Business
Navarre Creek land position increased
Navarre Creek land position increased.
About this update from Phoenix Copper Ltd. (united Kingdom)
[{"type":"text","content":"\n \n \n \n RNS Number : 2125I\n Phoenix Copper Limited\n 11 August 2021\n \n \n \n Phoenix Copper Limited / Ticker: PXC / Sector: Mining\n 11 August 2021\n \n Phoenix Copper Limited\n (\"Phoenix\" or the \"Company\")\n \n \n \n \n \n \n \n Navarre Creek land position increased from 2,420 to 3,577 acres (9.80 to 14.48 square kilometres)\n \n \n \n \n \n Phoenix Copper Ltd (AIM: PXC, OTCQX: PXCLF), the AIM quoted USA focused base and precious metals emerging producer and exploration company, is pleased to announce an increase in its land holding at its Navarre Creek gold exploration project, in Idaho, with 56 new claims having been staked on the northeast end of the existing claim block. \n \n \n \n \n \n Highlights:\n \n \n \n \n \n · \n The Company has increased its land position by an additional 1,157 acres (4.68 square kilometres (\"km²\")) at its Navarre Creek Carlin-type gold exploration project\n \n \n · \n 56 new unpatented claims have been staked and filed contiguous to the existing Navarre Creek claim block\n \n \n · \n The total land package in the Empire Mine area has been expanded to 8,034 acres (32.51 km²)\n \n \n · \n Electromagnetic (\"EM\") surveys at Navarre Creek, Red Star and Horseshoe have been completed and are awaiting the final geophysicist report scheduled for late August \n \n \n · \n 2,300 metres of reverse-circulation drilling planned at Navarre Creek for later this year\n \n \n \n \n \n \n \n \n Ryan McDermott, Chief Executive Officer, commented: \"As a result of our own internal analysis of the preliminary data from the EM survey, we are pleased to announce the addition of 56 unpatented mining claims to the Navarre Creek claim block. These claims are contiguous and bring the total land holding at Navarre Creek to 3,577 acres. The additional acreage was added on the northeast end of the Navarre block and covers additional prospective ground. The additional claims will be important for executing future drilling and subsurface exploration, and follow on from the promising surface sampling campaign in 2020, which demonstrated anomalously high gold grades in the initial geochemical samples, indicative of higher-grade values in less weathered rocks below the surface oxidised zone. These grades were similar to the historic grades...