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ExGen Resources: Report Confirms Significant Potential at the Red Star Silver Deposit
VANCOUVER, British Columbia, Dec. 03, 2020 (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, Dec. 03, 2020 (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 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 has a 2.5% NSR royalty on the Empire Mine Project and owns 1,330,000 common shares of Phoenix. ExGen is pleased to report that Phoenix, (the operator of the Empire Mine Project), has completed a mapping and evaluation program of the Red Star magnetite-bearing skarn body formed at the contact of the Mackay Granite and White Knob Limestone. The program, which was conducted to better characterize the North Pit mineral resource potential, included creation of a geologic map of the North Pit region, examination of drill core and creation of a model of the mineralization to assist and guide future drilling. The work was conducted by David W. Rodgers, Ph.D., Consultant Structural Geologist to Phoenix. His report ““Geologic Mapping and Structural Analysis in the North Pit Region, Mackay Mining District, 9 November 2020” can be found on Phoenix Copper’s website at www.phoenixcopperlimited.com in the \"Reports\" section. Highlights: The report confirms the potential of further high-grade silver and lead at Red Star The report confirms the likely extension of Red Star through to the historically mined high grade Horseshoe and White Knob claim blocks The report highlights the association of high-grade silver mineralisation with the magnetite-bearing skarn formation, thus allowing a magnetic geophysical survey to optimise an ongoing targeted drilling program Dr. Rodgers is familiar with the geology of the Company’s Empire Mine property and the region as a whole. He was the structural geology professor in the Idaho State University (ISU) Department of Geology from 1985 to 2010, Associate Dean of ISU College of Science and Research from 2010-2018, and is currently the Associate Vice-President for Research at ISU. During Dr. Rodgers’ tenure as a structural geology professor, he mapped extensively in the Central Idaho area, including the more distal extents ...