SCHAFT CREEK PROPERTY JV
- The Schaft Creek project is managed through the Schaft Creek Joint Venture (SCJV), Copper Fox holds a 25% interest while Teck Resources Limited is the operator and holds 75% interest.
- Schaft Creek comprises 56,180 hectares and is one of the largest undeveloped porphyry copper-gold-molybdenum-silver deposits in North Amercia, located in an area of NW British Columbia referred to as the “Golden Triangle”.
- Three main zones of porphyry mineralization have been identified and contain significant quantities of copper, gold, molybdenum and silver. In 2017 and 2018 the SCJV completed a Resources Model update.
RESERVES & RESOURCES
In the mineral resource business successful exploration results in establishing either a “maiden” or “updated” mineral resource statement for a project. Copper Fox projects where mineral resources have been established are:
- 25% carried interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia.
- 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona.
Resource Statement
Schaft Creek Project:
| Category | Tonnes (Mt) | Cu (%) | Au (gt) | Mo(%) | Ag (g/t) | Cu (Blb) | Gold (Moz) | Mo (Mlb) | Ag (Moz) |
|---|---|---|---|---|---|---|---|---|---|
| Measured (M) | 176.4 | 0.32 | 0.22 | 0.018 | 1.46 | 1.26 | 1.28 | 71.03 | 8.26 |
| Indicated (I) | 1,169.1 | 0.25 | 0.15 | 0.017 | 1.22 | 6.50 | 5.69 | 439.56 | 46.00 |
| M & I | 1,345.5 | 0.26 | 0.16 | 0.017 | 1.25 | 7.76 | 6.97 | 510.59 | 54.26 |
| Inferred | 343.6 | 0.17 | 0.11 | 0.013 | 0.84 | 1.30 | 1.18 | 95.50 | 9.28 |
Cu=copper, Au=gold, Mo=molybdenum, Ag=silver, Mt=millions of tonnes, Blb=billions of pounds, Mlb=millions of pounds, Moz=millions of ounces. Mineral Resources are reported using the 2014 CIM Definition Standards. Mineral Resources are reported within a conceptual contraining pit shell that includes the following input parameters: Metal prices of $3/lb Cu, $1,200/Au, $10/lb Mo, $20/oz Ag, and pit slope angles that vary from 40-44°, metal prices are in US$. Metallurgical recoveries reflective of prior test work that averages: 86.6% Cu, 73.0% Au, 58.8% Mo, 48.3% Ag. Mineral Resources are reported using a net smelter return (“NSR”) cut-off of US$4.31/t. Tonnes are metric tonnes, with Cu and Mo grades as percentages and Au and Ag grades as gram per tonne units. Cu and Mo metal content is reported in lb and Au and Ag content is reported in troy oz. Totals and Metal content may not sum due to rounding and significant digits used in calculations. Resources for Schaft Creek project reported on 100% basis.
Schaft Creek - British Columbia, Canada
- The Schaft Creek project is managed through the Schaft Creek Joint Venture (SCJV), Copper Fox holds a 25% interest while Teck Resources Limited is the operator and holds 75% interest.
- Schaft Creek comprises 56,180 hectares and is one of the largest undeveloped porphyry copper-gold-molybdenum-silver deposits in North Amercia, located in an area of NW British Columbia referred to as the “Golden Triangle”.
- Three main zones of porphyry mineralization have been identified and contain significant quantities of copper, gold, molybdenum and silver. In 2017 and 2018 the SCJV completed a Resources Model update.