Phoenix Copper Ltd (AIM:PXC, OTCQX:PXCLF) chief executive Ryan McDermott described the company as pleased as it released latest positive drill results from the Empire Open Pit Copper Project, Idaho.
Metallurgical core holes have been drilled for the purpose of providing samples for testing. Today’s results comprise two holes – the sixth and seventh drilled in the programme – and they will add to the catalogue of analysis that is underway.
Phoenix highlighted that the drill holes in the programme were designed to collect material from each of the metallurgical domains to evaluate the metallurgical variability within the pit, whilst improving the understanding of the geologic and structural controls on mineralisation.
It confirmed that the results indeed show the continuity of mineralisation. The team is now assessing the results for inclusion in updated geological models and targeting additional drilling.
“In developing the 2022 Metallurgical Drilling Program, the Phoenix team targeted specific zones within the Empire resource in order to collect samples that are representative of the geology and grade characteristics of the deposit as a whole,” Ryan McDermott said.
“The samples will be used in the additional testing of ammonium thiosulfate as a recovery agent for copper, gold, and silver, which may enable us to bring forward production of gold and silver, currently scheduled as a second phase of the Empire Open Pit project.”
The company, meanwhile, told investors that the metallurgical testing programme is progressing as planned whilst noting, as previously announced, that assay results are taking longer to be returned than originally anticipated due to laboratory backlog.
McDermott added: "We look forward to reporting additional assays from the programme as they become available and appreciate everyone's patience while the assay laboratory continues to make headway on the sample backlog."
This morning’s statement included a full detailed report of the specific drill hole data.