Update - Live Webinar

RNS Number : 4021Y

Phoenix Global Mining Ltd

08 May 2019

 

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

8 May 2019

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

Update - Live Webinar

Phoenix Global Mining Ltd (AIM:PGM), the AIM quoted North American-focused base and precious metals exploration and development company, regrets to announce that due to technical difficulties the webinar scheduled for today, will be postponed until 13:00 (BST) / 08:00 (ET) tomorrow, Thursday 9th May 2019. A copy of the Company's updated corporate presentation can be found on its website at https://www.pgmining.com.

The live webinar will be available on the following link using the access code 5147677:

http://www.readytalk.com/join

To listen to the webinar the dial-in details are as below:

·      UK: [phone]

·      United States: 1-303-248-0285

·      Canada: [phone]

·      Access Code: 5147677

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

Phoenix Global Mining Ltd	Dennis Thomas / Richard Wilkins	Tel: [phone] (Dennis) /  [phone] (Richard)
SP Angel (Nominated Adviser and Joint Broker)	Lindsay Mair / Caroline Rowe	Tel: [phone]
Brandon Hill Capital (Joint Broker)	Jonathan Evans / Oliver Stansfield	Tel: [phone]
Blytheweigh (Financial PR)	Tim Blythe / Camilla Horsfall / Megan Ray	Tel: [phone]
RB Milestone Group (Unites States Consultant)	Trevor Brucato	Tel: [phone]

Notes:

Phoenix Global Mining Ltd (AIM: PGM, OTCQX: PGMLF) is a North American focused, base and precious metal explorer and developer, which is fast-tracking the historically-producing Empire Mine in Idaho, USA, back into production, and exploring for cobalt in Idaho.

Phoenix's flagship project is a brownfield, past producing, copper, gold, silver, zinc and tungsten underground mine, the Empire Mine near Mackay in Idaho. Phoenix acquired an 80% interest in the property in 2015. Based on a total of 315 drill holes an oxide resource was completed in late 2017. A NI 43-101PEA (preliminary economic assessment) for an open pit heap leach solvent extraction and electrowinning ("SX-EW") mine was completed in April 2018. In June 2018 a campaign consisting of RC and diamond drilling was started. This programme was designed to upgrade and increase the oxide reserves, provide samples for ongoing metallurgical testwork, geotechnical and hydrological studies and condemnation drilling for the heap leach pad site, waste dump and plant site. At the same time the consultants were appointed to complete a NI 43-101 compliant Bankable Feasibility Study ("BFS").

At Empire, it is estimated that only 1 to 2% 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, with the exception of the Red Star discovery "Inferred" resource, which remains open along strike and does not include the deeper, higher grade sulphides. In addition, Phoenix has increased the claim area from 813 acres at the time of its acquisition to 5,717 acres, mainly to the northwest and west, and in so doing has increased the potential for additional oxide and sulphide resources by a total strike length of approximately 2,500 metres towards another brownfield mine, the Horseshoe Mine, which is now within the property boundary.  

The Company also holds two prospective cobalt properties in Idaho, US, which are located north of the Empire Mine.  These are situated close to the town of Cobalt and are close to projects being advanced by Canadian junior miners, including eCobalt Solutions and First Cobalt.  Fieldwork, consisting of mapping and sampling and locating drill holes for the 2019 drilling programme, has been completed.

With a management team that has successfully constructed, commissioned and operated mines and low risk, mining-friendly jurisdictions with excellent infrastructure, Phoenix is looking to fulfil its ambitions to become a mid-tier base metal, precious metal and cobalt production company, offering exposure to three high value and high demand metals with compelling demand/supply fundamentals.

More details on the Company, its assets and its objectives can be found on PGM's website at www.pgmining.com

 

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