Business
ExGen Resources Announces Results of Sulphide Zone Exploration Drilling
VANCOUVER, British Columbia, Feb. 08, 2018 (GLOBE NEWSWIRE) -- ExGen Resources Inc. (TSX.V:EXG) (OTC:BXXRF) ("ExGen") is pleased to provide an update in respect
About this update from Exgen Resources Inc.
[{"type":"text","content":"VANCOUVER, British Columbia, Feb. 08, 2018 (GLOBE NEWSWIRE) -- ExGen Resources Inc. (TSX.V:EXG) (OTC:BXXRF) (\"ExGen\") is pleased to provide an update in respect of Phoenix Global Mining Ltd.’s (“Phoenix”) exploration and development activities at the Empire Mine Project in Idaho, USA. Further to previous ExGen news releases, ExGen owns 20% and Phoenix owns 80% of Konnex Resources, Inc. (\"Konnex\"), which holds the leases to the Empire Mine Project. ExGen further has a 2.5% NSR royalty on the Empire Mine Project and owns 11,300,000 Phoenix common shares. ExGen is pleased to report that Phoenix has received the analytical results from deep core drilling at its Empire Project in Custer County, Idaho. As a prelude to the underground sampling program below the oxide zone at Empire two scout diamond drill holes totalling 534 metres were completed in early December. These were drilled from surface to determine geological structure beyond the old workings and specifically to locate the skarn structures which host the mineralisation. Highlights The two scout holes have demonstrated that favourable primary sulphide ore hosting geology is present below the proposed open pit oxide zone and confirms the presence of the predicted larger sulphide zone beneath the present oxide zone Both holes intersected the skarn structures over much of their length Much of the core is mineralised throughout its length, with higher grade polymetallic values being returned, including significant occurrence of tungsten values Mineralized intercepts underlying the Empire oxide zone: 4.6 m @ 2.45% Cu Equivalent 10.7 m @ 1.02% Cu Equivalent Drilling ProgramThe Company’s drilling contractor, AK Drilling Inc., completed the deep core hole program in early December 2017. HQ-diameter drill holes KXD17-8, KXD17-9 and KXD17-10 were angle drilled to depths of 314m, 67m, and 266m, respectively. Hole KXD17-9 encountered underground workings and was abandoned at 67m depth and re-collared as KXD17-10. The following is a summary of the analytical results for drill holes KXD17-8 and KXD17-10. Hole Intersection Metres % gms / tonne Number From To Interval Cu Eq T Cu Zn W Ag Au KXD17-10 73.2 83.9 10.7 1.02 0.42 0.74 0.03 12.6 0.01 including 76.3 77.8 1.5 2.52 0.47 1.83 0.21 23.1 0.03 including 82.4 83.9 1.5 1.78 1.19 0.71 0.01 24.0 0.02 and 213.5 218.1 4.6 2.45 1.34 0.8...