Calgary, Alberta–(Newsfile Corp. – March 20, 2024) – Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (“Copper Fox” or the “Company”) will announce that its interim consolidated unaudited operations report of January 31, 2024, monetary statements were filed on SEDAR.
For the 3 months ended January 31, 2024, Cop consistent with Fox posted a loss of $230,877 (January 31, 2023 – $279,590), which equates to a loss of $0. 00 consistent with percentage (January 31, 2023 – loss of $0. 00 consistent with percentage).
During the 3 months ended January 31, 2024, the Company incurred $503,344 in exploration expenses primarily to continue the advance of Van (Miami, Arizona), Mineral Mountain (Mineral Mountain Mining District, Arizona), Sombrero Butte (Bunker Hill Mining District, AZ). Copper Projects and Eaglehead (Liard Mining District, BC). Copies of monetary statements, similar control notes and reports, and discussions and investigations on SEDAR in www. sedarplus. ca, may be obtained from the Company’s website at www. copperfoxmetals. All references to planned activities and technical data contained in this press release have been announced in the past through press releases. All amounts are in Canadian dollars unless otherwise noted.
Elmer B. Stewart, President and Chief Executive Officer of Copper Fox, stated, “During the quarter, we will focus on eliminating additional risks from the Van Project through Copper Fox and the Schaft Creek Project through the Schaft Creek Joint Venture (“SCJV”). SCJV completed the most comprehensive cash program completed to date and, at the end of the quarter, announced a program and budget of C$18. 7 million for 2024 to complete the studies necessary for the transition of the task from the scoping phase to the pre-feasibility phase. Study Phase (“PFS”) through expiration of 2024 or early 2025. The final touch of the well rehabilitation program at Van allows the Company to begin the collection of hydrogeological and water quality data, which is required to move forward with the license assignment. scenario.
First Quarter 2024 Highlights
At Schaft Creek (Liard Mining District, British Columbia), the Schaft Creek Joint Venture (“SCJV”) obtained the effects of the C$17. 2 million geotechnical drilling portion of the 2023 program. Drilling crossed significant periods of porphyry mineralization in five of the holes, adding DDH SCK-23-468, in the Paramount Zone, which intersected higher-grade mineralization:
a core period of 166. 40 m (295. 10 to 461. 50 m) averaging 0. 308% copper, 0. 019% molybdenum, 0. 117 g/t gold and 0. 82 g/t silver containing a period of 33. 68 m (427. 82 to 461. 50 m) averaging 0. 602% copper, 0. 033% molybdenum, 0. 228 g/t gold and 1. 28 g/t silver, and
A core period of 206. 14 m (481. 80 to 687. 94 m) containing 0. 494% copper, 0. 029% molybdenum, 0. 282 g/t gold and 1. 79 g/t silver containing a central period of 90. 70 m (481. 80 to 572. 50 m) that d 0. 710% copper, 0. 042% molybdenum, 0. 305 g/t gold and 2. 09 g/t silver.
At Millinal Mountain, the 2023 geophysical program highlighted a giant open positive chargeability/resistivity anomaly at an intensity of between three hundred and 500 m underlying the porphyry “footprint,” an environment of the Resolution buried copper porphyry deposit to the northeast and the Florence deposit to the southwest.
After the end of the quarter
Elmer B. Stewart, MSc. P. Geol. , President of Copper Fox, is the Company’s non-independent Qualified Person in accordance with the National Instrument 43-101 Mineral Project Disclosure Standards, and has reviewed and approved the clinical and technical data disclosed. In this press release.
Selected Financial Results
Liquidity
As of January 31, 2024, the Company’s monetary position was $934,007 (October 31, 2023 – $1,368,852).
About Copper Fox
Copper Fox is a leading Canadian resource company engaged in the exploration and development of copper in Canada and the United States. The main assets of Copper Fox and its wholly-owned subsidiaries in Canada and the United States, Northern Fox Copper Inc. and Desert Fox Copper Inc. , are the 25% interest in the Schaft Creek joint venture with Teck Resources Limited at the Schaft Creek copper mine. The gold, molybdenum and silver allocation located in northwestern British Columbia and the one hundred percent ownership of the Van oxidized copper allocation located in Miami. To learn more about Copper Fox’s other investments and mining properties, visit the company’s online page at www. copperfoxmetals. com.
On behalf of the Board of Directors,
Elmer B. StewartPresident & Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is found in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
In connection with the forward-looking data contained in this press release, Copper Fox and its subsidiaries have made assumptions regarding, among other things: the geological, monetary, and economic recommendation that Copper Fox earned is reliable and based on standard industry practices. and methodologies; estimates of mineral reserves and resources and the key assumptions and parameters on which those estimates are based are reasonable; the prices and effects of the planned exploration activities are as expected; and sound economic and market conditions. Although Copper Fox believes that these assumptions are reasonable, they are inherently subject to significant uncertainties and contingencies.
In addition, there are known and unknown threat points that may also cause Copper Fox’s actual results, functionalities, or achievements to be materially different from any long-term results, functionality, or achievements expressed or implied through any forward-looking information contained herein. . Known issues include that the 2024 paint systems might not be finished as planned, if at all; budgets might be underestimated; exploration permits may not be received; the collection of key knowledge may not provide the data needed to move to the authorisation stage; the overall economy may also simply deteriorate; uncertainty related to the availability and terms of long-term financing; copper prices and demand could fluctuate; exchange rates would likely fluctuate; the situation in the money markets is likely to deteriorate; the value of the Company’s common inventory may also decrease based on the value of any material collateral of the Company; and uncertainty related to the timely availability of entry permits and other government approvals.
A fuller discussion of the dangers and uncertainties facing Copper Fox is revealed in Copper Fox’s ongoing disclosure filings with the Canadian securities regulatory government in www. sedarplus. ca. All forward-looking data contained herein is qualified in its entirety through this cautionary statement, and Copper Fox disclaims any legal responsibility to revise or update such forward-looking data or to publicly announce the outcome of any revision of any forward-looking data contained herein to reflect results, long-term occasions or developments, as required by law. .
To view the source edition of this press release, https://www. newsfilecorp. com/release/202493