Business
70% Increase in Empire Mine Land Position
70% Increase in Empire Mine Land Position.
About this update from Phoenix Copper Ltd. (united Kingdom)
[{"type":"text","content":"\n \nRNS Number : 3434Y Phoenix Global Mining Ltd 05 December 2017 \n\nPhoenix Global Mining Ltd / Ticker: PGM / Index: AIM / Sector: Mining\n5 December 2017\nPhoenix Global Mining Ltd ('Phoenix' or the 'Company') \n70% Increase in Empire Mine Land Position & Extension of Exploration Area \n \nPhoenix Global Mining Ltd (AIM:PGM.L), the AIM quoted, US-focused copper and cobalt exploration and development company, is pleased to announce that it has expanded the land position of the Empire Copper Mine in Idaho, USA (the 'Empire Mine') with the addition of 33 unpatented mining claims in the Horseshoe Block immediately north of the existing property. \n \nHighlights:\n \no 33 mining claims (564 acres) acquired around the previously producing Horseshoe Mine, along strike and to the north of the Empire Mine orebody \no The Empire Mine land position increases by 70% from 819 acres to a total land package of 1,383 contiguous acres\no The new claims extend the exploration area to the north of the existing AP open pit resources by approximately 1.2 kilometres\no Recorded copper, lead, zinc, silver and gold production from the Horseshoe Block as recently as 1979 with reported grades of 3.8% copper and 12% zinc\no Claims staked and registered in the name of Phoenix's subsidiary Konnex Resources Inc., for a cost of US$6,995\n \nDennis Thomas, the Company's CEO, said, \"The addition of the Horseshoe Block to the Empire Mine property package nearly doubles our previous footprint, is contiguous to our existing land position and extends the exploration area along strike to the north of the existing resources in the AP Pit by approximately 1.2 kilometres. The surface geology, as well as the historically recorded copper, lead, zinc, silver and gold production from the numerous workings in the Horseshoe Block, provide solid evidence that mineralisation is not limited to the immediate Empire Mine resource area. The Horseshoe Block also provides us a greater footprint for future operations in the existing resource area for minimal cost.\" \n \nTo view a map showing the land position increase, visit the Company's website at: https://www.pgmining.com/overview. \n \nHistorical Production\n \nHistorical production from numerous adits and shafts in the Horseshoe Block, i...