Business
Drill results to support an increased resource
Drill results to support an increased resource.
About this update from Phoenix Copper Ltd. (united Kingdom)
[{"type":"text","content":"\n \nRNS Number : 7193S Phoenix Global Mining Ltd 05 October 2017 \n\nPhoenix Global Mining Ltd / Ticker: PGM / Sector: Mining\n5 October 2017\nPhoenix Global Mining Ltd ('Phoenix' or the 'Company')\nExcellent drill results to support an increased copper resource at the Empire Mine, Idaho\n \nPhoenix Global Mining Ltd (AIM:PGM), the AIM quoted, US-focused copper exploration and development company, is pleased to announce further drill results from its recently completed 28 drill hole reverse circulation ('RC') and diamond drill programme at the Empire Copper Mine in Idaho, USA (the 'Empire Mine'). \n \nHighlights\n· Latest batch of drilling results include the following from the AP Pit oxide deposit:\no 9.2m @ 2.28% copper ('Cu'), 44.78 g/t silver ('Ag') and 1.95 g/t gold ('Au') (Cu equivalent grade 3.88%) \no 32m @ 1.43% Cu, 46.28 g/t Ag and 1.36 g/t Au (Cu equivalent grade 2.68%) \n· Final batch of results from six holes now awaited - due to be released in the coming weeks\n· First of two diamond drill holes targeting the higher grade and deeper sulphide mineralisation is underway (targeting depth of 315m) - results expected by end of November 2017\n \nDennis Thomas, the Company's CEO, said, \"Our Empire Mine programme continues to make rapid progress and the latest batch of drill results from the AP Pit continues to exceed management expectations. Significant copper intersections include 9.2m of 2.28% and 32m of 1.43% plus significant gold and silver by-products. The average grade of the existing JORC resource is 0.55% copper. I am also pleased to report that we have now begun drilling the first diamond drill hole targeting the deeper sulphides underlying the AP Pit. We believe these deeper sulphides have the potential to host higher copper grades, which could significantly enhance the potential of our project. Finally, we continue to be on track to deliver a new JORC Resource on the oxide resources in the AP Pit by the end of November 2017.\"\n \nDrilling Programme and Results to date \nThe Company's drilling contractor, AK Drilling Inc. completed the initial 28 drill hole programme in the AP Pit oxide deposit in September 2017. This included 21 reverse circulation drill holes and 7 PQ a...