Business
Red Star Vein Strike Length Extended to 320-Metres
Red Star Vein Strike Length Extended to 320-Metres.
About this update from Phoenix Copper Ltd. (united Kingdom)
[{"type":"text","content":"\n \nRNS Number : 6466A Phoenix Copper Limited 23 January 2020 \n\nPhoenix Copper Limited / Ticker: PXC / Sector: Mining\n \n23 January 2020\nPhoenix Copper Limited (the \"Company\" or \"Phoenix\")\n \nRed Star vein strike length extended to 320-metres and open on both ends\nTwo additional veins identified in road cuts\n \nPhoenix Copper Ltd (AIM: PXC, OTCQX: PGMLF), the AIM quoted North American focused base and precious metals exploration and development company, is pleased to announce the results of ongoing exploration at the Company's Red Star silver deposit, (\"Red Star\" or the \"Red Star Zone\") adjacent to the Company's Empire copper deposit in Idaho, USA. \nSampling Programme Highlights\n \n· Red Star vein now measured along 320m - open at both ends \n· Surface sampling results returned similar values to those from the outcrop that forms the current maiden NI 43-101 Resource \n· Two additional veins have been exposed to the southeast \n· All of the new vein exposures are situated on the patented Empire property \n· These results will now be used to identify further drill targets \n· Objective to continue to update the Red Star Resource in preparation for construction and production which is expected in 2021\n· A map showing the relevant Red Star vein system can be found on the website version of this press release at www.phoenixcopperlimited.com/news.\n \n Ryan McDermott, Chief Executive Officer, commented:\n\"We are pleased with the latest Red Star results which indicate an open-ended extension to the Red Star vein of 320-metres. Additionally, during the Q4 2019 drill road-building work, two additional veins were identified. These new veins are particularly exciting as they may be indicative of a much larger, multi-vein shear zone. \n\"During 2020 the Company plans to complete a drilling programme on Red Star to generate a Measured and Indicated resource sufficient to justify a small underground \"adit\" mine with a flotation process plant to produce lead-silver, copper-gold and zinc concentrates. The scale of operations will be in the region of 450 tonnes of ore a d...