Tech Resources (TSX: TECK A & B; NYSE: TCK) and Copper Fox Metals (TSXV: CUU; OTCQX: CPFXF) are pressing forward at the Schaft Creek copper project in northwest British Columbia. A full slate of field programs, engineering studies, environmental studies, and community consultation are underway.
The Schaft Creek joint venture is owned 75% by Teck (operator) and 25% by Copper Fox. It is one of the largest undeveloped porphyry copper-gold-molybdenum-silver deposits in North America. A preliminary economic assessment (PEA) was made in 2021 for Copper Fox. The property is located about 120 km southwest of Dease Lake, BC.
The 2024 field program is underway at Schaft Creek, starting with an upgrade to the camp facilities including a solar power installation. Two drill rigs are onsite to conduct a geotechnical program.
The engineering studies that were received last year following the 2023 geotechnical drilling and related geophysical and hydrogeological surveys is being used to guide this year’s geotechnical drilling program.
The proposed Schaft Creek open pit is approximately 3.1 km long and 1.7 km wide, with open pit slopes in excess of 1,200 meters high. The mine plan is based on a conventional truck-and-shovel operation, but investigation is now underway to using in-situ recovery (ISR) of copper.
A 21-year life of mine would be reasonable using a truck-and-shovel mining process, producing 1.03 billion tonnes of mill feed and 1.03 billion tonnes of waste rock with average grades of 0.26% copper, 0.16 g/t gold, 0.017% molybdenum, and 1.23 g/t gold.
Metallurgical studies are underway with completion expected in the third quarter 2024, including updated metal recovery and grinding projections. Preliminary results show opportunities to optimize the flowsheet, said Copper Fox.
The environmental program is underway to assess surface water, groundwater, fish, meteorology, and glacial features. Archaeological surveys of areas proposed for infrastructure are progressing toward final site layout.
Teck and Copper Fox continue to collaborate and engage with the Tahltan Nation, on whose traditional land the project is located. Support for educational opportunities, youth athletics, and cultural training are underway.
The 2024 exploration program will advance Schaft Creek toward the start of the prefeasibility study stage, according to Copper Fox president and CEO Elmer B. Stewart.
The 2021 PEA included measured and indicated resources of 1.35 billion tonnes grading 0.26% copper, 0.16 g/t gold, 0.017% molybdenum, and 1.25 g/t silver. The inferred portion totalled 344 million tonnes at 0.17% copper, 0.17 g/t gold, 0.013% molybdenum, and 0.84 g/t silver.
Additional information is posted on www.CopperFoxMetals.com.
