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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%)

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Message: Re: Newest SC claims
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Feb 07, 2013 12:01PM
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Feb 07, 2013 12:07PM
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Feb 07, 2013 12:13PM

Schaft Creek Acquisition:
The two mineral tenures (consisting of 2 mineral tenures totaling 487.99 hectares) are located within the Company's Schaft Creek project. Consideration paid by Copper Fox was $12,000 cash and a 2% net smelter return (NSR) royalty on the mineral claims subject to a "Partial NSR Buyout Option". The Partial NSR Buyout Option allows Copper Fox at any time to purchase half of the NSR for a cash payment of $1.0 million such that the NSR is reduced from 2% to 1%.

Sombrero Butte Acquisition:
The 22 Bureau of Land Management ("BLM") lode mineral claims were located by Copper Fox to cover the southern and western extension of mineralized breccia pipes located within this historical mining district. A limited field program is underway to complete a preliminary assessment of these lode claims consisting of mapping and sampling utilizing a NITON instrument to measure metal concentrations in outcrop.

I dont' think the pennies we spent on the SC claims broke the bank. We don't know what we spent for the Sombrero claims (Why??).

The NR is also a bit erroneous in describing the SC claims. There are 4 claims, not 2 as quoted in the NR (not the biggest deal). They are about 750 m to the SCMT as described by CUU previously - which is pretty close I guess. MTO confirms the 487 hectares quoted in the NR.

I didn't see any infrastructure in the FS summary planned for that location either though it may be an alternative scenario that is part of the bigger, full FS.

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Feb 08, 2013 01:41PM
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Feb 08, 2013 01:57PM
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Feb 08, 2013 02:07PM
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Feb 08, 2013 02:19PM
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