Business
Exploration Update
Exploration Update.
About this update from Phoenix Copper Ltd. (united Kingdom)
[{"type":"text","content":"\n \nRNS Number : 2661D Phoenix Global Mining Ltd 30 January 2018 \n\n \nPhoenix Global Mining Ltd / Ticker: AIM:PGM / Sector: Mining\n \n30 January 2018\n \nPhoenix Global Mining Ltd ('Phoenix' or the 'Company')\nExploration Update - Scout drilling at depth confirms skarn structure and polymetallic sulphide mineralisation \n \n \nPhoenix Global Mining Ltd (AIM:PGM.L), the AIM quoted, US-focused copper and cobalt exploration and development company, is pleased to announce the analytical results from the scout drilling at its Empire Project in Custer County, Idaho. \n \nHighlights\n \n· Two scout drill holes intercepted polymetallic mineralisation below the oxide zone \n· The holes confirm the skarn structure and presence of the predicted larger sulphide zone at depth\n· Company will now progress with further exploration at depth in order to determine a targeted drilling programme\n· Mineralised intercepts included:\no 4.6 m @ 2.45% Cu Equivalent \no 10.7 m @ 1.02% Cu Equivalent \n \nBackground \n \nThe Company completed two scout diamond drill holes totalling 534 metres in early December 2017 as a prelude to the underground sampling programme below the oxide zone at the Empire Mine. The primary purpose of the drilling was to determine geological structure beyond the old workings and specifically to locate the skarn structures which host the mineralisation.:\n \nThe Company is pleased to confirm that the two scout holes show that favourable primary sulphide ore-hosting geology is present below the proposed open pit oxide mine. Both holes intersected the skarn structures over much of their length. Much of the core is mineralised throughout its length, with higher grade polymetallic values being returned, including significant occurrences of tungsten values. \n \nMineralised intercepts underlying the Empire oxide resource:\no 4.6 m @ 2.45% Cu Equivalent \no 10.7 m @ 1.02% Cu Equivalent \n \nDennis Thomas, the Company's CEO, said, \"I am very pleased to report that the results from our two deep exploration core holes have confirmed that favourable ore-hosting geology does exist below the cur...