It’s getting near the high season for mining companies in Canada, and Calgary-based Copper Fox Metals Inc. (TSX-Venture: CUU) had something to say about it Monday.
The company’s wholly-owned subsidiary, Desert Fox Copper Inc., provided an update of recent studies and its exploration plans for its 100% owned Mineral Mountain porphyry copper project located approximately 15 miles (25 kilometres) east of Florence, Arizona.
An 18.2 km chargeability/resistivity survey is planned to test two large porphyry copper targets. The copper mineralization is hosted in a multi-phase intrusive ranging in composition from quartz monzonite to granodiorite.
CEO Elmer Stewart said "The above highlighted points and our efforts over the past two years has re-defined the geology, identified two large porphyry copper targets, demonstrated the mineral potential of the project and strongly refutes many of the previous interpretations and concepts related to the Laramide age intrusion at Mineral Mountain.”
CUU shares gained 2.5 cents, or 20%, to 15 cents, on volume of 291,000 shares.
