Last checked at 31 Oct 2017 15:42
Phoenix Global Mining Ltd / Ticker: PGM / Sector: Mining
31 October 2017
Phoenix Global Mining Ltd ('Phoenix' or the 'Company')
Attendance at Shares Spotlight Evening
Phoenix Global Mining Ltd (AIM: PGM), the AIM quoted, US-focused, copper exploration and development company is pleased to announce its attendance at the Shares Spotlight Evening in London on 16 November 2017. The Company will provide an overview of its Empire Copper Mine, which is being fast-tracked into production, and its recently acquired copper-cobalt licences, both of which are located in the pro-mining jurisdiction of Idaho, US.
The event will take place between 6.00pm and 9.30pm at the Novotel Tower Bridge, London, EC3N 2NR. Shareholders and potential investors can register to attend for free at: http://www.sharesmagazine.co.uk/events.
**ENDS**
For further information please visit www.pgmining.com or contact:
Phoenix Global Mining Ltd | Dennis Thomas & Richard Wilkins | c/o St Brides Partners Tel: +44 20 7236 1177
|
SP Angel (Nominated Advisor)
| Lindsay Mair / Caroline Rowe | Tel: +44 20 3470 0470 |
Brandon Hill Capital (Broker) | Jonathan Evans / Oliver Stansfield / Alex Walker / Robert Beenstock
| Tel: +44 20 3463 5000 |
St Brides Partners (Financial PR) | Charlotte Page / Susie Geliher | Tel: +44 20 7236 1177 |
Notes
Phoenix Global Mining Ltd (AIM: PGM) is a US-focused, base metal explorer and developer, which is fast-tracking the historically-producing Empire Mine in Idaho, USA back into production.
Having established an initial copper oxide JORC resource of 12.8mt grading 0.53% copper ('Cu') for 68,200t contained Cu from historical drill holes, Phoenix has defined a two-phase development strategy. Phase One is focused on commencing low cost, open pit production from the current oxide resource, targeting 7,000t copper cathode per annum by 2020 via an SX-EW plant. Stage Two will look to extend the life of mine by targeting the deeper (below c.120m), higher grade copper sulphides, where intercepts of up to 11.4% Cu have been recovered. Pre-feasibility Study work on the priority open pit oxide resource is already underway.
It is estimated that only 5% of the potential ore system has been explored to date and accordingly there is significant opportunity to increase the resource through phased exploration; the current resource relates to the oxide resource only, which remains open along strike and does not include the deeper, higher grade sulphides. Furthermore, the Mine has an exploration target of between 3.4 to 6.7 million tonnes (derived from historic data), grading 0.34% to 0.50% Cu for 11,560 to 33,500 tonnes of additional contained copper and there is potential to extract additional metals, including gold, silver, zinc and tungsten.
The Company also holds two highly prospective cobber-cobalt properties in Idaho, US, which are located north of the Empire Mine. These are situated close to the town of Cobalt and are proximal to projects being advanced by Canadian junior miners, including eCobalt Solutions and US Cobalt. Early stage exploration is currently underway and drilling is targeted to commence in 2018.
With a management team that has successfully constructed, commissioned and operated mines and a low risk, mining-friendly jurisdiction with excellent infrastructure, Phoenix is looking to fulfil its ambitions to become a mid-tier base metal producing company, offering exposure to two high demand technology metals with compelling demand/supply fundamentals.