TAHLTAN CENTRAL GOVERNMENT – INDUSTRY REPORT 2022
MINERAL EXPLORATION COMPANY
SCHAFT CREEK JOINT VENTURE
Schaft Creek Joint Venture – Owned 75% by Teck Resources Ltd. (Teck) and 25% by Copper Fox Metals (Copper Fox).
PROPERTY LOCATION & ACQUISITION DATE
PROJECT ACTIVITIES IN THE 2021 SEASON
The Schaft Creek deposit was discovered in the mid 1950’s. The project is managed through the Schaft Creek Joint Venture (SCJV). Teck is the Operator of the SCJV and holds a 75% interest with Copper Fox holding the remaining 25%. Teck has held an interest in the project since the early 1980’s. Pursuant to an Option Agreement Copper Fox earned 100% interest in the Schaft Creek project in 2010. In 2013, Teck exercised its 75% “back-in” right pursuant to a 2002 Option Agreement and assumed Operatorship. Copper Fox has been involved in the project since 2003.
The 2021 Schaft Creek program completed 835 metre of diamond drilling in 4 holes. Additional work included pad building, core cutting and core logging, as well as environmental baseline studies. In addition to field work, Copper Fox completed a Preliminary Economic Assessment (PEA) in 2021 with a positive long-term outlook for the project.
COMPANY OVERVIEW & UPDATE Vancouver, BC
Any successes or challenges you’d like to share?
teck.com copperfoxmetals.com
The poor fall weather in 2021 made the field season challenging, as we only drilled 835 metres of a planned 4,000 metres, but the field crews all worked safely with no incidents and no COVID cases. There had not been a drill program at Schaft Creek since 2015 so it was good to get back to assess the status of the camp and prepare for future activities.
CONTACTS GENERAL INQUIRIES, LEADERSHIP, CONTRACTING & EMPLOYMENT
Mike Takaichi Project Manager
Number of employees working on your project(s)?
604 699 4382 mike.takaichi@teck.com
Two full time Teck employees are assigned to the Schaft Creek project.
Right: Schaft Creek Project location map.
Where does the majority of your financing come from year to year? What’s the breakdown of who owns your company and what’s your company’s market cap? Teck Resources Limited (Canadian) is financing the Schaft Creek project at this stage. The Schaft Creek Joint Venture is not a listed company. The Schaft Creek Joint Venture (SCJV), where Teck Resources Limited (Teck) is the Operator, Teck holds a 75% interest with Copper Fox holding the remaining 25%.
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Tentative plans and hopes for the 2022 season? We are planning for a field season consisting of 5,000 metre drilling and environmental baseline work. To accomplish this, we will need to refurbish the Schaft Creek Camp so the program can be based on site. The camp has not been in use since 2015. Additional work will include pad building, core logging and core cutting. The drill program will consist of geotechnical drilling and drilling within the deposit for metallurgical sampling
