Phoenix Copper Ltd (AIM:PXC, OTCQX:PXCLF) said it has received the final assays from its recent metallurgical core drill programme at the Empire open-pit project, in Idaho, which confirms the continuity of mineralisation.
Results from drilling will feed into new updated geological models and will help target additional drilling.
Significantly, chief executive Ryan McDermott said, the findings at the Empire pit may allow Phoenix to bring forward the production of gold and silver, which is otherwise scheduled as a second phase of the project.
He continued: "We are pleased to report the assay results from the final three metallurgical core holes KXD22-07B, KXD22-08, and KXD22-09. All of the core samples designated for metallurgical testing have now been shipped to the metallurgical laboratory to complete the test program.
"The 2022 metallurgical drilling program 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.
“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 the production of gold and silver, currently scheduled as a second phase of the Empire Open Pit project.”
McDermott added: “Most importantly, the intercepts in the drilling program thus far are consistent with the team's expectations and meet the material type-grade-interval length necessary for the metallurgical test work currently being undertaken.
"We look forward to reporting the results of the metallurgical testing as they become available.
“We also look forward to reporting the assay results for the Redstar/North Pit reverse-circulation drilling completed in 2022. We expect those results to become available in the near future."
A detailed report of the assay results for drill holes KXD22-07B, KXD22-08, and KXD22-09 is available in the tables within the company’s statement.