Phoenix Global Mining announces increased copper resource at Empire Mine in Idaho

(ShareCast News) – Phoenix Global Mining has announced that drill results at its Empire Mine in Idaho continued to show increased copper resource.The US-focused copper exploration and development company on Wednesday reported that the company’s drilling contractor, AK Drilling, had completed the 28 drill hole reverse circulation and diamond drill programme at the mines’ AP Pit oxide deposit in September resulting in “impressive” results.

Phoenix also said that the second of two diamond drill holes, targeting the higher grade and deeper sulphide mineralisation, was underway with the final depth of the first hole at 314m.

Assay results for the two holes were expected in December 2017.

Dennis Thomas, the Company’s CEO, said,

“The final batch of drill hole assays from our 2017 oxide drilling program were received and remain as impressive as the previous results which were reported on October 5th. Copper intersections include longer intervals of 24.4m of 1.06% and 29.0m of 0.88% with numerous shorter intervals as high as 6.26% together with significant gold and silver. The average grade of the existing JORC resource is 0.53% copper.

“I am also pleased to report that we have completed the first of two diamond drill holes targeting the deeper sulphides at a depth of 314m underlying the AP Pit. We anticipate receipt of analytical data from this deeper hole in December.

“Finally, we continue to be on track to deliver a new JORC Resource for the AP Pit oxides this month now that all of the assays have been received.”