BRITISH COLUMBIA – Calgary-based COPPER FOX METALS has released a larger resource estimate for its Schaft Creek copper-molybdenum project 120 km southwest of Dease Lake. Happily the measured and indicated resources above a 0% Cu cutoff show an increase in contained metal of more than two times, compared with figures available in 2004.
Using a copper equivalent cutoff of 0.15%, measured and indicated resources total 1.8 billion t at 0.27% CuEq, and there are inferred resources of 311.0 million t at 0.18% CuEq. The deposit contains, in the measured and indicated categories using the same cutoff, 8.55 million lb of copper, 599,000 lb of molybdenum, 14.0 million oz of gold, and 197.9 million oz of silver. These estimates were based on an additional 12,000 m of
drilling in the 2005 and 2006 seasons to confirm the historical database.
Copper Fox envisions developing the Schaft Creek property as an open pit mine at a minimum mill capacity of 65,000 t/d over a minimum mine life of 15 years. The company believes the project could create up to 1,000 direct jobs during the construction phase and approximately 500 direct jobs during operation.
Full details are available at www.CopperFoxMetals.com.