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| Key Highlights Overview Resource Estimate Schaft Creek Option History Geology & Technical Reports Tahltan Nation Public Participation Environmental Assessment Mine Development Process 3D and Cross Sections |
3D model:
Cross Sections: Overview of Schaft Creek ProjectLocation: The Schaft Creek Project is a porphyry copper-gold-molybdenum deposit situated 45 kilometers west of the Stewart-Cassiar Highway in northwestern British Columbia. The project area covers 20,932 hectares within a world-class mineral district hosting several porphyry copper-gold deposits.History: The Schaft Creek Project was extensively explored and drilled by several mining companies from the 1960s through early 1980s, culminating with a pre-feasibility study by Teck Corp. (now Teck Cominco). Copper Fox Metals secured rights to acquire up to a 93.4% interest in the project pursuant to an Option Agreement with Teck Cominco and related underlying agreements. The Company has since earned a 70% direct interest in the project through required expenditures of $15 million and can acquire a 23.4% indirect interest on delivery of a positive feasibility study. At this stage, Teck Cominco may exercise back-in rights to acquire interests in the project in order to participate in mine development with Copper Fox Metals. Current Status and Resources: Recent drilling programs by Copper Fox Metals have expanded and upgraded measured and indicated resources to 1.4 billion tonnes containing 7.7 billion pounds of copper, 8.1 million ounces of gold, 69.4 million ounces of silver, and 584 million pounds of molybdenum. The project has additional inferred resources and excellent potential to expand resources by ongoing drilling. The project has advanced to the stage where scoping and pre-feasibility studies are warranted to examine a potential open-pit mine with a projected daily milling rate of 100,000 tonnes and a mine life of more than 35 years. The Company's goals are to advance Schaft Creek to production in an environmentally and socially progressive manner and become a significant minerals producer by 2011. Key Highlights:
The porphyry copper deposit at Schaft Creek comprises a large 'porphyry copper' resource. A National Instrument 43-101 report by Associated Geoscientists Ltd. dated June 22,2007 indicate mine and mill recoveries of 91% for Copper, 63% for Molybdenum, 76% for Gold and 80% for silver. 2006 Highlights:
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Resource Estimate
Copper Fox Metals reported an independent National Instrument 43-101 compliant resource calculation prepared by Associated Geosciences Ltd. (AGL) dated June 22, 2007 on the resources for the Schaft Creek deposit.
The measured and indicated resources at Schaft Creek include 1,393 billion tonnes including 7.7 billion pounds Copper, 8.1 million ounces Gold, 584 million pounds Molybdenum and 69.4 million ounces Silver at 0.2% Copper Equivalent cutoff. The 0.55% Copper Equivalent Cutoff indicates that a significant volume of higher-grade mineralization occurs in the deposit. A 0.35% Copper Equivalent has also been included to compare to the historical resource reported by AMCL and by Giroux and Ostensoe.
Schaft Creek Option
Copper Fox has an option agreement dated January 1, 2002 to:
- Acquire 100% of Teck Cominco's 'Direct Holding', defined as a 70% direct participating interest in the Schaft Creek Property, by:
- Incurring $5,000,000 in expenditures on or before December 31, 2006 and aggregate expenditures of $15,000.000 on or before December 31, 2011.
- Further acquire Teck Cominco's 'Indirect Holding' (defined as an indirect 23.4% carried interest through its 78% shareholding in Liard Copper Mines Ltd. who hold a 30% carried interest in the property) by incurring the above described $5,000,000 in expenditures and completing and delivering to Teck Cominco a positive bankable feasibility study.
If Copper Fox delivers a feasibility notice to Teck Cominco prior to completing the $15,000,000 in expenditures, Copper Fox will be deemed to have exercised the option as to Teck Cominco's Direct Holding in addition to having acquired the Indirect Holding.
- The option agreement has a time-limited back-in right exercisable by Teck Cominco within up to 120 days of the delivery of the positive feasibility study. If the back-in right is not exercised, and at Teck Cominco's option, CFM shall grant Teck Cominco a 1% net smelter royalty or, if CFM has assigned the option agreement to a public company whose shares are listed on a recognized stock exchange, shares of that company having a value of $1,000,000.
If Teck Cominco wishes to exercise its back-in right, it may earn;
- a 20% interest by matching prior incurred expenditures, or it may earn;
- a 40% interest by matching three times prior incurred expenditures, or it may earn
- a 75% interest by incurring four times prior expenditures and arranging all production financing.
The option agreement includes provisions for joint management and for dilution of interests in proportion to expenditures, including reversion of either party to a defined net profits royalty if that party's interest is diluted below a 20% working interest in the joint venture.
