I see the new info more and more we I go threw theses head lines.

Copper Fox says Schaft Creek feasibility study in final stages, announces airborne survey results

Tuesday, 25 September 2012 (1 day ago)

Copper Fox Metals (CVE:CUU) Tuesday said that the feasibility study on the Schaft Creek copper-gold-molybdenum-silver project in British Columbia is in its final stages, marking “the most significant event” at the company in eight years.

The company said that the mine plan for the Schaft Creek project, located in northwest British Columbia, is complete and will be used to complete the economic analyses and project sensitivity.

All other aspects of the feasibility study are also complete and will be peer reviewed by Merit Consultants International Inc., said Copper Fox, adding that it will be performing its own internal review of the study.

Once these processes are complete, the company said results will be announced publically. The feasibility study for the project is being led by Tetra Tech Wardrop, on a minimum 120,000 tonne per day open pit mine.

“It is evident the company is at the final stages of completing this important report, that being said, the company will diligently perform its internal review process to ensure completeness and accuracy and that the final report appropriately reflects the economic potential of the Schaft Creek resource,” said president and CEO Elmer Stewart.

“The completion of this feasibility study is the most significant event to occur in the company in its eight year history.”

Copper Fox also announced Tuesday the re-interpretation results of airborne surveys over the Schaft Creek mineral properties in 2011 and 2012.

The company said the purpose of the re-interpretation was to complete a geophysical characterization of the mineralization in the Schaft Creek deposit in order to identify similar targets along strike within the Schaft Creek mineral trend and on other parts of the project.

Notable results from the surveys showed that the mineralization in the Schaft Creek deposit is characterized by low to high chargeability and weak to moderate magnetic intensity, said Copper Fox.

Additionally, it said the untested chargeability signature associated with the copper mineralization in the Paramount zone has a strike length of 500 metres, extends to the East for an additional 300 metres under Mount LaCasse, and represents a “primary drill target”.

Copper Fox also noted that a wide zone of low to moderate chargeability extends from the north end of the Paramount zone for a distance of 3.5 kilometres to the north-northwest encompassing the Mike zone, Discovery zone and the south end of the ES zone.

The company said that drill results, from the 2012 drilling program announced early this month, are located within the Discovery zone.

These included drill hole CF427-2012, which intersected 0.625 per cent copper, 0.59 grams per tonne (g/t) gold, 2.02 g/t silver and 0.006 per cent molybdenum, or 1.01 per cent copper equivalent, over a core length of 47 metres.

Copper Fox is a Canadian resource development company focused on the development of the Schaft Creek copper-gold-molybdenum-silver deposit.

Schaft Creek is one of the largest undeveloped copper, gold, molybdenum and silver deposits in North America, according to the company.

In May, Copper Fox unveiled an updated resource estimate for the Schaft Creek deposit, including the Paramount and Liard zones.

The combined measured and indicated resource was 1.23 billion tonnes grading 0.26 per cent copper, 0.017 per cent molybdenum, 0.19 g/t gold and 1.69 g/t silver containing 7.11 billion pounds copper, 455.3 million pounds molybdenum, 7.37 million ounces gold and 66.74 million ounces silver.

The inferred resource was 597.2 million tonnes grading 0.22 per cent copper, 0.016 per cent molybdenum, 0.17 g/t gold and 1.65 g/t silver containing 2.87 billion pounds copper, 206.3 million pounds molybdenum, 3.36 million ounces gold and 31.60 million ounces silver.

Earlier this month, Copper Fox closed the purchase of the Sombrero Butte property in Pinal County, Arizona from Bell Copper Corp.

The company also acquired all the Bureau of Land Management lode claims, which are next to Bell Copper's interests in the Van Dyke copper deposit in Miami, Arizona.

Highlights of the deal, which was initially announced in July, include a historical resource of 112 million tonnes with an average grade of 0.52 per cent copper, estimated to contain 1.2 billion pounds of copper at the Van Dyke deposit.