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Phoenix Global Mining Ltd.
Summary
| Project: | Empire Copper Mine | |
|---|---|---|
| Deposit: | Empire Copper Mine, RedStar | |
| Location: | United States | |
| Commodities: | Copper-Gold-Silver-Zinc | |
| Date: | 12/3/2018 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-12-2018: Phoenix Global Mining Ltd. announces an Exploration/Drilling Update report for its Empire Copper Mine, RedStar deposit at the Empire Copper Mine project. Drilling results incl. 15.24m @ 0.13% Cu, 1.40% Zn, 2.83% Pb, 159.85g/t Ag, 0.06g/t Au fro | |
| Resources: | (Resource, Inf.): 12.8Mt @ 0.53% Cu for 68.2kt Cu contained at Empire | |
| CP/QP: | [Overall Report]: Roger Turner (Internal) | |
| ABSTRACT: | Dennis Thomas, Chief Executive Officer, said, "The drilling results from the recently discovered RedStar Zone, together with the surface sampling results reported on 30 October 2018, help confirm that the Empire mineralised system extends well beyond the near surface copper-oxide resource which is currently the subject of our Empire Mine Feasibility Study. The 1,837-acre property is developing into a district-scale opportunity. Assay results of 360 g/t silver and 9.92% lead over 9.1 m, along with a 1.5 m intercept of 1,111 g/t silver and 20% lead, confirm the Company's original hypothesis that the Empire Mine's mineralisation zone is part of a considerably larger mineralised system which includes the RedStar Zone and the Horseshoe Block."The RedStar Zone and the Horseshoe Block to the north appear to be the "upper" portion of the whole mineralised system with an underlying zone of Empire Mine style copper, zinc, gold and silver mineralisation. The RedStar Zone drilling results, coupled with the precious and base metal production history in the Horseshoe Mine itself, are further evidence of the potential existence of a major orebody along the 3.5 km strike. We have only now begun to understand the full scale of the opportunity."Systematic mapping, sampling and drilling work outside the oxide resource envelope will certainly continue and we will build on the latest information from the RedStar Zone to confirm the continuity of the mineralisation to the north-northwest from the Empire Mine."We believed we would find evidence of additional mineralisation by continuing exploration along the whole 3,500 m length of known mineralisation within the property boundary and investigating the mineralised outcroppings and old workings within this large mineralised system. The recent RedStar Zone results appear to be justify our decision."Finally, the drilling programme around the oxide resource envelope at Empire Mine zone continues to return robust results from both the infill holes and stepout drill holes. Infill holes are targeted to upgrade and increase resources within the preliminary pit outline, while step out holes are designed to expand the resource outline. This drilling will enhance the new resource estimate scheduled for completion in the first quarter of next year. High-grade copper and silver assays, most notably 1.37 m grading 12.05% copper and 444 g/t silver and 49.5 m of 0.57% copper with 11.74 g/t silver, continue to demonstrate the continuity of the oxide resource and provide additional evidence for high grade sulphide at depth. | |
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