Thanks hubris33,
Yes Copper Fox owns 42% (that's a feather in CarMax's hat IMO to have that vote of confidence and their $$$$$), they have the Schaft Creek JV with the major Teck its in the same area.
Elmer Stewart CEO of Copper Fox is on the board of Carmax which IMO is very good, here we have the senior successful CEO from a project that Copper Fox sold to Teck for $60M for 75% ownership and Teck will develop and operate the Schaft Creek mine.
I speculate the Eaglehead property is being groomed for a similar transaction that TECK & Copper Fox have done.
The grades are within the mineable range for Porphyry deposits, this is a TONNAGE situation .....
The Eaglehead property hosts an NI 43-101 Inferred Mineral Resource estimate to contain 103.0 million tonnes at an average grade of 0.29% Cu, 0.010% Mo and 0.08 g/t Au.
The resource was estimated at a cut-off grade of 0.16% CuEq, to contain approximately 662 million pounds copper, 22 million pounds molybdenum, and 265,000 ounces gold.
The Mineral Resource is contained within two conceptual open pits covering the East and Bornite zones.
The Schaft Creek deposit host a Measured and Indicated Resource of 1,228.6 million tonnes grading 0.26% copper, 0.017% molybdenum, 0.19 g/t gold and 1.69 g/t silver and a 597.2 million tonne Inferred Resource grading 0.22% copper, 0.016% molybdenum, 0.17 g/t gold and 1.65 g/t silver. The above stated Proven and Probable Reserves for the Schaft Creek project are included within the stated Measured and Indicated Resources for this project.
As far as the CEO Jevin Werbes not sure if he's a Geo, however he did get Copper Fox to invest over a million $ in 2014.
SchaftCreek Deposit - TECK Resources TCK.T & Copper Fox CUU.V (resource estimate of 7.1 billion pounds copper)
Red Chris Mine - Imperial Metals III.T (reserves of over 300 million tonnes)
I like the chance that CarMax will have more tonnage as they did geophysics in summer and brought up a 4.5 KM anomaly which I think this indicates that it's not two zones ......... but one Large ZONE CarMax has .... some 4.5 Km long ........
Apparently there are two more drill holes to be announced form the 2014 summer drilling ….
Cheers !
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