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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: | 2/8/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 8-2-2018: Exgen Resources Inc. announces an Exploration/Drilling Update report for its Empire Copper Mine deposit at the Empire Copper Mine project. Drilling results incl. 4.6m @ 1.34% Cu, 0.82% Zn, 0.01% W, 27.5g/t Ag, 0.72g/t Au from 213.5m. VANCOUVER, | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Roger Turner (Internal) | |
| ABSTRACT: | VANCOUVER, British Columbia, Feb. 08, 2018 -- ExGen Resources Inc. (TSX.V:EXG) (OTC:BXXRF) ("ExGen") 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 to the Empire Mine Project. ExGen further has a 2.5% NSR royalty on the Empire Mine Project and owns 11,300,000 Phoenix common shares. ExGen is pleased to report that Phoenix has received the analytical results from deep core drilling at its Empire Project in Custer County, Idaho. As a prelude to the underground sampling program below the oxide zone at Empire two scout diamond drill holes totalling 534 metres were completed in early December. These were drilled from surface to determine geological structure beyond the old workings and specifically to locate the skarn structures which host the mineralisation. The Company’s drilling contractor, AK Drilling Inc., completed the deep core hole program in early December 2017. HQdiameter drill holes KXD17-8, KXD17-9 and KXD17-10 were angle drilled to depths of 314m, 67m, and 266m, respectively. Hole KXD17-9 encountered underground workings and was abandoned at 67m depth and re-collared as KXD17-10. Copper Equivalent (CuEq) is used for illustrative purposes, to express the combined value of copper and gold as a percentage of copper. No allowances have been made for recovery losses that would occur in a mining scenario. CuEq is calculated on the basis of $3.18 per pound of copper, $1.56 per pound of zinc, $14.43 per pound of tungsten, $17.11 per troy ounce of silver, and $1,336.83 per troy ounce of gold. | |
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