Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

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%)

Free
Message: Year End Financials

Yeah, I got what that NR said.

Have a look at the 2012 exploration programme NR from May 2012. What did we achieve of that plan? We did the magnetics and we drilled 5 holes for phase 1 of which 3 failed. No Titan, no phase 2 drilling and we were out of camp at the end of August. So they avoided a bit more than just drilling the Schaft Creek deposits. All we achieved in 2012 is demonstrate a wee bit more mineralization in Discovery. Zip in Mike, and we didn't even try to drill GK. So they were right about "avoiding any work...on the Schaft Creek deposit" but they avoided a lot more.

Now, we are talking up the 171M tonnes like it was some gift from heaven. It's been there since 2002 or at least since 2008 since our mine plan didn't change much at all. We should have drilled it at some point in the years since the 2008 mine plan.

  1. Have a look at the 2011 RE recommendations (pg 26-1). WBZ (equals the west side of Liard Zone) is where we have recommendations to drill in the 2012/3 FS - near DDHAS-16. They recommended drilling then:

Drill additional holes to increase the level of confidence of the lithological interpretation and to explore the zone of higher-grade mineralization present within the WBZ associated with a high chargeability geophysical anomaly. An additional 10 holes (9,000 m) is suggested. Estimated cost: US$2.7 M to US$3 M

Also, would we not have had a mine plan going into the 12th inning in spring 2012 expecting a FINAL BFS to be dropped? Had they not even achieved so much as a mine plan in March 2012? Right up to the big delay last spring, they were still talking about delivering BFS at the end of March - with no mine plan?? I would hope we had a mine plan and, if we did, it would have shown were there was some inferred that needed drilling.

The latest NR's are saying that this 171M tonnes is where our upside is at (or a big part of it anyways). Why didn't we chase that upside in 2009, 2010, or 2011?? Why is it not a waste of money and time now when it was not persuing before? The excuse is that we didn't have a mine plan.

The main theory is that Teck is a-okay with 'knowing' what that 171M tonnes means and will pay us handsomely for it. What if Teck decides to take a walk or play dumb about the 171M tonne potential; after all, drillling could move the grades and tonnage around from what we 'infer' it to be. That's why we can't consider it mill run ore.

Say we do have a drilling programme this year. Much, if not all of it, will be tied up with this 171M tonnes while Discovery, Mike, ES and GK sit undrilled. So while we are playing with updating Schaft, we leave the other zones pretty much where we left them in 2012. 171M tonnes vrs adding whole, new, huge, confirmed zones of to the equation. What would you rather be drilling?

Share
New Message
Please login to post a reply