Schaft Creek Copper / Gold / Molybdenum / Silver Mine
Schaft Creek is one of the largest undeveloped copper, gold, molybdenum and silver deposits in North America, and is situated 45 kilometers west of the Stewart-Cassiar Highway and approximately 80 kilometres south of Telegraph Creek in north western British Columbia. Copper Fox holds title and a 100% working interest in the Schaft Creek project consisting of 55,779.55 hectares (137,834 acres).
About This Project
The Schaft Creek Project was extensively explored and drilled by several mining companies since its discovery in the late 1950's culminating with the completion of a pre-feasibility study by Teck-Cominco Corp. (now Teck Resources Limited) in the early 1980s. In 2002, Copper Fox Metals Inc. secured the rights to acquire a 100% working interest in the project pursuant to an Option Agreement with Teck Resources Limited ("Teck") and related underlying agreements. Copper Fox has since earned a 100% working interest in the project (subject to the terms and conditions of the Option Agreement and an earn-back Option held by Teck) and has incurred expenditures of approximately $76.6 million to the end of April 2012.
In September 2012, Copper Fox Metals revealed the results from two diamond drill holes, showing what it called "widespread mineralization" from the Discovery zone at its Schaft Creek copper-gold-molybdenum-silver project. The company has stated that with these holes, phase 1 of the 2012 exploration program has been completed, which so far has totalled 2,206 metres in six diamond drill holes.
The company recently completed a Feasibility Study prepared by Tetra Tech on the Schaft Creek deposit based on an open pit mine, processing at a nominal rate of 130,000 tonnes per day with a 21 year mine life. The open pit mine will produce 4.88 billion pounds of copper, 4.21 million ounces of gold, 25.10 million ounces of silver and 214.92 million pounds of molybdenum.
Copper Fox is committed to working with community members, stakeholders and the Tahltan Nation to develop an economically, environmentally and socially responsible project. The Project is communicated via open houses, public meetings, brochures and factsheets.
Copper Fox will submit the Environmental Assessment Application in the fourth quarter of 2012 and expects to complete the environmental assessment process by the end of 2013. In addition, Copper Fox will submit a permit application to construct the Schaft Creek access road concurrently with the environmental assessment application. This will ensure a timely transition from the environmental process to construction of the mine.
More Information Online
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