Phoenix Copper Ltd. (United Kingdom) · LSE:PXC
Phoenix Copper Ltd. (United Kingdom) — Phoenix Copper — Investor Presentation (February 2021)
38 slides from Phoenix Copper Ltd. (United Kingdom)'s investor presentation, Feb 17, 2021
Slide 1: Phoenix Copper Ltd
EMERGING PRODUCER OF COPPER, GOLD AND SILVER IN IDAHO, USA AIM: PXC | OTCQX: PXCLF February 2021 PHOENIX COPPER LTD
Slide 2: Disclaimer
2 DISCLAIMER AIM:PXC OTCQX:PXCLF This Presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into an
Slide 3: Copper Focused US Mining Operation with $1.4 Billion Measured & Indicated Resource
3 COPPER FOCUSED US MINING OPERATION WITH $1.4 BILLION AIM:PXC MEASURED & INDICATED RESOURCE OTCQX:PXCLF Production targeted for 2022 Experienced management First world mining • Delivering copper into US team location electrification programme • Constructed and commissioned • Idaho, USA – pro-mining
Slide 4: Corporate Overview
4 CORPORATE OVERVIEW AIM:PXC OTCQX:PXCLF Snapshot* Significant Shareholders* Mkt Cap (£) 25m @ 40P* Martin Hughes 16.1% Shares in issue 63.64m Hargreaves Lansdown (Nominees) 13.9% Directors 8.6% Warrants 7.26m Bank of NY 7.6% Options 3.67m Cheviot Capital (Nominees) 5.6% Fully diluted shares 74.57m
Slide 5: Senior Management Team
5 SENIOR MANAGEMENT TEAM AIM:PXC OTCQX:PXCLF • Experienced team with significant corporate, financial and technical expertise • Financed, constructed, commissioned and operated mines globally Lenie Wilkie, ESG Programme Leader Marcus Edwards Jones, Chairman- - Active in the community using her Signi
Slide 6: Empire Ore System
6 AIM:PXC OTCQX:PXCLF EMPIRE ORE SYSTEM The Empire Mine, IDAHO, USA Red Star and Navarre Creek Initial targets: • Empire Open Pit Mine (Copper/Gold/Silver/Zinc) • Red Star (Silver/Lead/Copper/Gold) • Navarre Creek (Gold) PHOENIX COPPER | CORPORATE PRESENTATION
Slide 7: Development of the Empire Mine
7 DEVELOPMENT OF THE EMPIRE MINE AIM:PXC OTCQX:PXCLF Historical • 1901-1942: high grade underground mining – 6 to 8% copper head grade • 1962-2017: 287 holes drilled into Empire open pit Phoenix • June 2017: Phoenix IPO on AIM; acquisition of 80% Empire Mine • June 2017 - present: • $13.2m spent on
Slide 8: Empire Ore System Initial Targets
8 EMPIRE ORE SYSTEM AIM:PXC OTCQX:PXCLF INITIAL TARGETS Empire Open Pit Mine Red Star Navarre Creek • Open pit within 5.4km polymetallic • High grade silver and lead deposit • 6.1 km gold strike at Navarre Creek strike • Maiden inferred sulphide resource of • Geologically similar to high yielding •
Slide 9: The Empire Open Pit Mine
9 AIM:PXC OTCQX:PXCLF THE EMPIRE OPEN PIT MINE (Copper/Gold/Silver/Zinc) PHOENIX COPPER | CORPORATE PRESENTATION
Slide 10: Empire Open Pit Mine Resource Block Model
EMPIRE OPEN PIT MINE RESOURCE BLOCK MODEL 10 AIM:PXC Distribution of copper OTCQX:PXCLF PHOENIX COPPER | CORPORATE PRESENTATION
Slide 11: Empire Open Pit Mine - Growing NI 43-101 Compliant Resource
EMPIRE OPEN PIT MINE - GROWING NI 43-101 COMPLIANT 11 RESOURCE AIM:PXC OTCQX:PXCLF Resource upgraded three times since April 2018 with in-situ value of M&I at $1.36bn and Inferred resource value of $616M NI 43-101 Measured & Indicated Resources After Annual Drilling Programmes 2018 - 2020 (by Hard R
Slide 12: Empire Open Pit Mine - Robust Metallurgy
12 EMPIRE OPEN PIT MINE - AIM:PXC OTCQX:PXCLF ROBUST METALLURGY Confirmed adoption of environmentally friendly processing technology using ammonium thiosulfate resulting in no Gold bead from AuRIC Labs ATS test work on the Empire sample in Oct 2020 requirement for a cyanide permit ATS Bench Scale Te
Slide 13: Preliminary Empire Open Pit Economic Analysis (Feb 2021)
PRELIMINARY EMPIRE OPEN PIT ECONOMIC ANALYSIS (Feb 2021) 13 AIM:PXC OTCQX:PXCLF Mine producing 14.3m tonnes of Measured and Indicated ore recovering copper, zinc, gold, and silver. Mining and processing to occur in two phases. Copper and zinc recovered from a heap leach SX-EW operation with a mine l
