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Canada
Schaft Creek Project

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 Location:
132 km SW from Dease Lake, British Columbia, Canada

  Project Contacts:
Suite 3300, Bentall 5 550 Burrard Street
Vancouver
British Columbia, Canada
V6C 0B3
Phone  ...  Subscription required
Fax604-699-4750
EmailEmail
WebsiteWeb
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  • Fleet
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  • Filings & News

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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • Copper
  • Molybdenum
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Mine Life21 years (as of Jan 1, 2021)
Latest NewsCopper Fox Provides Final Analytical Results for 2022 Metallurgical Drilling Program at Schaft Creek Project     February 21, 2023


Owners

Source: p. 62
CompanyInterestOwnership
Copper Fox Metals Inc. 25 % Indirect
Teck Resources Ltd. (operator) 75 % Indirect
The Project is managed through the Schaft Creek JV. Teck is the operator and holds a 75% interest. Copper Fox holds the remaining 25% interest.

Contractors

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Deposit Type

  • Porphyry
  • Breccia pipe / Stockwork
  • Vein / narrow vein


Summary:

The Schaft Creek deposit has been described by many workers as a calc-alkaline Cu-Mo-Au porphyry deposit (Fox et al., 1995; Spilsbury, 1995; Scott et al., 2009; Morrison and Karrei, 2012). Other workers have considered it a shear-hosted, low-sulphidation Cu-Mo-Au-Ag vein deposit (Le Boutillier, 2013). Early mapping assigned the intrusive host rocks of the Schaft Creek deposit to the Early Jurassic (e.g., Logan and Drobe, 1993), but subsequent geochronology work constrained the age of the host rocks to the Late Triassic (Logan et al., 2000; Scott et al., 2009; unpublished U-Pb dating by Richard Friedman, University of British Columbia; unpublished U-Pb dating by Jim Crowley, Boise State University). Interpretation of the deposit is complicated by a lack of outcrop, complex hydrothermal alteration, post-mineral faults, and sparsity of drilling near the fringes of the hydrothermal system.

The deposit has historically been subdivided into two or three distinct mineralized zones, although the boundaries of this subdivision have changed during the history of the Project. These three mineralized zones are named the Liard, Paramount, and West Breccia Zones. Historically, the West Breccia and Liard Zones have been grouped by some workers into a larger domain called the Main Zone. Other workers have grouped the Paramount and West Breccia Zones into a single domain called the Breccia Zone.

Liard Zone
The Liard Zone comprises narrow, porphyritic quartz monzonit ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The mine plan is based on a conventional open pit truck-and-shovel operation. The primary loading units will be the electric rope shovels with 45 m3 buckets. Hauling will be performed using 360 t haul trucks. A stockpiling strategy has been completed to allow the mine to give priority to higher-value material for processing and to ensure that the required mill feed is maintained. A variable cut-off grade was applied on a year-by-year basis, based on the available mineralized material for the period.

Waste rock from the pit will be stored in the east and west rock storage facilities (RSFs). The total capacity for rock storage is 571.1 million m3. Some of the mined-out waste rock from the pit will be used for embankment construction.

Over the 21-year life of mine (LOM), the open pit will be producing 1.03 billion tonnes (Bt) of waste rock and 1.03 Bt of mill feed with average grades of 0.26% Cu, 0.16 g/t Au, 0.017% Mo, and 1.23 g/t Ag. The overall LOM strip ratio is approximately 1.


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Copper Metal in concentrate M lbs 2384,995
Copper Concentrate kt 3858,091
Molybdenum Concentrate kt  ......  Subscription required  ......  Subscription required
Molybdenum Metal in concentrate M lbs  ......  Subscription required  ......  Subscription required
Gold Metal in copper conc. koz  ......  Subscription required  ......  Subscription required
Silver Metal in copper conc. koz  ......  Subscription required  ......  Subscription required
Copper Equivalent Metal in concentrate M lbs  ......  Subscription required  ......  Subscription required

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Daily processing capacity  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing rate  ......  Subscription required
Annual mining rate  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

Reserves at January 15, 2021:
Mineral Resources are reported within a conceptual constraining pit shell that includes the following input parameters: $3/lb Cu, $10/lb Mo, $1,200/oz Au, $20/oz Ag, mining cost of CA$1.95/t mined, processing cost of CA$4.94/t processed and pit slope angles that vary from 40–44º. Metal recoveries; Cu 86.6%, Au 73%, Mo 58.8%, Ag 48.3%.
Mineral Resources are reported using a net smelter return cut-off of US$4.31/t, and a Cdn$ to US$ exchange rate of 1.20. Metal prices are in $US.

CategoryTonnage CommodityGradeContained Metal
Measured 176 Mt Copper 0.32 % 1,262 M lbs
Measured 176 Mt Molybdenum 0.018 % 71 M lbs
Measured 176 Mt Gold 0.22 g/t 1.28 M oz
Measured 176 Mt Silver 1.46 g/t 8.26 M oz
Indicated 1,169 Mt Copper 0.25 % 6,503 M lbs
Indicated 1,169 Mt Molybdenum 0.017 % 440 M lbs
Indicated 1,169 Mt Gold 0.15 g/t 5.69 M oz
Indicated 1,169 Mt Silver 1.22 g/t 46 M oz
Measured & Indicated 1,346 Mt Copper 0.26 % 7,764 M lbs
Measured & Indicated 1,346 Mt Molybdenum 0.017 % 511 M lbs
Measured & Indicated 1,346 Mt Gold 0.16 g/t 6.97 M oz
Measured & Indicated 1,346 Mt Silver 1.25 g/t 54.25 M oz
Inferred 344 Mt Copper 0.17 % 1,303 M lbs
Inferred 344 Mt Molybdenum 0.013 % 96 M lbs
Inferred 344 Mt Gold 0.11 g/t 1.18 M oz
Inferred 344 Mt Silver 0.84 g/t 9.28 M oz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Copper USD  ......  Subscription required&nbs
Cash costs Copper USD  ......  Subscription required *†
All-in sustaining costs (AISC) Copper USD  ......  Subscription required *†
Assumed price Molybdenum USD  ......  Subscription required&nbs
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2021
OP mining costs ($/t mined) USD 1.56 *
OP mining costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 8% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Pipelines
TypeMaterialDiameterLengthDescription


Proposed Heavy Mobile Equipment as of September 10, 2021:
HME TypeModelSizeQuantity
ANFO Loader ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 10, 2021
....................... Subscription required ....................... Subscription required Subscription required Nov 8, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
Press Release 2016
Feasibility Study Report 2013
Subscription required - Subscription is required.

News:

NewsDate
Copper Fox Provides Final Analytical Results for 2022 Metallurgical Drilling Program at Schaft Creek Project February 21, 2023

Subscription required - Subscription is required.

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