TIDMPXC
RNS Number : 1009X
Phoenix Copper Limited
31 December 2021
Phoenix Copper Limited / Ticker: PXC / Sector: Mining
31 December 2021
Phoenix Copper Limited
("Phoenix" or the "Company")
Board Change
Phoenix Copper Ltd (AIM: PXC; OTCQX: PXCLF, OTCQX ADR: PXCLY),
the AIM quoted USA focused base and precious metals emerging
producer and exploration company, announces that Roger Turner is
stepping down as a Non-Executive Director and Chief Technical
Officer, with immediate effect, for personal and health reasons. Mr
Turner will continue to advise the Company on a part-time
consultancy basis.
Marcus Edwards-Jones, Chairman of Phoenix Copper, commented: "I
sincerely thank Roger for his invaluable input over the last 8
years, since founding the Company in 2013. Roger's wisdom and
experience have been instrumental in much of what we have achieved
over that period and I am delighted that he will remain involved
with the Company, albeit in a part-time consultancy role.
"We expect 2022 to be a significant year for the Company as we
look to permit, finance and construct our open pit copper mine at
Empire, and continue our exploration programmes on the surrounding
mineralised district, as well as the historically mined sulphide
deposit below the open pit. I know that Roger's ongoing advice will
continue to be important.
"May I take this opportunity to wish all our stakeholders a very
happy and prosperous New Year."
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 which has been
incorporated into UK law by the European Union (Withdrawal) Act
2018. Upon the publication of this announcement via Regulatory
Information Service, this inside information is now considered to
be in the public domain.
Contacts
For further information please visit https://phoenixcopperlimited.com or contact:
Phoenix Copper Limited Ryan McDermott Tel: +1 208 954
Dennis Thomas 7039
Richard Wilkins Tel: +44 7827
290 849
Tel: +44 7590
216 657
SP Angel Corporate David Hignell / Caroline Rowe Tel: +44 20 3470
Finance LLP (Nominated 0470
Adviser)
------------------------------------ ---------------------
Brandon Hill Capital Jonathan Evans / Oliver Stansfield Tel: +44 20 3463
(Joint Broker) 5000
------------------------------------ ---------------------
WH Ireland (Joint Harry Ansell / Adam Pollock Tel: +44 207 2201666
Broker) / Katy Mitchell
------------------------------------ ---------------------
Panmure Gordon (UK) John Prior / Hugh Rich / Ailsa Tel: +44 20 7886
Limited (Joint Broker) Macmaster 2500
------------------------------------ ---------------------
EAS Advisors (US Matt Bonner / Rogier de la Rambelje Tel: +1 (646)
Corporate Adviser) 495-2225
------------------------------------ ---------------------
Blytheweigh Tim Blythe / Megan Ray Tel: +44 20 7138
(Financial PR) 3204
------------------------------------ ---------------------
Notes
Phoenix Copper Limited is a USA focused, base and precious
metals emerging producer and exploration company, initially
targeting copper and zinc production from an open pit mine from
late 2022.
Phoenix's primary operations are focused near Mackay, Idaho in
the Alder Creek mining district, at the 80% owned Empire Mine
property, which historically produced copper at grades of up to 8%,
as well as gold, silver, zinc and tungsten, from an underground
mine.
Since 2017, Phoenix has carried our extensive drill programmes
which have defined a NI 43-101 compliant PEA (preliminary economic
assessment) for an open pit heap leach solvent extraction and
electrowinning ("SX-EW") mine, which was updated in October 2020.
The contained metal in all NI 43-101 compliant categories of
resources, Measured, Indicated and Inferred, stand at 129,641
tonnes of copper, 355,523 ounces of gold, 10,133,772 ounces of
silver and 58,440 tonnes of zinc. Phoenix updated its economic
model in February 2021 to include the processing of all contained
metals through a two phased approach.
In addition to Empire, the district includes the historic
Horseshoe, White Knob and Blue Bird Mines, past producers of
copper, gold, silver, zinc, lead and tungsten from underground
mines. A new discovery at Red Star, 330 metres northwest of the
Empire Mine proposed open pit, has revealed high grade silver /
lead sulphide ore, and from three shallow exploration drill holes a
maiden resource of 103,000 tonnes containing 173.4 g/tonne silver,
0.85 g/tonne gold and 3.85% lead (1.6 million ounces silver
equivalent) was reported in an NI 43-101 technical report published
in May 2019. Additionally, the district includes Navarre Creek, a
volcanic hosted precious metals target in a 14.48 sq km area. The
Company's total land package at Empire comprises 8,034 acres (32.51
sq kms).
At Empire, it is estimated that less than 1% of the potential
ore system has been explored to date and, accordingly, there is
significant opportunity to increase the resource through phased
exploration. The stated aim of the Company is to fund this phased
exploration through free cashflow generated by its initial mine. A
Plan of Operations in respect of the initial open pit mine was
filed with the relevant regulatory authorities in June 2021.
Phoenix also has two wholly owned cobalt properties on the Idaho
Cobalt Belt to the north of Empire. An Earn-In Agreement has been
signed with Electra Battery Metals (formerly First Cobalt
Corporation), Toronto, in respect of one of those properties.
More details on the Company, its assets and its objectives can
be found on PXC's website at https:// phoenixcopperlimited.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
BOATMBFTMTJJBMB
(END) Dow Jones Newswires
December 31, 2021 02:00 ET (07:00 GMT)
Phoenix Copper (LSE:PXC)
Historical Stock Chart
From Jul 2024 to Jul 2024
Phoenix Copper (LSE:PXC)
Historical Stock Chart
From Jul 2023 to Jul 2024