Phoenix Copper Ltd - British Virgin Islands-based base and precious metals production and exploration company - From the Deep Sulphide core drilling programme at the Empire mine in Idaho, US, intercepts high grade mineralisation from three drill holes, with 2.9 grams per tonne of gold, 187 grams per tonne in silver, 1.45% copper, 4.93% zinc and 8,030 parts per million of tungsten.
So far, 979 metres of the current 4,500 metre programme has been completed to date.
However, one drill holes was abandoned due to interference with historical underground workings.
"We are very pleased to announce that drilling from a further four core holes intercepted high-grade gold, silver, copper, lead and zinc, as well as tungsten as high as 0.80%. These four core holes, KXD21-03 through KXD21-06, targeted the sulphide zone below Empire's open pit oxide resource. The Phoenix team is encouraged by these results which provide further evidence of a metal-rich system below the open pit oxide resource," said Chief Executive Officer Ryan McDermott.
Current stock price: 60.00 pence, down 7.7% on Thursday
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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Phoenix Copper. (PXC)