- Copper Fox Metals (CUU) released the results of an early-stage biological evaluation of the Van Dyke project
- Van Dyke is an in-situ copper recovery (‘ISCR’) project, located in the Tier 1 mining jurisdiction of Arizona
- A 2021 Preliminary Economic Assessment concluded that the project has the potential to become a mid-tier copper mine producing in the order of 38 million kg of copper per year
- Copper Fox Metals Inc. (CUU) is trading steady at C$0.22 as of noon ET
Copper Fox Metals (CUU) released the results of an early-stage biological evaluation of the Van Dyke project.
Van Dyke is an in-situ copper recovery (‘ISCR’) project located in Arizona’s Tier 1 mining jurisdiction.
The evaluation was prepared by WestLand Engineering & Environmental Services out of Tucson.
A 2021 Preliminary Economic Assessment, prepared in accordance with National Instrument 43-101, indicated an after-tax net present value of US$644.7 million and an Internal rate of return of 43.4 per cent.
The PEA recommended that the project be advanced to the preliminary feasibility stage. It concluded that the project has the potential to become a mid-tier copper mine producing 38 million kg of copper per year.
The evaluation found that there is no designated critical habitat, and the potential effects of dust on wildlife and vegetation are not expected to be substantially different from current conditions within the area.
Copper Fox’s President and CEO, Elmer B. Stewart stated that the preservation of wildlife and wildlife habitat are fundamental aspects of the company’s operating strategy and ESG policy.
“Based on the findings of the Biological Evaluation, Copper Fox plans to commence Phase I activities (estimated to cost US$240,000) to investigate the potential of rehabilitating and completing a comprehensive testing program on existing drill holes to establish hydrogeological monitoring sites. Results of the Phase I activities would be used to establish a base on which to advance the project to Phase II which includes additional drilling to expand the hydrogeological monitoring system and collection of data to advance the project to the preliminary feasibility stage.”
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 Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25 per cent interest in the Schaft Creek Joint Venture with Teck Resources Limited.
Copper Fox Metals Inc. (CUU) is trading steady at C$0.22 as of noon ET.