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Exgen Resources Inc.
Summary
| Project: | Empire Copper Mine | |
|---|---|---|
| Deposit: | Empire Copper Mine | |
| Location: | United States | |
| Commodities: | Copper-Gold-Silver-Zinc | |
| Date: | 9/13/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 13-9-2018: Exgen Resources Inc. announces an Exploration/Drilling Update report for its Empire Copper Mine deposit at the Empire Copper Mine project. Drilling results incl. 68m @ 0.57% Cu, 0.09% Zn, 0.01ppm W, 0.22g/t Au, 12.10g/t Ag from 0.0m. VANCOUVER, | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Jack McClintock (Internal) | |
| ABSTRACT: | VANCOUVER, British Columbia, Sept. 13, 2018 -- ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen”, the “Company”) is pleased to provide an update in respect of Phoenix Global Mining Ltd.’s (“Phoenix”) exploration and development activities at the Empire Mine Project in Idaho, USA. Further to previous ExGen news releases, ExGen owns 20% and Phoenix owns 80% of Konnex Resources, Inc. (“Konnex”), which holds the leases and claims to the Empire Mine Project. ExGen further has a 2.5% NSR royalty on the Empire Mine Project and is one of Phoenix’s largest shareholders, owning 1,330,000 common shares (4.18% of Phoenix). ExGen is pleased to announce encouraging results from the Company’s 2018 drilling programme at the Empire Copper Mine in Idaho, USA (the “Empire Mine”). Dennis Thomas, Chief Executive Officer, commented, “We are pleased to present the assay results received to date from the 2018 Empire drill programme. The step out drilling portion of the programme is only partially complete, and the results are encouraging. Notable intervals of 12.2 metres of 0.95% copper, 13.7 metres of 0.64% copper and 6.1 metres of 1.09% copper have been reported in previously untested areas. This is of major significance as all the mineralised intercepts are outside of the November 2017 Resource Model reported by Hardrock Consulting. This previously untested ground is still open to the east and at depth, and we are currently targeting follow-up drilling to be completed in the next two months. In addition to these holes, we are drilling possible mineralised extensions on both the north and the south ends of the project and we await the assay results from these holes with interest. “Our infill drilling programme, which is designed to upgrade the inferred resources to the measured and indicated category, shows robust results and this programme will also be completed in the next two months. All new results will be used to update the resource model in which average grade of the ‘measured and indicated’ resource is 0.52% copper. Our hope is that continued drilling results similar to those reported herein will have a positive effect on the overall grade and tonnage, which will materially enhance the economics of the project. | |
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