History
The Schaft Creek copper-gold-molybdenum-silver prospect was located in 1957 by prospector Nick Bird while employed by the BIK Syndicate. Three diamond drill holes were drilled to moderate depths. Cores from two holes, when sampled, returned sufficient copper values to encourage further work. The prospecting syndicate was re-organized in 1966 into Liard Copper Mines Ltd. (" Liard") with Silver Standard Mines Limited, holding a 66% interest, acting as the manager. In 1966, ASARCO obtained an option to explore the Liard Copper Mines Ltd. ground, carried out geological and induced polarization surveys and drilled 10,939 feet (3,335 metres) in 24 holes. The option was not maintained despite encouraging drill results and in 1968 Hecla, a subsidiary of Hecla Mining Company of Wallace, Idaho, entered an option agreement to earn a 75% property interest and commenced drilling and other exploration work with Hecla operating company as its agent.
Hecla, in the period 1968 through 1977, completed 34,500 metres of diamond drilling, 6,500 metres of percussion drilling, induced polarization and resistivity surveys, geological mapping, air photography, and engineering studies related to the development of a large open pit copper-gold-molybdenum mine. Property work ceased in 1977 and in 1978 Hecla sold its interest to Teck Corporation ("Teck") (now Teck Cominco Limited).
In 1980 Teck commenced a program of exploration and drilling designed to confirm and expand Hecla's work. A total of 26,000 metres of diamond drilling was completed by 1981. Teck then undertook an engineering study to determine the feasibility of mine development. Further data reviews were completed by Western Copper Holdings in 1988 and Teck in 1993. A total of 230 core holes with total length 60,200 metres and percussion holes with total length 6,500 metres were completed prior to Copper Fox acquiring an option on the property in 2002.
Geology & Technical Reports
December 7, 2007 Preliminary Economic assessment study (PEA) - Executive Summary
December 7, 2007 Canadian NI43-101 Technical Report - Preliminary Economic Assessment on the Development of the Schaft Creek Project Located in Northwest British Columbia, Canada
June 22, 2007 AGL Updated Resource Estimate for Schaft Creek
March 19, 2007 Diamond Drill Report
September 14, 2005 Study
May 15, 2004 Study
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Engineering Reports
Giroux Consultants Ltd.
May 20, 2004 - The report "Summary Report -- Status and Resource Estimate, Schaft Creek Property, N.W. British Columbia", was prepared to:
- summarize the exploration history and technical aspects of the subject property
- present a discussion of the mineral resource that has been identified, complete with consideration of the reliability of that resource calculation, and
- suggest a program of work that would improve the metallurgical understanding, study the economics of the project and improve the confidence of drill hole information.
Associated Mining Consultants Ltd.
September 20, 2004 - (AMCL) and HATCH(tm) conducted a preliminary assessment (Scoping Study) of the viability of the Schaft Creek project. AMCL is the Project Manager for this study.
Click here to view the full PDF file (4.5 MB).
Terms of Reference for the 2008-2009 Copper Fox Bursary click here
Tahltan Nation
Memorandum of Understanding with TNDCCopper Fox has signed Memorandum of Understanding with the Tahltan Nation Development Corporation which defines the scope of work, program commitments, cooperation, and communication that Copper Fox will follow at Schaft Creek and recognizes that TNDC will be a "preferred contractor". This agreement includes commitments regarding contracting and sub contracting opportunities for Tahltan businesses and employment and training opportunities for all members of the Tahltan Nation. The Tahltan Nation Development Corporation (TNDC) is the economic arm of the Tahltan Nation and generates wealth, economic, employment and training opportunities for all members of the Tahltan Nation.
Click here to read the Memorandum of Understanding.
$75 000 Scholarship
Copper Fox Metals and the Tahltan Central Council, on behalf of the Tahltan Nation including the Tahltan Band and the Iskut First Nation are offering a merit-based scholarship to a Tahltan First Nation student planning to attend the University of Alberta to study in one of following programs: Education, Nursing, Medicine, Physiotherapy, Nutrition, Law, Engineering, Geology, Agriculture, Social Work or Native Studies.
The Copper Fox Scholarship is a new undergraduate program for students attending the University of Alberta. The scholarship will be provided over five years max ($15,000 per year). The Copper Fox Scholarship covers tuition, regular student fees and books for students studying at the University of Alberta for up to five years. Continued support under this program depends upon maintenance of satisfactory academic standing and enrollment in a full time program that will lead to an undergraduate degree.
Copper Fox Metals is the sole contributor to the fund. Award winners are selected on the basis of academic performance, career goals, brief biography, role model qualities, and volunteer and leadership contributions to their community. Academic performance, residency and career interest are considered in the selection process. Applicants who wish to pursue a career in the mining industry and traditional studies are favoured.
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Public Participation
Copper Fox is committed to working with community members, stakeholders and the Tahltan Nation to develop an economically, environmentally and socially responsible project. The Project is communicated via open houses, public meetings, brochures and factsheets. For more information on the Project please select from the factsheets below.
The next open houses are scheduled for:
April 2 - Kitimat
April 3 - Stewart
April 7 - Dease Lake
April 8 - Telegraph Creek
April 9 - Iskut
For more information please see the flyer.
