Copper Fox Metals Reports Financial Results for Q1

Copper Fox Metals Inc. (TSXV:CUU) reported a net loss of $182,095 and incurred $769,718 in expenditures toward furthering the development of its Van Dyke copper project in Arizona during the first quarter.

As quoted in the press release:

Highlights:
Schaft Creek Project
During the quarter, the results for the 2013 program were released. Although the 2013 field program completed fewer metres than planned, the objectives of the 2013 program were essentially achieved. The objectives of this program were to determine if the mineralization in the Paramount zone continues to the east under Mount LaCasse and to collect additional data for pit slope stability studies. The diamond drilling program demonstrated that the mineralization in the Paramount zone extends at least 300m east of the 2012 resource block model and also marginally to the west. Results of the pit slope studies were also positive.

Van Dyke Copper Project
During the quarter, the Company initiated a program to verify the historical results from the Van Dyke oxide copper deposit that consists of a 5,000m (approximately nine holes) diamond drilling program to twin seven historical drill holes, as well as submitting pulps from original drill core samples and splitting the mineralized core interval for certain historical drill holes. Results of the analytical work is expected shortly.

Sombrero Butte Copper Project
Desert Fox’s objective on the Sombrero Butte project is to assess its potential to host a large porphyry copper-molybdenum deposit. The results of the 2013 program were positive and identified the alteration pattern and veinlet and disseminated copper-molybdenum mineralization characteristic of a porphyry copper system. Currently, Desert Fox is collecting all the data from the historical exploration conducted over this area since the mid 1960′s. Contingent on completion and review of this work, Desert Fox plans to complete a deep penetrating geophysical survey (Induced Polarization) to identify chargeability/resistivity anomalies indicative of porphyry copper systems. The Company has received the permit from the State of Arizona to conduct the Titan-24 Survey.

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