Copper Fox Metals Charts Its Course Of Action For 2017

Copper Fox Metals Charts Its Course Of Action For 2017

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, February 2, 2017

The precious metals sector is expected to do well in 2017 as the world economy grows and governments around the world step up infrastructure spending, which requires plenty of precious metals. As a result, based on analyst consensus, Copper is expected to touch $6,200 per tonne this year which bodes well for companies such as Copper Fox Metals Inc. (TSX-Venture:CUU). The Canadian company owns several properties with copper as well as other metal deposits. In order to apprise its investors of its upcoming activities, the company announced an outline of activities planned for 2017. The company’s main focus continues to be its Schaft Creek Joint Venture. Copper Fox Metals has set aside $0.9 million for its 2017 activities and plans to complete the resource re-modeling of the project this year. This will help the company in moving forward with the project. The remodeling will use the data collected from previous attempts.


To proceed with the project, the company plans to submit an application for a Multi-Year Area Based Permit for replacing the expired permit. The permit will allow for up to 50 diamond drill holes, 5 kms of new drill road and 20 kms of line cutting. However, Copper Fox Metals does not have any immediate plans for carrying out any such activities.

Copper Fox Metals also intends to fulfill its social obligations. It will conduct discussions with the Tahltan First Nations on various social and cultural issues. The company owns a 25% interest in the project, which is a joint venture with Teck Resources.

Shares of CUU have had strong gains so far this year as shares rallied 32% in 2017 alone. In the past 12 months, the stock has gained close to 27%. Shares may continue to retain their momentum as the Company has charted ambitious plans for 2017.

Recently, Copper Fox Metals had reported positive findings from its preliminary sampling at its Mineral Mountain porphyry copper project, located in central Arizona. The company has a 100 percent ownership of this property. It had collected 51 samples which showed the likelihood of a large zone of porphyry style copper-molybdenum-gold-silver mineralization.

The average metal concentrations for the samples drawn from the mineralized zone were 0.884% copper, 0.011% molybdenum, 0.122 g/t gold, and 29.8 g/t silver. The mineralization also showed a positive rhenium-tellurium association. The company is still in the process of obtaining results from 70 additional samples.

Copper Fox Metals has a fairly diversified portfolio as it has interests in various projects spread across different geographical areas. It has full ownership of the Sombrero Butte copper project located east of Mammoth, Arizona as well as of the Van Dyke oxide copper project in Miami, Arizona. Apart from this, the company also has a 65.4% stake in Carmax Mining Corp. which owns 100% of the Eaglehead copper-molybdenum-gold project located in northwestern British Columbia.

This diversification helps the company in managing its revenue and risk profile, which in turn will help keep shareholders more insulated from commodity price fluctuations.

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