A total of four drill holes were completed in the Liard zone, targeting representative geometallurgical domains within the first five-year mine plan as contemplated in the Schaft Creek preliminary economic assessment (PEA).
The drilling intersected copper-gold-molybdenum mineralization including low-grade, life of mine (LOM) and higher-grade mineralization for the metallurgical test work.
This was highlighted in DDH SCK-21-447, which intersected a 216.5-metre interval from 7.6 to 224.1 metres that averaged 0.295% copper, 0.367 g/t gold, 0.004% molybdenum and 1.97 g/t silver. This interval includes 108.4 metres of 0.411% copper, 0.560 g/t gold, 0.004% molybdenum and 2.84 g/t silver starting at 7.6 metres.
Another drill hole, DDH SCK-21-446, intersected 104.0 metres of 0.333% copper, 0.123 g/t gold, 0.007% molybdenum and 1.22 g/t silver, starting at 86.0 metres down.
“Receipt of the analytical results from the 2021 metallurgical drilling program allows sample selection and commencement of the planned metallurgical test work,” Elmer Stewart, president and CEO of Copper Fox, stated. “The drilling intersected several near-surface higher-grade intervals of mineralization and has confirmed continuity and grade of the mineralization between existing drill holes and provides additional confidence in the geological and resource model for the Schaft Creek deposit.”
The Schaft Creek deposit is considered to be one of the largest undeveloped porphyry copper deposits in North America, with significant gold-molybdenum-silver byproducts.
According to the September 2021 PEA, the Schaft Creek project has an estimated life of 21 years, during which time 5 billion lb. of copper, 3.7 million oz. of gold, 226 million lb. of molybdenum, and 16.4 million oz. of silver will be recovered.
(This article first appeared in the Canadian Mining Journal)
