CUU: Receives BLM Acceptance of Bond for Mineral Mountain
What you need to know:
• Copper Fox received BLM approval for its Surety Bond to conduct a diamond drill program at its 100%-owned Mineral Mountain Property.
• CUU is planning four diamond drill holes totalling 2,500m to test two areas of higher chargeability within a wide 3.2km x 1.2km anomaly.
• As previously announced, the Company is putting together a team to develop a plan to advance the Van Dyke Project to the PFS stage.
• On July 8th, our team published an interview with President and CEO Elmer Stewart, watch it here.
This morning, Copper Fox Metals Inc. (CUU:TSXV, CPFXF:OTC) announced that the Bureau of Land Management (BLM) has accepted the Surety Bond for the Mineral Mountain Plan of Operation to conduct an exploratory drill program on the Company’s wholly owned Mineral Mountain property. The acceptance of the Surety Bond was the final step required to commence drilling. Copper Fox can now move forward with its planned drill program at Mineral Mountain (~2,500m), which will be the first known drill program completed on the property. We are maintaining our BUY rating and C$0.50/share target price on Copper Fox Metals.
Next Steps
Copper Fox is currently soliciting bids for the drill program from four Arizona-certified drilling contractors. The program consists of up to four diamond drill holes totalling 2,500m, designed to test two areas of higher chargeability (>18 mrads). These areas are within a 3.2km by 1.2km chargeability anomaly (>12 mrads) that lies beneath a 3.4km by 1.6km porphyry copper footprint. The drill program is expected to commence in Q3/25 once summer temperatures subside.
Mineral Mountain Project
The Mineral Mountain Project is an early-stage porphyry copper exploration target located in Pinal County, Arizona, within the Globe-Miami-Santa Cruz porphyry trend, a well-defined porphyry copper belt. CUU holds 100% interest in the project, and it shares characteristics with Tier 1 copper systems within the belt, including Resolution (owned by Rio Tinto and BHP) which hosts ~59Blbs of contained copper at 1.5% Cu; the historical Miami-Inspiration district, and the Ray Mine.
The project covers a 3.4km x 1.6km zone of gold ‘enriched’ porphyry copper style mineralization associated with a 3.2km x 1.2km chargeability anomaly hosted in porphyritic granodiorite and quartz monzonite phases of the Laramide age Mineral Mountain intrusive.