Copper Fox Metals Inc. Moves Van Dyke Project Forward Towards Prefeasibility Study
- Copper Fox Metals Inc. is advancing its Van Dyke copper project towards a Prefeasibility Study with a dedicated project team.
- The project team, led by Stantec, aims to create a detailed Execution Plan for scope, timing, and costs.
- Copper Fox emphasizes the social and economic benefits of the Van Dyke project for the local community in Arizona.
Copper Fox Metals Inc. Advances Van Dyke Project Towards Prefeasibility Study
Copper Fox Metals Inc. has taken a significant step in advancing its 100% owned Van Dyke in-situ copper recovery (ISCR) project located in Arizona's Globe-Miami Mining District. The company announces the formation of a dedicated project team aimed at progressing the initiative to the Prefeasibility Study (PFS) stage. This development comes on the heels of an updated Mineral Resource Estimate and Preliminary Economic Assessment (PEA) completed in 2020, which utilized a base copper price of US$3.15 per pound. The new team intends to create a comprehensive Execution Plan that will detail the necessary scope, timing, and costs required for the PFS, signaling a robust commitment to the project's advancement.
Leading the project team is Stantec, a recognized leader in mining engineering, which is expected to bring valuable expertise from its experience with previous ISCR projects. This collaboration aims to streamline the process of moving towards the PFS, ensuring that all aspects of the project are meticulously planned and executed. Elmer B. Stewart, President and CEO of Copper Fox, underscores the potential of the Van Dyke project, not just in terms of copper production but also its capacity to generate hundreds of jobs for the local community. This dual focus on resource development and community impact illustrates Copper Fox's strategic approach to mining, which seeks to create sustainable economic growth in the regions where it operates.
In addition to the partnership with Stantec, Samuel Engineering plays a crucial role in the project's advancement by developing a preliminary geometallurgical model using Cancha Geometallurgy software. This model aims to enhance understanding of the copper mineralogy associated with the Van Dyke project and address existing data gaps. By refining the geological and metallurgical data, Copper Fox aims to optimize the project's feasibility and ensure a more reliable pathway towards production. The company's extensive asset portfolio, which includes the Mineral Mountain and Sombrero Butte exploration projects, as well as a 25% stake in the Schaft Creek joint venture with Teck Resources, positions it well within the competitive landscape of copper mining.
The efforts surrounding the Van Dyke project not only highlight Copper Fox's commitment to responsible mining practices but also emphasize the anticipated social and economic benefits for the Town of Miami and its surrounding areas. As the project progresses, the company remains cautious, reminding stakeholders of the uncertainty inherent in forward-looking statements. This balanced approach underscores the importance of transparency and strategic planning as Copper Fox navigates the next phases of its ambitious project.