Issue link: http://resourceworld.uberflip.com/i/712968
10 www.resourceworld.com a u g u s t / s e p t e m b e r 2 0 1 6 Gold and copper prices are lower since 2012; however, offsetting that is a weaker Canadian dollar, lower labour and energy costs." He said the updated study will be com- pleted in August and will show the impact of the higher grade zones to the economics of the project. "We have made it clear that KSM is too large to build on our own," said Fronk. "Our plan is to bring in a major mining company as a joint venture partner to do the heavy lifting in terms of con- struction and operation of the mine and we continue to dialogue with many of the large gold and copper-based companies." Two projects with sizeable tonnages and potentially economic grades awaiting future government approvals that demon- strate the magnitude of the Triangle and precursors to what the Triangle contains are Galore Creek and Schaft Creek. Galore Creek is a project owned by NovaGold Resources Inc. [NG-TSX, NYSE MKT] and Teck Resources Ltd. [TCK.B-TSX; TCK- NYSE] and has a prefeasibility study to mine 82,000 tonnes of ore per day to pro- duce 6.2 billion lbs Cu, 4.0 million oz Au and 65.8 million oz Ag over an approxi- mate 18-year mine life. Schaft Creek is a Copper Fox Metals Inc. [CUU-TSXV; CPFXF-OTC] / Teck Resources joint venture that hosts a mea- sured and indicated resource of 1,228.6 million tonnes grading 0.26% Cu, 0.017% MoS 2 , 0.19 g/t Au, 1.69 g/t Ag and 597.2 million tonnes inferred resources grading 0.22% Cu, 0.016% MoS 2 , 0.17 g/t Au, and 1.65 g/t Ag. A company with strong roots to the Triangle is IDM Mining Ltd. [IDM-TSXV; RVRCF-OTC] by way of the company's President Robert McLeod and family with roots starting decades ago with explora- tion and mining in the Stewart area. The company's flagship is their Red Mountain Project with measured and indicated resources of 441,500 oz. Au averaging 8.36 g/t Au plus inferred resources of 82,300 oz Au at 7.69 g/t Au and wide open for expansion over a contiguous 16 km long by 4 km wide hydrothermal system. Since 1996, there has been minimal exploration on the property with increased bedrock exposure due to retreating glaciers. An updated PEA stated the after-tax base-case economics at Red Mountain indicate an NPV of $86.6-million at a 5% discount rate with an IRR of 32.3% and a two-year payback of initial capital. Surface mapping and sampling have identified a new, extensive zone of mul- tiphase veining and shearing, hosting high-grade, intrusive-related, gold-silver- molybdenum mineralization at the Lost Valley area of Red Mountain. This new area was recently exposed by the retreat- ing Cambria icefield. Assays range from trace to 165 g/t Au, averaging 10.5 g/t Au, as well as trace to 1,065 g/t Ag, averaging 81 g/t Ag. A total of 22 samples assayed over 3.0 g/t Au, averaging 30.45 g/t Au. Colorado Resources Ltd. [CXO-TSXV; CLASF-OTC] is the largest junior land- holder in the Golden Triangle with five projects totaling over 100,000 hectares. In 2013, Colorado made the North ROK por- phyry coper gold discovery in the Red Chris camp – the first new discovery in more than 40 years in this area. Colorado also holds the Kinaskan property located to the north of the GJ Project of Skeena Resources and between Skeena's GJ and Spectrum Project. In 2014, Colorado started to assemble the KSP Project by staking and an option to earn 80% with Snipgold in the Snip Camp noting geological similarities with the KSM and Brucejack properties of Seabridge and Pretium located 25 km east. In 2015, Colorado optioned its epithermal gold Heart Peak Project to Centerra Gold [CG-TSX] and continued to advance KSP. In June 2016, Colorado's KSP option partner Snipgold was acquired by Seabridge who confirmed geological similarities with the KSM- Pretium belt. Colorado subsequently doubled its land- holdings in the immediate area of KSP with its acquisition of the Kingpin prop- erty, thus totalling an area of > 65 km long between the past Producing Granduc and Snip Mines. The >300 km 2 KSP property covers over 48 mineral occurrences and >100 km 2 areas British Columbia Arizona C A N A D A U S A Van Dyke Sombrero Butte Mineral Mountain Schaft Creek Phoenix Tucson Eaglehead Stewart Dease Lake Vancouver TSX.V: CUU 403-264-2820 Toll Free 844-464-2820 investor@copperfoxmetals.com www.copperfoxmetals.com Canadian Exploration and Development Company Focused on copper in Canada and the USA Large holdings of copper and gold reserves and resources Exploring within established copper districts