Business
Copper-Cobalt Properties in Idaho
Copper-Cobalt Properties in Idaho.
About this update from Phoenix Copper Ltd. (united Kingdom)
[{"type":"text","content":"\n \nRNS Number : 3919U Phoenix Global Mining Ltd 24 October 2017 \n\nPhoenix Global Mining Ltd / Ticker: PGM / Sector: Mining\n24 October 2017 \n \nPhoenix Global Mining Ltd ('Phoenix' or the 'Company')\n \nAddition of Copper-Cobalt Properties in Idaho \n \nPhoenix Global Mining Ltd (AIM:PGM), the AIM quoted, US exploration and development company working on the development of the Empire Mine in Idaho, is pleased to announce that it has added two highly-prospective copper-cobalt properties in the Idaho Cobalt Belt, Lemhi County, Idaho, USA, to its portfolio through its wholly owned Idaho registered company, Borah Resources Inc (\"Borah\"). Borah has staked and filed the Bighorn and Redcastle copper-cobalt properties. This is a notable achievement for a company of Phoenix's size given the interest in these properties and the commodity more generally. \n \nHighlights \n· Addition of two highly sought-after copper-cobalt properties in the Idaho Cobalt Belt:\no Bighorn Property - consists of 29 unpatented claims over 580 acres\no Redcastle Property - consists of 30 unpatented claims over 600 acres\n· Properties are located in a previously producing area near to the town of Cobalt in Idaho and are proximal to projects being advanced by Canadian junior miners\n· New wholly owned subsidiary Borah Resources Inc. to develop the copper-cobalt properties\n· Early stage exploration underway - drilling targets in 2018\n· Addition of copper-cobalt properties provides Phoenix with a broader commodity portfolio and exposure to two high demand technology metals with compelling demand/supply fundamentals \n· Borah will utilise substantial amount of in-house expertise gained by geological team at the Empire Mine \n \nDennis Thomas, the Company's CEO, said, \n\"We are very pleased to have finalised the addition of these highly sought-after properties following a period of substantial interest in cobalt given its price increase from US$25,000 a tonne to US$62,500 in the past 12 months. The geological team based at the Empire Mine identified these properties following their previous experience of working on the Cobalt ...