Slide 14: Preliminary Economic Analysis (Feb 2021)
PRELIMINARY ECONOMIC ANALYSIS (Feb 2021) 14 YEARS 1 TO 7 YEARS 4 TO 10 YEARS 1 TO 7 YEARS 4 TO 10 PRODUCTION Cu Zn Au Ag OPERATING COSTS (LIFE OF MINE) Cu Zn AIM:PXC Au Ag OTCQX:PXCLF Total ore tonnes 14,317,207 14,317,207 Mining (Rehandle Heap to Au Ag Plant) $ 102,575,000 10,725,000 Total tonnes o
Slide 15: Empire Open Pit Mine - Commitment to Being a Responsible Miner
15 EMPIRE OPEN PIT MINE - COMMITMENT TO BEING A AIM:PXC OTCQX:PXCLF RESPONSIBLE MINER Use of non-toxic ammonium Environmental base line studies thiosulfate in processing of precious Project located on “Patented identify no flora, wildlife, water, metals – environmentally friendly Claims” – own surfa
Slide 16: Significant Portfolio Upside
16 AIM:PXC OTCQX:PXCLF SIGNIFICANT PORTFOLIO UPSIDE (Silver/Lead/Gold/Copper/Cobalt) Photo taken from Windy Devil PHOENIX COPPER | CORPORATE PRESENTATION
Slide 17: The Empire Open Pit Is Just the Start
17 AIM:PXC THE EMPIRE OPEN PIT IS JUST THE START… OTCQX:PXCLF The portfolio includes a number of significant prospects and historic mines with significant exploration upside Red Star (silver/lead/copper/gold) Navarre Creek (gold) Empire sulphide deposit (copper/gold/silver/zinc/tungsten – possible m
Slide 18: Empire Ore System Exploration Upside Along 5.4 km Mineralised Strike
EMPIRE ORE SYSTEM EXPLORATION UPSIDE ALONG 5.4 KM 18 MINERALISED STRIKE AIM:PXC Estimated less than 1% of the potential ore system at Empire has been explored OTCQX:PXCLF Historic prospects Total area 3,297 acres (13.34 km2) Empire Mine on Patented Claims PHOENIX COPPER | CORPORATE PRESENTATION
Slide 19: Red Star Deposit including White Knob, Bluebird and Horseshoe
19 AIM:PXC OTCQX:PXCLF RED STAR DEPOSIT INCLUDING WHITE KNOB, BLUEBIRD AND HORSESHOE SULPHIDE DEPOSITS High-grade silver/lead 2,500 m mineralised strike Red Star Maiden Inferred Historically mined high sulphide drill intercepts at length already identified Resource of 103,000t grade Horseshoe and no
Slide 20: Red Star NI 43-101 Maiden Resource - High Grade Silver & Lead
20 RED STAR NI 43-101 MAIDEN RESOURCE – AIM:PXC HIGH GRADE SILVER & LEAD OTCQX:PXCLF Maiden inferred resource estimate completed by Hard Rock Consulting with 15.5 ozs silver equivalent per tonne Depth (meters) Composite g/t % Length From To Ag Au Pb Zn Cu (meters) KX18-55 0 9.15 9.15 23.71 0.03 0.24
Slide 21: Navarre Creek (Gold)
21 NAVARRE CREEK (GOLD) AIM:PXC OTCQX:PXCLF • 9.8 km2 (2,420 acres) claim block • Located 5 km west of Empire • 6.1 km mineralised strike along the axis of the property • Geologically similar to high yielding volcanic hosted gold deposits on the Carlin Trend in Nevada PHOENIX COPPER | CORPORATE PRES
Slide 22: Navarre Creek
2 22 NAVARRE CREEK AIM:PXC OTCQX:PXCLF 1 3 1 Gold in oxidised outcrop (Gossan) Old mine portal in gold antimony workings at 2 Navarre Creek 3 Gossan with gold plus up to 1% antimony PHOENIX COPPER | CORPORATE PRESENTATION
Slide 23: Navarre Creek 2020 Sampling
NAVARRE CREEK 2020 SAMPLING 23 AIM:PXC • Surface sampling results confirm presence of volcanic hosted, Carlin-type mineralisation along OTCQX:PXCLF selected sections of the 6.1-kilometre strike length • Majority of samples detect gold and silver, with gold grades as high as 0.57 grammes per tonne •
Slide 24: Phoenix Copper Investment Case
24 AIM:PXC OTCQX:PXCLF PHOENIX COPPER INVESTMENT CASE 24 PHOENIX COPPER | CORPORATE PRESENTATION
Slide 25: Emerging Copper Producer in Idaho, USA
25 EMERGING COPPER PRODUCER IN IDAHO, USA AIM:PXC OTCQX:PXCLF Production targeted in 2022 Experienced First world mining Major mineralised Copper, gold, silver, zinc management team location system from an open pit mine Commitment to Exceptional Generating cash to build Exposure to a diversified sus
Slide 26: Contacts
