and Indicated resources reported for the Schaft Creek Project. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Table-2: Copper Fox metal holdings expressed in terms of Copper Equivalent and Gold Equivalent
Notes to accompany estimation of copper equivalent and gold equivalent
|Measured & Indicated
CuEq based on copper content and 100% credit for other metals. AuEq based on Gold content plus 100% credit for other metals. Metal prices US$2.50/lb Cu, US$1,250.00/oz Au, US$9.00/lb Mo and US$16.00/oz Ag. Numbers are rounded to follow "Best Practice Principals"