news out
posted on
May 10, 2012 08:08AM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
VANCOUVER
,
May 10, 2012
/CNW/ -
Mr. Elmer Stewart
, President and CEO of Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX-V: CUU) announced the Company's 2012 exploration plan for the Schaft Creek project, the acquisition of additional mineral tenures contiguous to the Schaft Creek project, and the completion of an option to acquire the Jay/Scotch mineral tenures contiguous to Schaft Creek.
Mr. Stewart
stated "Since discovery of the Schaft Creek deposit in 1957, approximately less than 10% of the project area has been explored. The work Copper Fox completed in 2010 and 2011 suggests a potential to locate additional porphyry style deposits along strike of the Schaft Creek deposit. The 2012 exploration program will focus on the regional evaluation and exploration of the project outside the limits of the Schaft Creek deposit and is expected to cost approximately
$10.0 million
".