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Exgen Resources: JV Partner Drills Sulphide Mineralization Values of 7.14% Copper (“Cu”), 5.94 G/T Gold (“Au”), and 76 G/T Silver (“Ag”) Over 1.5 Metres (“M”) Outside of the Current Resource
VANCOUVER, British Columbia, Feb. 26, 2019 (GLOBE NEWSWIRE) -- ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen”, the “Company”) is pleased to provide an u
About this update from Exgen Resources Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 26, 2019 (GLOBE NEWSWIRE) -- ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen”, the “Company”) 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 a free carried 20% interest through to start of construction and Phoenix owns 80% of Konnex Resources, Inc. (“Konnex”), which holds the leases and claims to the Empire Mine Project. ExGen further has a 2.5% NSR royalty on the Empire Mine Project and is one of Phoenix’s largest shareholders, owning 1,330,000 common shares (3.45% of Phoenix). ExGen is pleased to announce that it has received the final set of assay results from the 2018 drill program conducted by its Joint Venture partner, Phoenix, at the Empire Copper Project in Idaho, USA (the ‘Empire Mine’). The previous results of the 2018 drilling program were published in September, early October, November and December and can be found under the Company’s filings on the SEDAR web site at https://www.sedar.com/. Mr. Jason Riley, CEO of ExGen commented: “We are very pleased with the final round of results from Empire that continue to intercept significant grades in both infill and stepout drilling. We look forward to the updated resource estimate during Q2 this year.” Dennis Thomas, CEO of Phoenix, said, “We are pleased to present the results of the last seven drill holes from the 2018 Empire drill program. The results include infill and stepout drilling in the north-western portion of the Empire property and are consistent with our expectations. … In addition, the KX18-62 sulphide intercept is open to the west and at depth.” DRILLING UPDATE Phoenix has now completed a total of 8,604 m of drilling at the Empire Mine, consisting of 6,328 m of reverse circulation (“RC”) drilling and 2,276 m of diamond drilling. All of the assays from the 2018 drilling, channel, and rock chip sampling have been received. The final RC drill hole results for the 2018 drilling season are KX18-58 through to KX18-64 and are shown below. The results from the Phoenix drilling programmes in 2017 and 2018 can be found on the Phoenix website at www.pgmining.com. EMPIRE MINE DRILLING RESULTS Drill Hole Depth Composite True Width % g/t % % Drill Hole Number Fro...