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Phoenix Global Mining Ltd.
Summary
| Project: | Empire Copper Mine | |
|---|---|---|
| Deposit: | Empire Copper Mine | |
| Location: | United States | |
| Commodities: | Copper-Gold-Silver-Zinc | |
| Date: | 11/15/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 15-11-2017: Phoenix Global Mining Ltd. announces a Resource Estimation report for its Empire Copper Mine deposit at the Empire Copper Mine project. 33% increase in resource estimate at Empire Mine oxide pit. Phoenix Global Mining Ltd (AIM:PGM.L), the AIM | |
| Resources: | (Resource, M+I): 11.485Mt @ 0.52% Cu, 0.14% Zn, 0.007oz/t Au, 0.31oz/t Ag at project | |
| CP/QP: | [Resources]: Zachary Black, Jeffery Choquette (Hardrock Mining Consulting LLC) | |
| ABSTRACT: | Phoenix Global Mining Ltd (AIM:PGM.L), the AIM quoted, US-focused copper exploration and development company, is pleased to announce a highly positive update on the JORC Resource (NI 43 101 Compliant) for the Empire Copper Mine oxide pit in Idaho, USA. Dennis Thomas, the Company's CEO, said, "We have made rapid progress this year with this latest milestone adding considerably more value to the Empire Mine. Since listing in June 2017, we have increased our total resource by 51% from the oxide pit, on a modest investment of US$1m, and increased the copper inventory to 90,547 tonnes, which is valued at US$612m based on today's copper price. Importantly, we have now begun to report the zinc (51,925t), silver (6.412 million ounces) and gold (165,686 ounces) contained within the copper resource."However, we believe this is just the beginning and we are only scratching the surface given that the exploration of the high-grade and potentially transformational sulphides has only just begun. We are expecting initial drill results from these deeper exploration targets as early as December 2017 and look forward to updating the market with these results in due course. We believe we have a valuable copper project, at a time when the demand fundamentals are very strong, in a safe, supportive and politically stable jurisdiction, and that we will be able to rapidly advance and crystallise its inherent value." | |
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