Business
Red Star Ground Magnetics Survey Expands Potential
Red Star Ground Magnetics Survey Expands Potential.
About this update from Phoenix Copper Ltd. (united Kingdom)
[{"type":"text","content":"\n \n \n \n RNS Number : 5834P\n Phoenix Copper Limited\n 20 October 2021\n \n \n \n \n Phoenix Copper Limited / Ticker: PXC / Sector: Mining\n \n 20 October 2021\n Phoenix Copper Limited\n ('Phoenix' or the 'Company')\n \n \n Red Star Ground Magnetics Survey significantly expands Red Star high-grade silver / lead potential\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 provide the results from the ground magnetics survey at the Company's Red Star project in Custer County, Idaho, USA.\n \n \n \n \n \n Red Star is located 330 metres northwest along strike from the present northern limits of the proposed Empire Mine open pit and appears to be part of the same mineralised system. Three holes drilled in 2018 generated a maiden NI 43-101 compliant resource of 1.6 million silver equivalent ounces, with silver grades as high as 1,100 g/tonne (\"g/t\") and lead grades above 21%. An additional 10 holes were drilled in 2020. The Company commissioned a ground-based magnetics geophysical survey to better understand the nature and orientation of potential mineralisation and to inform the location and direction of a further drilling programme.\n \n \n \n \n \n Highlights\n \n \n \n \n \n · \n Four high-amplitude areas of interest have been identified, including the discovery outcrop that was drilled in 2018 and 2020;\n \n \n · \n The size and amplitude of the three new areas of interest appear to be significantly greater than that of the discovery outcrop, which generated a maiden resource in 2018;\n \n \n · \n Further north-northeast magnetic anomalies trending from the Red Star discovery outcrop also identified;\n \n \n · \n The survey results will be used to guide the location and direction of the upcoming drill programme at Red Star;\n \n \n · \n Further survey results are awaited for the Horseshoe-White Knob area to the north, and the Navarre Creek gold project.\n \n \n \n Ryan McDermott, Chief Executive Officer, said,\n \"I am pleased to report the findings from the ground magnetics survey at our Red Star high-grade silver-lead project. The highlight was the discovery of three new high-amplitude magnetic anomalies.\n \n \n \"The size and amplitude of the three new ano...