Business
Awarding of Contract for Electromagnetic Surveys
Awarding of Contract for Electromagnetic Surveys.
About this update from Phoenix Copper Ltd. (united Kingdom)
[{"type":"text","content":"\n \n \n \n RNS Number : 0263U\n Phoenix Copper Limited\n 31 March 2021\n \n \n \n Phoenix Copper Limited / Ticker: PXC / Sector: Mining \n 31 March 2021\n \n \n \n Phoenix Copper Limited\n (\"Phoenix\" or the \"Company\")\n \n \n Awarding of Contract for Electromagnetic Surveys of Red Star and Navarre Creek Projects\n \n \n \n Exercise of Warrants, Issue of Shares and \n \n \n Total Voting Rights \n \n \n \n \n \n \n Phoenix Copper Ltd (AIM: PXC, OTCQX: PXCLF), the AIM quoted North American focused base and precious metals emerging producer and exploration company, is pleased to announce that Magee Geophysical Services (\"Magee\") of Reno, Nevada, has been appointed to conduct geophysical surveys at the Company's Red Star silver-lead project and Navarre Creek gold project. These surveys will subsequently be processed and analysed to enable the exploration team to refine future targets for drilling and other exploration data. \n \n \n \n \n Ryan McDermott, Chief Executive Officer, commented:\n \"I am pleased to announce that we have appointed Reno-based Magee Geophysical Services to conduct ground-based electromagnetic (\"EM\") surveys at our Red Star, Horseshoe and Navarre Creek properties.\n \n \"In November 2020, the Company issued an independent report on \"Geologic Mapping and Structural Analysis in the North Pit Region, Mackay Mining District\" (the \"Report\") focusing on the Red Star silver project. The Report confirmed the relationship between magnetite and the high-grade silver and lead vein system at Red Star. The Report also suggested the possible extension of the vein system carrying through to the historically mined Horseshoe and White Knob mines some 2.5 kilometres to the north. The Horseshoe and White Knob vein systems are high-grade silver and lead veins similar in character to Red Star. With the exception of the discovery outcrop, discernible outcrops of rock at Red Star are rare and make it difficult to determine the underlying geology. The same difficulty arises when targeting drill holes. \n \n \"We believe that a well-planned EM survey will highlight the subsurface occurrence of magnetite veins and magnetite bodies, providing valuable information for further exploration and drill hole targeting. \n \n \n \n \n \"Similar...