LONDON, April 14, 2021 /PRNewswire/ -- Phoenix Copper Ltd
(AIM: PXC, OTCQX: PXCLF), the AIM quoted USA focused base and precious metals emerging
producer and exploration company, is pleased to announce the
addition of 58 unpatented lode claims and 56 unpatented mill site
claims to the Empire Mine claim group to expand the operational
footprint of the proposed ore haulage route and processing area.
The Company's land holdings can be viewed on the Phoenix website at
www.phoenixcopperlimited.com.
Ryan McDermott, Chief
Executive Officer, commented:
"We recently added 1,160-acres of unpatented claims to the
Empire claim group. The additional acreage is comprised of 58
lode claims and 56 mill site claims located east of the Empire Mine
on lands between the proposed open-pit and the processing
area. These additional claims will allow us to make
adjustments in the size and position of the haulage routes and
ancillary processing areas, and as our engineers work through the
design planning phase and adjust for topography, slope, and other
design parameters.
"The addition of the new claims has increased the Company's
total holdings from 5,717-acres to 6,877-acres."
Empire Mine Polymetallic Open Pit Oxide Deposit –
Mackay, Idaho
In October 2020, an updated NI
43-101 compliant resource was completed by Hardrock Consulting
(HRC) and reported for the polymetallic Empire Mine open pit oxide
deposit. The updated resource showed a 51% increase in the Measured
and Indicated category from the previous year's resource. Including
the Inferred resources, the Empire open-pit oxide deposit now
contains 129,641 tonnes of copper, 58,440 tonnes of zinc,
10,133,772 ounces of silver and 355,523 ounces of gold.
Phoenix is making progress with
the feasibility and permitting of the polymetallic resource, most
recently completing three years of environmental studies directly
applicable to the permitting and mine planning. Discussions
are underway with potential debt financiers to construct the
project, with a production target for late 2022.
Contacts
For further information please visit
www.phoenixcopperlimited.com or contact:
Phoenix Copper
Limited
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Ryan
McDermott
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Tel: +1 208 954
7039
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|
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Dennis
Thomas
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Tel: +44 7827 290
849
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Richard
Wilkins
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Tel: +44 7590 216
657
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SOURCE Phoenix Copper Limited