TIDMPXC
Phoenix Copper Limited
05 January 2023
Phoenix Copper Limited / Ticker: PXC / Sector: Mining
5 January 2023
Phoenix Copper Limited
("Phoenix" or the "Company")
Phoenix Subsidiary Welcomes New General Manager
Phoenix Copper Ltd (AIM: PXC, OTCQX ADR: PXCLY), the AIM quoted
USA -focused base and precious metals emerging producer and
exploration company, is pleased to announce the appointment of
David Jarvis as the new General Manager of the Company's Idaho
registered operating subsidiary, Konnex Resources Inc
("Konnex").
Mr Jarvis has an extensive background managing mining operations
from exploration through production. His approximately 40 years of
project management and mine operation experience includes being
Managing Director for Eldorado Gold's operations in the People's
Republic of China and Vice President / General Manager for Coeur
Mexicana. His start-up experience includes Newmont's Batu Hijau
Mine in Indonesia and the Thompson Creek Mine in Idaho. Mr Jarvis
received a Bachelor of Science Degree in Mining Engineering from
the Pennsylvania State University and is a full-time resident of
Custer County, Idaho.
David Jarvis, General Manager of Konnex Resources, said : "I am
thrilled to join Konnex and have the opportunity to bring my global
experiences in the mining sector back to Custer County. It is a
very exciting and important time for Konnex as we finalize the
plans to bring the Empire open pit copper mine into development and
advance our neighboring exploration properties. The Konnex team is
very talented and I am eager to continue building on their great
work to date."
Ryan McDermott, Chief Executive Officer of Phoenix Copper
Limited, said : "Dave has wide-ranging experience in the mining
industry and will prove to be incredibly valuable to the Company.
For decades, Dave has successfully managed mine projects from the
beginning stages of exploration through to production. I have full
confidence that under his direction the Empire mine and our
surrounding properties will have their fullest potentials
realized."
David Jarvis replaces Zach Black as General Manager. Mr Black
will continue to support Konnex's operations as the Qualified
Person (QP) focusing on mining and process engineering.
Contacts
For further information please visit
www.phoenixcopperlimited.com or contact:
Phoenix Copper Ryan McDermott Tel: +1 208
Limited Brittany Lock 954 7039
Richard Wilkins Tel: +1 208
794 8033
Tel: +44 7590
216 657
SP Angel (Nominated David Hignell / K asia Brzozowska Tel: +44 20
Adviser) 3470 0470
----------------------------------- ---------------
Tavira Financial Jonathan Evans / Oliver Stansfield Tel: +44 20
Limited (Joint 7100 5100
Broker)
----------------------------------- ---------------
WH Ireland (Joint Harry Ansell / Katy Mitchell Tel: +44 207
Broker) 2201666
----------------------------------- ---------------
Panmure Gordon John Prior / Hugh Rich / Ailsa Tel: +44 20
(UK) Limited (Joint Macmaster 7886 2500
Broker)
----------------------------------- ---------------
EAS Advisors (US Matt Bonner / Rogier de la Tel: +1 (646)
Corporate Adviser) Rambelje 495-2225
----------------------------------- ---------------
BlytheRay Tim Blythe / Megan Ray Tel: +44 20
(Financial PR) 7138 3204
----------------------------------- ---------------
Notes
Phoenix Copper Limited is a USA focused, base and precious
metals emerging producer and exploration company, initially
targeting copper and zinc production from an open pit mine.
Phoenix's primary operations are focused near Mackay, Idaho in
the Alder Creek mining district, at the 80% owned Empire Mine
property, which historically produced copper at grades of up to 8%,
as well as gold, silver, zinc and tungsten, from an underground
mine.
Since 2017, Phoenix has carried out extensive drill programmes
which have defined a NI 43-101 compliant PEA (preliminary economic
assessment) for an open pit heap leach solvent extraction and
electrowinning ("SX-EW") mine, which was updated in October 2020.
The contained metal in all NI 43-101 compliant categories of
resources, Measured, Indicated and Inferred, stand at 129,641
tonnes of copper, 355,523 ounces of gold, 10,133,772 ounces of
silver and 58,440 tonnes of zinc. Phoenix updated its economic
model in February 2021 to include the processing of all contained
metals through a two phased approach.
In addition to Empire, the district includes the historic
Horseshoe, White Knob and Blue Bird Mines, past producers of
copper, gold, silver, zinc, lead and tungsten from underground
mines. A new discovery at Red Star, 330 metres northwest of the
Empire Mine proposed open pit, has revealed high-grade silver/lead
sulphide ore, and from three shallow exploration drill holes a
maiden inferred resource of 103,000 tonnes containing 173.4 g/tonne
silver, 0.85 g/tonne gold and 3.85% lead (1.6 million ounces silver
equivalent) was reported in an NI 43-101 technical report published
in May 2019. Additionally, the district includes Navarre Creek, a
volcanic hosted precious metals target in a 14.48 sq km area. The
Company's total land package at Empire comprises 8,034 acres (32.51
sq kms).
At Empire, it is estimated that less than 1% of the potential
ore system has been explored to date and, accordingly, there is a
significant opportunity to increase the resource through phased
exploration. The stated aim of the Company is to fund this phased
exploration through free cash flow generated by its initial mine. A
Plan of Operations in respect of the initial open pit mine was
filed with the relevant regulatory authorities in June 2021.
Phoenix also has two wholly owned cobalt properties on the Idaho
Cobalt Belt to the north of Empire. An Earn-In Agreement has been
signed with Electra Battery Materials, Toronto, in respect of one
of those properties.
Phoenix is listed on London's AIM (PXC), and trades on New
York's OTCQX Market (PXCLF and PXCLY (ADRs)). More details on the
Company, its assets and its objectives can be found on PXC's
website at https://phoenixcopperlimited.com/
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END
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