Phoenix Copper 28p £17.5m (PXC.L) Results of the initial metallurgical test work for the recovery of precious metals occurring in the Empire Mine deposit. Precious metals tests performed on samples from the Empire open pit deposit using non-toxic ammonium thiosulfate (“ATS”) reagent resulted in high gold recoveries of 97.8% and 97.7%, and silver recoveries of 69.8% and 78.2%, respectively RC drill rig mobilised for extensional drilling of the gold and silver zones at Empire with the intent of adding additional gold and silver to the open pit resource Diamond drilling programme at the Red Star silver-lead deposit well underway #PXC
Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, which has carried out a drilling programme and generated a copper, gold, silver and zinc resource on which it is carrying out a feasibility study to bring the historically producing Empire Mine in Idaho, USA, back into production. It is also evaluating the silver...
Phoenix Copper Limited (PXC.L) Announced the results of the initial metallurgical test work for the recovery of precious metals occurring in the Empire Mine deposit. Precious metals tests performed on samples from the Empire open pit deposit using non-toxic ammonium thiosulfate ("ATS") reagent resulted in high gold recoveries of 97.8% and 97.7%, and silver recoveries of 69.8% and 78.2%, respectively. Diamond drilling programme at the Red Star silver-lead deposit well underway. The detailed metallurgical report can be found at www.phoenixcopperlimited.com/research. #PXC
Phoenix Copper Ltd #PXC (“Phoenix”) has announced extremely positive results from the initial metallurgical test work at the AuRIC laboratories in Salt Lake City, for the recovery of precious metals occurring in the Empire Mine deposit. There are several key aspects of this work, which are extremely positive. Firstly ATS is a non-toxic inorganic compound that is primarily used as a fertilizer. Therefore it is regarded as being environmentally friendly. If Phoenix had had to apply for a cyanide licence, it would probably have lengthened the permitting process by at least 12 months. Secondly, it works in the presence of copper, whereas cyanide dissolves oxide copper and this has a tendency to increase the cyanide consumption. It also has lower cost than sodium cyanide. Thirdly, as Tables 2 & 3 show, the recovery times are very short, with gold recoveries in the high 90’s being achieved in as little as three hours. This test work was conducted on several samples, all of which came from a 400lb metallurgical sample that graded 12.8g/t gold. Multiple individual samples were used, the largest being 3,000g. The grade was very high at 12.8g/t, compared to the average gold grade of the measured and indicated resources at the Empire pit of 0.35g/t. This suggest that recoveries in an actual processing plant would be a bit lower, but BHC would still expect them to be well over 90%. The size of the ground ore was minus 80 mesh, strongly suggesting that Phoenix are looking at a tanked leach. On the back of this test work, which may be seen as a game changer, a pilot scale test plant, sited in the AuRIC Laboratory in Salt Lake City and scaled to run multiple tonnage leach samples from various locations around the Empire open pit deposit using the ATS reagent is being prepared. This will be followed by pilot scale testing on the project site. Further, Phoenix has also mobilized a reverse-circulation drill rig that is currently drilling extensions to the existing gold and silver resources with the intent of adding additional resource, as well as upgrading the inferred tonnes to the measured and indicated categories. As shown in Table 1 below, there are 10.5Mt grading 0.368g/t gold, 7.9g/t silver and 0.46% copper in the inferred category. This contains an inferred 125k oz of gold, 2.68M oz of silver and 48kt of copper. The grades in the inferred category are actually higher than those in the measured and inferred categories. If all goes well, the de-risking of the Empire mine will also raise the overall grades of copper and gold, and with the exception of silver, has the potential to raise contained metal by up to 50% in measured and indicated resources.
RNS Number: 2903 R Phoenix Copper Limited 29 June 2020 Phoenix Copper Limited/ Ticker: PXC/ Sector: Mining. Empire Mine gold recoveries exceed 97% using environmentally friendly reagent. ·Pilot scale test plant now being prepared at the laboratory in Salt Lake City before commencing small scale pilot testing at Empire.
RNS Number: 8455 Q Phoenix Copper Limited 24 June 2020 Phoenix Copper Limited/ Ticker: PXC/ Sector: Mining. Of these Warrants, 641,157 have an exercise price of 40 pence per share and an expiry date of 28 June 2020, and 427,343 have an exercise price of 35 pence per share and an expiry date of 30 June 2020.. In addition, a further 127,962 Warrants which had an exercise...
Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, which has carried out a drilling programme and generated a copper, gold, silver and zinc resource on which it is carrying out a feasibility study to bring the historically producing Empire Mine in Idaho, USA, back into production. It is also evaluating the silver...
