Business
ExGen Resources Provides Empire Mine Project Update
VANCOUVER, British Columbia, Aug. 24, 2023 (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, Aug. 24, 2023 (GLOBE NEWSWIRE) -- ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen”, the “Company”) is pleased to provide an update in respect of Phoenix Copper Ltd.’s (“Phoenix”) exploration and development activities at the Empire Mine Project in Custer County, Idaho, USA. Further to previous ExGen news releases, ExGen owns 20% and Phoenix owns 80% of Konnex Resources, Inc. (“Konnex”), which holds the leases and claims to the Empire Mine Project. ExGen further owns 1,330,000 common shares of Phoenix. Directors of ExGen conducted a site visit of the Empire Project on July 17th – 19th in the company of Ryan McDermott, CEO of Phoenix Copper, to appraise progress on the project. ExGen was pleased to note significant progress in metallurgical testing of ATS, an environmentally friendly agent, on mineralization from the Empire Mine open pit which may allow the recovery and processing of copper, gold and silver in one process. Testing is ongoing. ExGen is also excited that drilling has started on the Navarre Creek prospect – 60 holes are planned. This large claim block (14.48 km² (3,577 acres)) represents over 6 kms of prospective strike length, including an area of secondary alteration thought to be epithermal in nature, with over 2.5 kms of highly brecciated, west-trending jasperoid intersecting argillically and silicically altered Eocene Challis volcanics. The drilling, with success, has the potential to be a major game-changer for the project. Jason Riley, CEO of ExGen commented: “ExGen is excited about this maiden drill program at Navarre Creek. The project has the potential to be a true company maker and we eagerly await future progress updates and assay results.” EMPIRE MINE As reported by Phoenix on June 6, 2023, preliminary metallurgical testing of the Empire Mine open pit oxide material using ammonium thiosulfate (\"ATS\") as a reagent, has been completed by Resource Development Inc of Wheat Ridge, Colorado (\"RDI\"), and has resulted in robust metallurgical recoveries of copper, gold and silver using representative bulk samples of mineralization from metallurgical drilling at the Empire Mine open pit oxide deposit. ATS is considered an environmentally friendly reagent, intended to replace the use of sulphuric acid and cyanide in the recovery and processing of copper an...