Copper Fox Metals (CVE:CUU) unveiled late Thursday the remainder of diamond drill results from its 2011 program at the Schaft Creek deposit in British Columbia, locating a new zone of copper mineralization outside known deposit parameters.
Highlights of the results include hole DDHCF418B-2011, which intersected 0.30% copper, 0.06 grams per tonne (g/t) gold, 0.038% molybdenum and 1.57g/t silver (or 0.56% copper equivalent) over a 324 metre core interval starting at a core length of 255.6 metres. The company said this hole extends the Paramount zone to the south.
This hole also contains a 52 metre interval grading 0.72 g/t gold and 2.29 g/t silver starting at a core depth of 580.4 metres.
Meanwhile, hole CF422-2011, located 1,200 metres north of the Paramount zone, intersected a new zone of mineralization that averaged 0.15% copper, 0.06 g/t gold, 0.010% molybdenum and 1.01 g/t silver (0.25% copper equivalent) over an interval of 235 metres starting at a core length of 83.0 metres.
This hole intersected the western edge, or a 75 metre wide portion, of a large 1,800 metre long by 800 metre wide chargeability anomaly located within the Schaft Creek Mineral Trend.
"The interpretation that the Schaft Creek Mineral Resource could host other deposits is strongly supported by the mineralization in DDHCF422-2011," said president Elmer B. Stewart.
"Although a considerable amount of drilling is required to delineate and determine the significance of this discovery, the continuity of the mineralization and its location on the western edge of a large strong chargeability anomaly suggests that this zone has considerable potential.
"This discovery marks a significant milestone in understanding the mineral potential of the Schaft Creek project."
Other notable results include hole DDHCF420-2011, which returned 0.31% copper, 0.10 g/t gold, 0.014% molybdenum and 1.25 g/t silver (0.46% copper equivalent) over a core interval of 328.0 metres starting at a core depth of 326.0 metres, including a 127 metre interval of 0.42% copper, 0.15 g/t gold, 0.025% molybdenum and 2.44 g/t silver (0.67% copper equivalent) starting at a core depth of 527.0 metres.
In addition, hole DDHCF425-2011intersected two intervals of mineralization including 0.38% copper, 0.12 g/t gold, 0.021% molybdenum and 2.20 g/t silver (0.58% copper equivalent) over a core interval of 63.7 metres, starting at a core length of 566.0 metres.
Stewart continued: "DDHCF418B, DDHCF420-2011 and DDHCF425-2011 were drilled between the Paramount and Liard zones and demonstrate continuity of the mineralization along strike and at depth.
"These holes contain higher grade intervals which although narrowing to the south are hosted in broad zones of copper mineralization with lower gold and molybdenum concentrations."
Copper Fox is a Canadian resource company that is working on completing a feasibility study on the "giant porphyry' Schaft Creek mineral deposit, one of the largest undeveloped copper, gold, molybdenum and silver deposits in North America.
The feasibility study is being led by Tetra Tech WEI, on a minimum 120,000 tonne per day open pit mine and is expected to be completed during the first quarter of 2012.
Copper Fox holds title and a 100 percent working interest in a 21,024.96 hectare property that includes the Schaft Creek deposit, subject to a 3.5 percent Net Profits Interest held by Royal Gold, a 30 percent carried Net Proceed Interest held by Liard and an earn back option held by Teck Resources (TSE:TCK.B).
The company is currently earning a 78 percent interest in Liard from Teck. Teck's earn back option to acquire 20 percent, 40 percent or 75 percent of the Copper Fox interest in the Schaft Creek project is triggered upon the completion of a positive feasibility study.