Copper Fox Metals Large Copper Project JV with Teck
Elmer Stewart, President & CEO of Copper Fox Metals, on company’s goals for the next year.Elmer Stuart, President & CEO of Copper Fox Metals unveils how the company intends to develop the Schaft Creek Project and what their plans for the future are.Copper Fox Metals is a company focused on copper projects, but it focuses particularly on large copper projects porphyry systems with copper and gold in them.The company has two projects in Northern West British Columbia and two others in Arizona, in the Laramide Copper province. They have developed the Schaft Creek Project to the point of the feasibility stage study, which resulted in 130,000 tonnes a day.To move such a big project forward, the company has established a joint venture with Teck, an experienced operator with similar projects at Highland Valley.Teck is spending $60 million and Copper Fox Metals has a free carry on and milestone payments. If there is a production decision, Teck needs to put up all the money on behalf of Copper Fox to carry it through the production.Plans for the future include:
- completing the work at Schaft Creek in partnership with Teck;
- continue to work on the Van Dyke Project, an advance style of ISL project in Arizona;
- look for partners on the United States properties;
- maintain the Carmax mining project for themselves for the time being.