CALGARY, April 4 /CNW/ - Copper Fox Metals Inc. ("Copper Fox") (TSX Venture: CUU) applauds the recent announcement regarding the commission of an economic viability study for the Northwest Power Line along Highway 37 by the Mining Association of BC and the Northern Development Initiative Trust.
"The potential that the power line holds for the region, and projects under development such as Schaft Creek is tremendous," said Guillermo Salazar S., President of Copper Fox. "Copper Fox is proud to be among the members of the consortium and a contributor to the study. We are confident it will confirm a strong business case for the power line's development," said Salazar.
Copper Fox commends the leadership demonstrated by the Mining Association of BC and the Northern Development Initiative Trust for advancing the study.
Support for the project is widespread and stands as a testament to the strengths of the project. The contributions of consortium partners such as the Association of Mineral Exploration of British Columbia, First Nations, Governments, Independent Power Producers and local businesses demonstrates the consensus that long-term benefits can be realized by advancing the proposed power line.
For more information on the Mining Association of BC and Northern Development Initiative Trust announcement please go to www.mining.bc.ca, www.nditrust.ca or www.copperfoxmetals.com
About Copper Fox:
Copper Fox is a Canadian-based mining company listed on the TSX-Venture (CUU). The Company has concentrated its project activities exclusively to the Schaft Creek mineral Deposit, one of the largest undeveloped copper, gold, molybdenum and silver deposits in Canada. The preliminary mining plan is designed to extract the core 713.3 million tonnes of a Measured and Indicated, 43-101 compliant, mineral resource grading 0.304% copper, 0.218 g/t gold, 1.77 g/t silver, and 0.020% molybdenum, for a copper equivalent based on Case 2 metal pricing of 0.663% and a waste to ore ratio of 1.66 over 31 years, within the current NI 43-101 Mineral Resource of 1.4 billion tonnes, using a 0.20% CuEq cut off.
Copper Fox holds the property pursuant to an option agreement with Teck Cominco Limited and has earned a direct 70% interest in the Schaft Creek Mineral Deposit. The Company may acquire up to a 93.4% direct and indirect interest in the property. Title to the property is in good standing before the BC Government until 2018.
On behalf of the Board of Directors
Guillermo Salazar S, President and CEO
The TSX Venture Exchange has not reviewed the contents of this news
release and accepts no responsibility for the adequacy or the accuracy
Cautionary Note Regarding Forward-Looking Information
This news release includes "forward-looking information" within the meaning of the Canadian securities laws. All statements, other than statements of historical fact, included herein and including, without limitation; anticipated dates for receipt, commencement or completion of permits, approvals, construction, production and other milestones; anticipated results of drilling programs, scoping, prefeasibility and feasibility studies and other analyses; anticipated availability and terms of future financings; estimated timing and amounts of future expenditures; Copper Fox's future production, operating and capital costs; operating or financial performance; geological interpretations and potential mineral recovery processes, are forward-looking statements. Information concerning mineral reserve and resource estimates also may be deemed to be forward-looking information in that it reflects a prediction of the mineralization that would be encountered if a mineral deposit were developed and mined. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies. For any forward looking information given, management has assumed that the geological, metallurgical, engineering, financial and economic advice it has received is reliable, and is based upon practices and methodologies which are consistent with industry standards. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Important factors that could cause actual results to differ materially from Copper Fox's expectations include: fluctuations in copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for co-operation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Copper Fox's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. The forward-looking information in this news release is based on Copper Fox's current expectations and Copper Fox assumes no obligations to update such information to reflect later events or developments, except as required by law.