Copper Fox Metals advances Van Dyke’s updated PEA and establishing permanent facility in Miami, Arizona – Resource World Magazine

Copper Fox Metals advances Van Dyke’s updated PEA and establishing permanent facility in Miami, Arizona – Resource World Magazine

Copper Fox Metals Inc. [TSXV: CUU; OTCQX: CPFXF; FSE: HPU], through its wholly owned subsidiary Desert Fox Van Dyke Co., provided a progress report on completion of the updated Preliminary Economic Assessment (PEA) on its 100%-owned Van Dyke in-situ copper recovery (ISCR) project, Arizona. Copper Fox is focused on leveraging existing infrastructure and community support with a more environmentally friendly approach to advance the past-producing Van Dyke copper mine to the Prefeasibility Study (PFS) stage with the objective of re-starting copper production from this historic mine in the Globe-Miami Mining District, Gila County, Arizona. Highlights: Several key study components substantially defined the project plan uses a two-phase underground development approach; approximately 4,900 metres of underground development; roadheader for excavation is expected to improve safety and ground stability. The leach schedule prioritizes higher-grade panels early; surface infrastructure location established; groundwater flow model completed, additional modelling in progress and progressing acquisition of permanent office, core storage, and sampling facility. Elmer B. Stewart, President and CEO of Copper Fox, stated, “Completion of these front-end activities enables the PEA team to move toward finalizing key operating and cost components for the updated PEA. Trade-off studies focused on improving operational efficiency have been completed for each phase of the project and are being used to optimize the projected pre- and post-tax economic models using updated copper prices.” The technical studies completed since 2021 resulted in several significant changes to the planned development of the Van Dyke deposit including mechanical (roadheader) excavation of the underground workings. Mineralization occurs in fractures, breccia, quartz veins and along cleavage planes primarily in the Pinal Schist and to a lesser extent in porphyritic dykes and Intrusive breccias related to the Schultz granite. The deposit is covered by a Leach Cap and a thick layer of Gila conglomerate. The updated PEA is focused on the Oxide and Transitional zones, the two zones of economic interest in the Van Dyke deposit. The deposit exhibits four mineralogical domains that occur in order of depth; Leach Cap (mixed clay, limonite, hematite, jarosite) underlain by the Oxide zone (malachite, chrysocolla, azurite, cuprite and tenorite), beneath the Oxide zone there exists a weakly developed Transitional zone (mainly chalcocite with sparse malachite, azurite and chrysocolla) that transitions at depth into local zones of poorly defined hypogene chalcopyrite-pyrite-molybdenite mineralization (i.e. the Sulphide zone). A two-phase approach totaling approximately 4,900 metres of underground development in the Gila Conglomerate is planned. The use of a roadheader is expected to eliminate the noxious gases typically associated with traditional drill and blast excavation techniques and maintain the geotechnical mechanical integrity of the Gila conglomerate. Additional ground support to maintain geotechnical strength of the underground workings consists of two layers of shotcrete and Swellex rock bolts. Phase I (years 1-6) calls for excavating in the Gila conglomerate a (5.8m x 5.8xm) 1,712m decline to a level that is approximately 50m above the Gila/Leach Cap contact followed by excavation of the 5.8m x 5.8m Phase I drift and 6.2m x 5.8m galleries totalling approximately 2,800 metres to accommodate installation of an egress/ventilation raise and Phase I wellfield for leaching the deposit located below the underground workings. Phase I covers a higher-grade portion of the deposit and is expected to increase copper production in the early years of mine life and accelerate capital cost recovery. Phase II (years 7-17) development totalling approximately 1,310 metres accesses a lower-grade portion of the deposit. The Phase II drift and galleries will be completed prior to installation of the wellfield for leaching purposes. The preliminary general layout of the site infrastructure includes early installation of a “drop-down” power sub-station from an existing nearby high voltage line, establishing a mine dry, workshop, and office to facilitate establishing the portal and excavation of the decline, drifts and galleries. Other infrastructure requirements that would be subject to permit conditions include tankage for retention and neutralization/treatment of discharge water from excavation activities. It is estimated that during excavation activities, water requirements would be in the order of +/-10,000 gallons/day. Installation of the SX-EW facilities and Phase I water treatment facilities are planned later in the project development schedule. Phase II expansion of the water treatment facility is planned 3-4 years after the start of leaching operations. The proposed leach schedule contemplates a two-phase approach allowing early access to the higher-grade portions of the deposit. The leach panels and proposed leach schedule are shown in Figure- 5. Phase I (years 1-6) focuses on production from the higher-grade portions and Phase II (years 7-17) focuses on the lower-grade portion of the deposit. The leaching plan contemplates commencing leaching operations in Panel P1-1 continuing to P1-6 followed by Panel P2-4 (higher-grade mineralization) progressing to outward to P2-1. P2-5 through P2-7 covering a lower-grade portion of the deposit are scheduled toward the end of mine life. Leaching of each panel is expected to take five years followed by one year of rinsing subject to copper content of the rinse solution and permitting requirements. The Phase I numerical groundwater flow model has been constructed and successfully calibrated. Model calibration utilized both steady-state and transient methods to simulate the dynamic groundwater regimes in the project area. The groundwater flow model for the project significantly expands the understanding of the hydrogeologic characteristics and regional hydrogeological controls. The rigorous calibration applied to the model demonstrates the veracity of the model for future simulations in sufficient detail to better understand the hydrology of the Van Dyke deposit area. In addition to predictive modeling of the Van Dyke deposit, the model is expected to identify gaps in the hydrological/water monitoring grid coverage and evaluate hydrologic interaction between the Pinal Schist, the Van Dyke Resource and the Gila Conglomerate. Copper Fox has entered discussions to purchase its current office and core storage facility located in Miami, Arizona. The purchase price is US$290,000. The facility comprises an office, core preparation facility, an outbuilding and approximately 0.86 acres of land. The purchase is expected to close in September 2026, subject to normal closing conditions and adjustments. Copper Fox and its subsidiaries own 100% of the Van Dyke ISCR project, a development stage, potential near term, mid-size copper mine in Arizona and a 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited (75% interest and Operator) which hosts the Schaft Creek copper-gold-molybdenum-silver project in British Columbia’s Golden Triangle. In addition, Copper Fox owns 100% of the resource stage Eaglehead polymetallic porphyry copper project in northwestern British Columbia and the Sombrero Butte and Mineral Mountain advanced exploration stage porphyry copper projects located in the prolific Laramide age copper province in Arizona.