Phoenix Copper Ltd (AIM, OTCQX,PXCLF), chief executive Ryan McDermott said that the company was pleased to release the latest positive drill results from its Empire Open Pit Copper Project in Idaho.
For the purpose of testing, metallurgical core holes were drilled. Today’s results include two holes, the sixth and seventh in the programme. They will be added to the ongoing analysis.
Phoenix pointed out that drill holes were used in the program to collect material from all metallurgical domains. This was done to assess the metallurgical variability of the pit and to improve our understanding of the structural and geologic controls on mineralisation.
The results confirmed the continuity of mineralization. Now, the team is evaluating the results and aiming for additional drilling.
Ryan McDermott stated that the Phoenix team focused on specific areas within the Empire resource to collect samples representative of the geology, grade characteristics and deposit overall.
“The samples will also be used for the testing of ammoniumthiosulfate, which is a recovery agent of copper, gold, or silver. This may allow us to bring forward the production of gold/silver, currently scheduled for the second phase of Empire Open Pit.”
Investors were informed by the company that the metallurgical testing program is moving as planned. However, they noted that assay results are taking longer than expected due to laboratory backlog.
McDermott said: “We look forward reporting additional assays to the programme as soon as they become available, and appreciate everyone’s patience as the assay laboratory makes headway with the sample backlog.”
The morning’s report included a detailed report on the drill hole data.