Copper Fox Metals Inc. (TSXV: CUU | OTCQX: CPFXF | FSE: HPU) reported on August 6, 2026 that diamond drillhole MM-02-2025 at its 100%-owned Mineral Mountain porphyry copper project in Arizona intersected 278.97 metres of copper-molybdenum mineralization from 1,379.00m to 1,657.97m depth, with grades locally up to 1.48% copper and 0.313% molybdenum, according to the company's August 6, 2026 news release.
Silver and rhenium values also returned progressively increasing readings within that same interval, per the August 6 release.
The hole confirmed the presence of a large, evolved porphyry copper-molybdenum system and intersected the outer portion of a mineralized copper shell, with multiple geological indicators suggesting increasing mineralization at depth and proximity to the core of the system, per the same release.
Earlier preliminary results, covering the shallower interval from 896m to 1,394m, returned copper from 12.9 to 2,032 ppm (up to 0.203%), molybdenum from 1.0 to 515 ppm (up to 0.051%), and silver from 0.1 to 4.5 ppm, per the August 6 release.
The deeper interval — 1,394m to 1,697m — is where the company interprets the higher-grade potassic core to sit. Assays for that section remain pending.
President and CEO Elmer B. Stewart stated: "The concentrations of copper-molybdenum intersected in the lower portion of DDH MM-02-2025 are comparable to and within the range of copper-molybdenum grades seen in other Laramide age porphyry deposits in Arizona."
Per the August 6 release, Mineral Mountain sits approximately 25 kilometres southwest of the Resolution porphyry copper-molybdenum deposit — operated by Rio Tinto and BHP — and roughly 20 kilometres northeast of the recently commissioned Florence copper mine, within a northeast-trending Laramide porphyry belt. Mineral Mountain is held 100% through Desert Fox Mineral Mountain Co., a wholly owned subsidiary.
Copper Fox's broader portfolio carries 7.4 billion pounds of copper equivalent across five porphyry projects in British Columbia and Arizona, anchored by a 25% carried interest in the Schaft Creek Joint Venture, operated and funded by Teck, per the August 6 release.
On the balance sheet: as of the date of the August 6 news release, the company's cash position stood at $1,308,194, up from $306,730 as of January 31, 2026, per the same release.
The macro backdrop as of the week ended August 8, 2026 was broadly constructive for resource equities: December gold settled at $4,399.70 per ounce, up $100.10 or 2.33% on the session and up over 7% for the week, per eregal.com. The S&P 500 posted a 3.6% weekly gain and the Nasdaq climbed 5.2% for the same period, per CNBC.
The next material event for Copper Fox is the release of assay results for the 1,394m to 1,697m section of MM-02-2025. Per the August 6 release, those results will inform an updated technical assessment and the design of a follow-up drilling program to test the interpreted higher-grade potassic core at depth.