26 CONTACTS AIM:PXC OTCQX:PXCLF Phoenix Copper Limited Ryan McDermott Tel: +1 208 954 7039 Dennis Thomas Tel: +44 7827 290 849 Richard Wilkins Tel: +44 7590 216 657 SP Angel (Nominated Adviser) David Hignell & Caroline Rowe Tel: +44 20 3470 0470 WH Ireland (Joint Broker) Harry Ansell, Adam Pollock &
Slide 27: Appendix
27 AIM:PXC OTCQX:PXCLF APPENDIX • Directors & Officers • Empire Mine Cross Section • Empire Open Pit Drill Results • Empire Open Pit NI 43-101 Resource • Empire Mine Permitting • Empire Open Pit Mine Gallery • Red Star Gallery • Idaho Cobalt Belt • Redcastle & Bighorn • Cobalt Exploration Results 27
Slide 28: Directors & Officers
28 AIM:PXC OTCQX:PXCLF 1 2 3 4 DIRECTORS & OFFICERS Marcus Edwards Jones, Chairman has significant experience in global institutional capital raisings. MD of 1 Lloyd Edwards-Jones S.A.S. a Paris and Dubai-based finance boutique specialising in selling equities to institutional clients and advising r
Slide 29: Directors & Officers
29 AIM:PXC OTCQX:PXCLF 1 2 3 4 DIRECTORS & OFFICERS Roger Turner, NED and CTO, is a co- founder of Phoenix Copper Limited and has spent over 40 years in the 1 mining industry. He was previously CEO of Nelson Gold (TSX) and co-founder and CEO of Oxus Gold (AIM) which built gold mines in Tajikistan an
Slide 30: Empire Mine Cross Section
30 AIM:PXC EMPIRE MINE CROSS SECTION OTCQX:PXCLF • No sulphide exploration since 1942 • Potential world class silver/copper/gold/lead/zinc/tungsten orebody below the oxides and along a 5.4 km strike within the claims block • Possible molybdenum/tungsten porphyry at depth Old underground workings PHO
Slide 31: Empire Open Pit Mine – Selected Drilling Results
31 EMPIRE OPEN PIT MINE – SELECTED AIM:PXC OTCQX:PXCLF DRILLING RESULTS • Stepout Intercepts (extend the resource envelope) • Hole KX18-51: 1.5 m of 1.75% copper equivalent from 73 m depth • Hole KXD18-18: 18.9 m of 2.14% copper equivalent from 41.8 m depth including 8.1 m of 3.86% copper equivalent
Slide 32: Empire Open Pit Mine – NI 43-101 Compliant Resource October 2020
32 AIM:PXC EMPIRE OPEN PIT MINE – NI 43-101 COMPLIANT OTCQX:PXCLF RESOURCE OCTOBER 2020 Mineral Resource Statement for Empire Mine, after Hard Rock Consulting October 2020 Average Grade Metal Content Cu Cu CLASS Tonnes Equiv Cu Zn Ag Au Cu Zn Ag Au Equiv % % % g/t g/t tonnes tonnes ozs ozs Tonnes Me
Slide 33: Permitting the Empire Ore System
33 PERMITTING THE EMPIRE ORE SYSTEM AIM:PXC OTCQX:PXCLF “Patented claims” allow for fast track permitting – no federal level review Patented Claims 23 “Patented” + 286 “Unpatented” claims totalling 23.14 km2 • Lead agency for permitting is the State Department of Environmental Quality • Federal Gove
Slide 34: Empire Open Pit Mine - Picture Gallery
34 EMPIRE OPEN PIT MINE - PICTURE GALLERY AIM:PXC OTCQX:PXCLF PHOENIX COPPER | CORPORATE PRESENTATION
Slide 35: Red Star - Picture Gallery
35 RED STAR - PICTURE GALLERY AIM:PXC OTCQX:PXCLF PHOENIX COPPER | CORPORATE PRESENTATION
Slide 36: The Idaho Cobalt Belt – Overview
36 THE IDAHO COBALT BELT – OVERVIEW AIM:PXC OTCQX:PXCLF • Phoenix registered Idaho company Borah Resources Inc (100% owned by Phoenix) • Borah holds two prospective copper-cobalt properties on the Idaho Cobalt Belt, 200 km north of Empire Mine • Bighorn Property – 29 unpatented claims - 580 acres •
Slide 37: Cobalt – Bighorn & Redcastle Claims in Idaho
37 COBALT – BIGHORN & REDCASTLE CLAIMS IN IDAHO AIM:PXC OTCQX:PXCLF BIGHORN REDCASTLE Claims along strike from Iron Creek Mine EMPIRE MINE PHOENIX COPPER | CORPORATE PRESENTATION
Slide 38: Cobalt - Exploration Results
38 COBALT - EXPLORATION RESULTS AIM:PXC OTCQX:PXCLF • Results show cobalt mineralisation from 0.31% (3,120 ppm) cobalt and 0.17% cobalt plus 4.12% copper • Cobalt values greater than 100 ppm and copper values greater than 0.5% are significant for the purposes of exploration targets Property Sample #
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