Copper Fox provides an update of Corporate Activities
Calgary, February 11, 2009, Copper Fox Metals Inc. (CUU-TSX-V, CPFXF-S/P) is pleased to provide a Technical and Financial update of Corporate Activities developments.
Copper Fox announces the assay results for the remaining 30 drill holes from its 53 hole diamond drilling program at Schaft Creek during the 2008 season.”The Company is pleased with the results from the drilling within the Liard (Main) and Paramount Zones. In the Liard (Main) Zone, drill hole 08CF341 tested an area of the designed pit previously considered to be waste material and extended mineralization eastwards by at least 150 metres. This hole was stopped at a drill-capacity depth of 542.39 metres in mineralization. Drill hole 08CF347 intersected 459.0 metres of mineralization with a copper equivalent grade of 0.50% CuEq and included a 35.05 metre interval that assayed 0.693% copper, 0.022% molybdenum, 0.892 g/t gold and 3.35 g/t silver from 4.05 metres. In the Paramount Zone, the historical higher grades reported by Hecla and Teck and the continuity of mineralization have been confirmed. The results from these diamond drill holes considerably expand the potential size of what already is a world class mineral deposit”, says Guillermo Salazar, President and CEO of Copper Fox Metals.
The 2008 drilling program was designed to complete the geotechnical, hydro-geological and pit slope stability study of areas within the proposed 100,000 tonnes per day copper-gold-molybdenum open pit mine at Schaft Creek. This pit was designed by Samuel Engineering, Inc., Knight Piésold Ltd. and Moose Mountain Technical Services and is included in the Preliminary Feasibility Study released September 15, 2008. Additional objectives of the drilling were to decrease the spacing between drill holes in areas of the Paramount Zone. The results from this program considerably expand the potential size of the Schaft Creek mineral deposit and represent a major achievement in moving the project towards production.
Fourteen of these holes were drilled within the known limits of the Liard and Paramount ore bodies while sixteen were drilled outside these areas, primarily in what were considered candidate sites for waste and tailings disposal. Two holes extended mineralization beyond the known limits of the deposit. Highlights from this drilling program are contained in Table No.1 below.
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