Copper Fox holds various working interest in four properties and a 45% equity interest in Carmax Mining Corp.:
25% carried interest in the Schaft Creek Joint Venture with Teck Resources Limited ('Teck') on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia. A NI 43-101 Technical Report was completed on this project in 2013. In 2017, the Schaft Creek Joint Venture updated the resource model for the Schaft Creek deposit, incorporating the work completed by Teck since 2013 at Schaft Creek. The remodeling work found no material change to the 2012 Resource Estimate included in the 2013 Feasibility Study on the Schaft Creek project and that the 2013 Schaft Creek Feasibility Study remains current. The main component of the 2018 program includes taking a multi-path approach to the project by investigating various sizing scenarios with the objective of adding value to the Schaft Creek project. This work includes investigating the potential of a phased approach as an alternative to the approach adopted in the 2013 Feasibility Study completed by Copper Fox. If upon completion of the desktop studies the SCJV concludes that there is the potential to materially change project economics, the SCJV will assess the timing and scope of further studies and a NI 43-101 Technical Report if warranted.
100% ownership of the Van Dyke oxide copper In-Situ Leach project located in Miami, Arizona. A NI 43-101 Preliminary Economic Assessment Technical Report was completed on this project in 2015. The study forecast a robust after tax NPV and IRR and completion of a Preliminary Feasibility Study was recommended. The project is currently on a 'care and maintenance' status while the company evaluates its options for the project.
100% ownership of the Sombrero Butte copper project located east of Mammoth, Arizona. Copper Fox has not completed a NI 43-101 Technical Report on this project. Two drill ready targets have been delineated. A significant number of mineralized breccia pipes have been located on the property that correlate with large chargeability anomalies at depth.
100% ownership of the Mineral Mountain copper project located east of Florence, Arizona. Copper Fox has not completed a NI 43-101 Technical Report on this project. A large (1,100m by 900m) zone of copper-molybdenum-gold-silver mineralization located withing a regional scale phyllic alteration 'footprint' was delineated in 2016. A recently completed trench re-sampling program demonstrated continuity of the mineralization between the outcrop samples collected in 2016 and additional zones of porphyry style mineralization.
The data supports the interpretation of a 'Leach Cap', a feature common to porphyry deposits in Arizona which represents the surface expression of a porphyry deposit that have been subjected to weathering and re-concentration of the mineralization at depth.
Copper Fox owns 45% of the shares of Carmax Mining Corp. who in turn own 100% of the Eaglehead copper-molybdenum-gold project located in northwestern British Columbia. Copper Fox completed a NI 43-101 Technical Report on this project in 2017 that concluded the Project is at the early to intermediate stage of exploration and hosts a calc-alkalic porphyry copper-molybdenum-gold-silver system of significance. In addition to the five zones of porphyry style mineralization that are open to extension, two large, previously unexplored exploration targets have been identified. The Technical Report recommended that a multi-parameter exploration program, estimated to cost $4.95 million, is warranted to more fully evaluate the potential of the project.