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Phoenix cracks 10% copper in Empire drill hole

US-focused explorer and developer Phoenix Global Mining (AIM:PGM) is feeding high-grade drill hits into the updated mineral resource for the Empire copper project in Idaho due to be reported at the end of March, final assays from its 2018 drilling show.
Phoenix cracks 10% copper in Empire drill hole Phoenix cracks 10% copper in Empire drill hole Phoenix cracks 10% copper in Empire drill hole Phoenix cracks 10% copper in Empire drill hole Phoenix cracks 10% copper in Empire drill hole

Phoenix is working on an updated mineral resource estimate at Empire

Staff reporter

Phoenix said the results were strong, with copper values of 7.14% copper, 5.94 g/t gold, and 76 g/t silver found over 1.5m outside of the resource pit shell.

Highlights from the last seven holes of drilling were step-out sulphide intercepts of 6.1m of 3.78% copper equivalent from 126.5m depth, including 1.5m of 12.8% copper equivalent from 129.5m depth; and stepout oxide intercepts of 4.6m of 1.1% copper equivalent from 41.4m depth, including 1.5m of 1.75% copper equivalent from 42m depth.

Other highlights were infill oxide intercepts of 1.5m of 2.11% copper equivalent from 32m depth and 1.5m of 1.1% copper equivalent from 42.7m depth.

Phoenix has completed a total of 8,604m of drilling at Empire Mine, comprising 6,328m of reverse circulation drilling and 2,276m of diamond drilling.

Earlier in February, Phoenix raised £950,000 (US$1.23 million) to keep the project moving along.

CEO Dennis Thomas said the results had been consistent with expectations.

"Of particular note is the high-grade sulphide intercept of 12.8% copper equivalent …This drill hole intercept aligns with a nearby, historically drilled intercept of similar sulphide grade and adds credence to the larger, high-grade sulphide picture that is beginning to develop," Thomas said, adding mineralisation was also open to the west and at depth.   

Broker and nomad SP Angel said the 2018 drilling had included "strongly mineralised intercepts located beyond the margins of the current pit shell suggesting that the forthcoming mineral resource update has scope for an expansion of the current resource tonnage".

"The intersection of high-grade sulphide mineralisation in the drilling begins to show the potential of the deeper level primary mineralisation beneath the planned oxide pit," SP Angel said.

Away from Empire and copper, Thomas said Phoenix had received the last of the 2018 rock chip sample assays for its Bighorn and Redcastle cobalt projects and the results would be released in the near future.

 

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