From the Website Grant-

"Copper Fox is unique in its peer group in that it has a 25% carried to production interest and future cash payments based on certain project milestones in the Schaft Creek porphyry copper project and a 100% interest in the Van Dyke In-Situ Leach oxide copper project, two advanced stage development projects with National Instrument 43-101 Technical Reports.  The Schaft Creek project is operated by Teck Resources Limited through the Schaft Creek Joint Venture pursuant to which Teck is responsible for funding the project.  Large projects such as Schaft Creek require experienced operators like Teck to advance the project to the production stage while at the same time minimizing project risks"

The potential to locate additional resources at the Schaft Creek and Van Dyke projects is considered excellent in that both projects have a number of mineralized targets remaining to be drill tested. 

With the potential onset of a positive copper cycle, Copper Fox is increasing its exploration efforts to advance each project while concentrating on the one project that provides maximum asset value to the Company per dollar spent.  In 2019, we are working closely with our joint venture partner to enhance the value of the Schaft Creek project.

Our primary and most advanced asset is the 25% carried interest in the Schaft Creek Joint Venture (‘SCJV’).  The Schaft Creek project hosts one of the largest undeveloped polymetallic porphyry copper deposits in North America.

The stated resources for the Schaft Creek deposit are considered a minimum.  The mineralized envelope for the Schaft Creek deposit is open to extension and surrounding area which includes the Discovery zone (4 mineralized drill holes) and other exploration targets which are considered to have excellent potential to find additional copper mineralization.  

Under the SCJV agreement, Teck is required to make three cash milestone payments to the Company: (i) $20 million upon entering into the agreement (received), (ii) $20 million upon a production decision approving mine construction, and (iii) $20 million upon completion of construction mine facilities.

The stated resources for the Schaft Creek project are considered to be the minimum for the project for the following reasons, i) the limits of the mineralized envelope in the Schaft Creek deposit has not been defined, ii) the Discovery Zone (porphyry style mineralization) located approximately 2 kilometers to the north of the Schaft Creek deposit has not been drilled out and iii) a number of exploration targets in the vicinvity of the Schaft Creek deposit have not been drill tested.