Copper Fox Retains Stantec to Complete Strategic Review and Hydrology Characterization of Van Dyke Project
Calgary, October 1, 2024 - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE: HPU) ('Copper Fox' or the 'Company'), through its wholly owned subsidiary Desert Fox Van Dyke Co., is pleased to provide an update on its 100% owned Van Dyke in-situ copper recovery (ISCR) project located in the Globe-Miami Mining District, Gila County, Arizona.
The focus of the proposed work is three-fold: completion of a technical review and analysis of existing hydrogeological data; preparation of a Conceptual Site Model (CSM) and establishing hydrogeological and groundwater data collection requirements compliant with Federal and State regulations.
Elmer B. Stewart, President and CEO of Copper Fox stated, "We are pleased to have been able to retain Stantec Consulting Services Inc., ('Stantec') to provide a current assessment of the hydrogeology and establish the framework and procedures to advance this portion of the Van Dyke project. Completion of the CSM and ongoing addition of new hydrogeological data is an important step toward updating the hydrogeological model for the Van Dyke project; a critical step in advancing the project to the preliminary feasibility study (PFS) stage."
Scope of Program
The planned program consists of a review of three public databases and the historical hydrogeological models on the Van Dyke project. Baseline groundwater data collected from the previously established piezometer network at the Van Dyke project and surrounding areas will be used to advance the CSM. The CSM would be used to establish a plan for future data collection and characterize hydrological conditions.
Qualified Person
Elmer B. Stewart, MSc. P. Geol., President, and CEO of Copper Fox, is the Company's non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.
About Copper Fox
Copper Fox is a Tier 1 Canadian resource company focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 100% ownership of the Van Dyke oxide copper project located in Miami, AZ, the 100% interest in the Mineral Mountain and Sombrero Butte porphyry copper exploration projects located in Arizona, the 25% interest in the Schaft Creek Joint Venture with Teck Resources Ltd. on the Schaft Creek copper-gold-molybdenum-silver project and the 100% owned Eaglehead polymetallic porphyry copper project each located in northwestern British Columbia. For more information on Copper Fox's mineral properties and investments visit the Company's website at http://www.copperfoxmetals.com.
On behalf of the Board of Directors
Elmer B. Stewart
President and Chief Executive Officer
For additional information contact: Fidel Montegu at investor@copperfoxmetals.com or 1-844-464-2820
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and forward-looking information within the meaning of the Canadian securities laws (collectively, "forward-looking information"). Forward-looking information is identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "budgets," "could," "estimates," "expects," "forecasts," "projects," and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about; completion of a CSM; hydrogeological and groundwater sampling procedures; preparation of an updated hydrogeological model; and advancing the project to the PFS stage.
In connection with the forward-looking information contained in this news release, Copper Fox and its subsidiaries have made numerous assumptions regarding, among other things: completing the planned hydrogeologic program on time and within budget; the availability of service providers; the geological, metallurgical, engineering, financial and economic advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards; and the stability of economic and market conditions. While Copper Fox considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause Copper Fox's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include among others: completion of a CSM may not be completed as planned or at all; the hydrogeological and groundwater sampling procedures may not be established and may not comply with Federal or State regulations; preparation of an updated hydrogeological model may not occur as planned or at all; advancing the project to the PFS stage may not occur as planned or at all; the overall economy may deteriorate; uncertainty as to the availability and terms of future financing; fluctuations in commodity prices and demand; currency exchange rates; and uncertainty as to timely availability of permits and other governmental approvals.
A more complete discussion of the risks and uncertainties facing Copper Fox is disclosed in Copper Fox's continuous disclosure filings with Canadian securities regulatory authorities at www.sedarplus.ca. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Copper Fox disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.
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