- Open House Schedule (PDF)
For more information on the Project or how to become involved please contact:
Mr. Shane Uren, VP Environment and Permitting
info@copperfoxmetals.com
604 689 5080
Click on the PDF to view the posters:
- The Environmental Assessment Process and Public Involvement (PDF)
- Schaft Creek Project Description (PDF)
- Schaft Creek Environmental and Social Baseline Studies (PDF)
- Schaft Creek Environmental and Social Baseline Studies (2) (PDF)
- Schaft Creek Project Description (PDF)
Environmental Assessment:
Schaft Creek environmental and socio-economic baseline studies began in October 2005 and are ongoing. Baseline studies completed in 2006 included wildlife (moose, goats and bird studies), water quality, aquatic biology, fisheries, hydrology, meteorology, archaeology and metal leaching and acid rock drainage (ML/ARD). The results of the 2006 studies were reviewed by federal and provincial regulators and the Tahltan Nation. The scope of work for the 2007 environmental and socio-economic baseline studies was increased significantly and was aimed at fulfilling requirements of both a federal and provincial environmental assessment process and the specific studies requested by the Tahltan Nation. The work and scope of the 2007 environmental and socio-economic baseline studies were presented and approved by government authorities and the Tahltan Nation. The 2007 baseline reports are available below.
Copper Fox has developed environmental and social baseline work plans for 2008, see below. These programs will be presented to the Tahltan Nation and federal and provincial regulators for review. These reports will be finalized in the third quarter of 2008. The anticipated completion date of the application for an environmental assessment certificate is the fourth quarter 2008.
Click Here to view the Schaft Creek Project Description Report - February 2008
2008 Reports
Schaft Creek Alternatives Assessment Report, July 2008 (pdf - 22.5mb)
Schaft Creek Project - ML-ARD Presentation for the Proposed Access Road, May 2008 (pdf - 4.7mb)
Schaft Creek Project - ML-ARD Presentation for the Proposed Minesite, May 2008 (pdf - 370kb)
Final Presentations - April 22 & 23, 2008 (zip - 227mb) - Right Click Link to Download
Schaft Creek Project ML-ARD Phase 2 Report, February 2008 (pdf - 1.7mb)
Schaft Creek Project ML-ARD Assessment of Surficial Samples from the Proposed Access Road, February 2008 (pdf - 5mb)
Schaft Creek Project 2008 Environmental and Social Work Plans (pdf - 13.8mb)
Schaft Creek Geohazard Tailings Options - February 2008 (pdf - 4.6mb)
Schaft Creek Tailings Assessment Engineering (VA08-00390) - February 2008 (pdf - 16.4mb)
Schaft Creek Access Route Geohazards - March 2008 (pdf - 3.75mb)
Schaft Creek Access Road Assessment Tahltan Highland - March 2008 (pdf - 1.3mb)
Schaft Creek Tailings Water Management Assessment - March 2008 (pdf - 696kb)
2007 Reports
Metal Leaching - Acid Rock Drainage Phase 1 Report (pdf - 1mb)
Schaft Creek Project 2007 Aquatic Resources Baseline Report (pdf - 136mb)
Schaft Creek Project 2007 Archeological Baseline Study Technical Summary (pdf - 3.3mb)
Schaft Creek Project 2007 Meteorology Baseline Report (pdf - 6.1mb)
Schaft Creek Project 2007 Bat Inventory (pdf - 4mb)
Schaft Creek Project 2007 Country Foods Baseline Assessment (pdf - 5.5mb)
Schaft Creek Project 2007 Preliminary Groundwater Baseline Report (pdf - 9.2mb)
Schaft Creek Project 2007 Noise Baseline Report (pdf - 4.1mb)
Schaft Creek Project 2007 Soils Baseline Report (pdf - 7.5mb)
Schaft Creek Project 2007 Vegetation Baseline Report (pdf - 2.5mb)
Schaft Creek Project 2007 Western Toad Baseline (pdf - 5.7mb)
Schaft Creek Project 2007 Hydrology Baseline (pdf - 86.7mb)
Schaft Creek Project 2007 Fisheries Baseline (pdf - 129mb)
Schaft Creek Project 2007 Tahltan (Country) Foods Baseline Assessment (pdf - 8mb)
Schaft Creek Access Road Assessment - October 2007 (pdf - 1.7mb)
B.1 Schaft Creek Project 2007 - Wetlands Baseline Report (pdf - 30.2mb)
2006 Baseline Reports
Schaft Creek Project 2006 Hydrology Baseline Report (pdf - 7.87mb)
Schaft Creek Project 2006 Moose Baseline Report (pdf - 7.82mb)
Schaft Creek Project 2006 Bird Study (pdf - 5.85mb)
Schaft Creek Project 2006 Meteorology Baseline Report (pdf - 10.84mb)
Schaft Creek Project 2006 Fisheries Baseline Report (pdf - 18.81mb)
Schaft Creek Project 2006 Aquatics Baseline Report (pdf - 61.00mb)Previous. All pages. Next. Page 1. Page 2
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