Corporate Video of the Empire Mine

RNS Number : 9379Q

Phoenix Global Mining Ltd

18 September 2017

 

Phoenix Global Mining Ltd / Ticker: PGM / Sector: Mining

18 September 2017

Phoenix Global Mining Ltd ('Phoenix' or the 'Company')

Corporate Video of the Empire Mine

Phoenix Global Mining Ltd (AIM:PGM), the AIM quoted, US-focused copper exploration and development company, is pleased to announce that a video providing an overview of its Empire Copper Mine in Idaho, USA and the work currently being conducted on site, is now available to view on the Company's website: https://www.pgmining.com/pgm-media-and-presentations 

**ENDS**

For further information please visit www.pgmining.com or contact:

Phoenix Global Mining Ltd	Dennis Thomas & Richard Wilkins	c/o St Brides Partners [phone]
SP Angel (Nominated Advisor)	Lindsay Mair / Caroline Rowe	Tel: [phone]
Brandon Hill Capital (Broker)	Jonathan Evans / Oliver Stansfield/ Alex Walker/Robert Beenstock	Tel: [phone]
St Brides Partners (Financial PR)	Charlotte Page / Susie Geliher / Hugo de Salis	Tel: [phone]

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. Preliminary 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.

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 copper producing company.

 

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