RNS Number: 3018 P Phoenix Copper Limited 08 June 2020 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Phoenix Copper Ltd #PXC (“Phoenix”) has announced that it has raised a total of £1,760,000 (before expenses) by way of a placing and subscription for ordinary shares of no par value each. Comment - The net proceeds from this fundraising will be used to enable the expansion of the Red Star drilling programme throughout the Red Star shear zone. In particular, this will lead to an upgraded resource estimate and the completion of a preliminary economic assessment. At Red Star, work is progressing well, now that the weather is turning toward drier, summer conditions. As the network of roads and drill pads in the shear zone has been expanded, several additional mineralised structures have been exposed in the dozer cuts below the alluvium. These structures have been added to the list of drill targets in the Red Star zone. This is very promising for a significant increase in the size of the resource. By raising more than they had planned for, the additional funds will be used to conduct additional drilling at the Empire mine. In particular, when Phoenix were focused on copper, the areas of high gold values were not infill drilled. This is expected to move some of the inferred gold ounces into the indicated and measured category. As shown in Table 1 below, there are 10.5Mt grading 0.368g/t gold, 7.9g/t silver and 0.46% copper in the inferred category. This contains an inferred 125k oz of gold, 2.68M oz of silver and 48kt of copper. The grades in the inferred category are actually higher than those in the measured and inferred categories. If all goes well, the de-risking of the Empire mine will also raise the overall grades of copper and gold, and with the exception of silver, has the potential to raise contained metal by up to 50% in measured and indicated resources. In addition, metallurgical test work is being conducted on the precious metal trends in the Empire open-pit and this work will be incorporated into an updated PEA. Finally, the additional funds will allow a focused, geophysical and geochemical programme at the Navarre Creek claim block where very little work has been performed to date.
Phoenix Copper 22.5p £11.9m (PXC.L) - £1,760,000 raised at 18 pence per share - Placing & subscription oversubscribed - Use of proceeds: o Diamond drilling at the high-grade Red Star silver / lead deposit o Additional drilling and metallurgical engineering on the precious metals extensions at the Empire open-pit o Gold exploration at Navarre Creek #PXC
Phoenix Copper* (#PXC LN) 22.5p, Mkt Cap £10.5m – £1.76m raised for Idaho projects Phoenix holds 80% of the Empire mining property in Idaho Phoenix Copper has announced that it has raised £1.76m through an oversubscribed placing and subscription for approximately 9.78m shares at a price of 18p/share. The funds are to progress the company’s projects in Idaho through additional diamond-drilling at the Red Star silver lead deposit, further drilling and metallurgical testing of precious-metals extensions to the Empire open-pit and gold exploration at the Navarre Creek prospect located some four miles west of the Empire Mine, which the company has previously described as “a 2,420-acre zone geologically similar to the Carlin Trend gold belt in Nevada”. The work is scheduled to ʺcommence immediatelyʺ. Directors, Marcus Edwards-Jones, Ryan McDermott, Richard Wilkins, Roger Turner, Dennis Thomas, Andre Cohen and Jason Riley are all participating in the funding and the company also says that ʺMartin Hughes, a substantial shareholder of the Company, has subscribed for a total of 1,666,650 Fundraise Shares in the Fundraising. Mr. Hughes will hold 13,484,356 Ordinary Shares in the Company immediately following admission of the Fundraise Shares, representing approximately 21.59% of the Companyʺ. Disclosing that drilling started at the Red Star project on 27th April and is making good progress, CEO, Ryan McDermott, commented that the ʺFundraising will allow the Phoenix team to continue its work on a precious metals expansion programme at the Empire open-pit through a combination of drilling and metallurgical testing focused on the gold and silver trends recognised in and around the oxide-copper resource area. Additionally, it will enable the expansion of the Red Star drilling programme throughout the Red Star shear zone, and allow the team to conduct a focused, geophysical and geochemical programme at the Navarre Creek claim blockʺ. Mr. McDermott also said that ʺAs we have recently expanded the network of roads and drill pads in the shear zone, several additional mineralised structures have been exposed in the dozer cuts below the alluvium. These structures have been added to the list of drill targets in the Red Star zoneʺ. Conclusion: Phoenix Copper is deploying the additional funds to advance drilling at the expanding Red Star project and the Empire pit, conduct additional metallurgical tests on the Empire pit mineralisation and to explore the Navarre Creek claim area. Director participation and the continued support of a major shareholder in the latest funding is welcome and we look forward to news of exploration progress as it becomes available. *SP Angel acts as Nomad to Phoenix Copper
Oversubscribed Placing& Subscription to raise £1,760,000. -£1,760,000 raised at 18 pence per share. £1,760,000 has been raised by way of a placing and subscription for 9,777,641 new Ordinary Shares at a price of 18 pence per share.
Phoenix Copper Limited (PXC.L) Announced an updated corporate presentation is available on the company's website. Additionally, Hardman & Co has released its research on the company titled 'Potential world-class copper-gold- silver mine', which can be viewed on Hardman & Co's website. #PXC
Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, which has carried out a drilling programme and generated a copper, gold, silver and zinc resource on which it is carrying out a feasibility study to bring the historically producing Empire Mine in Idaho, USA, back into production. It is also evaluating the silver...
PHOENIX COPPER LTD #PXC Potential world-class copper-gold-silver mine. PXC has consolidated the former Empire mine (which recovered a phenomenal 3.64% copper before WWII suspension), three other former mines and two deposits into a potentially world-class copper/precious metals project located in one of the most favourable mining regions, Idaho, US. The planned initial silver mine will provide cashflows to develop the extensive copper-gold-zinc mineralisation in the rest of the ore body. Our estimated DCF valuation (based on silver mine only) is 31p/share. Substantial development work has been done on a first-stage (shallow oxide ore) copper mine, for which we estimate a £17.3m NPV if greenlighted today.
Phoenix Copper Ltd, the AIM quoted North American focused base and precious metals company, has been informed that Andre Cohen, Non-Executive Director of the Company, purchased a total of 50,000 shares in the Company yesterday at a price of 16 pence per share. 25,000 shares were bought in Andre's own name, and 25,000 shares were bought for his wife, Kay Cohen..
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