Phoenix Copper Ltd (AIM:PXC, OTCQX:PXCLF) has kicked off its 2023 drilling programme at the Navarre Creek project in Custer County, Idaho.
The drilling marks a new phase of work on the gold exploration, the company said, and it is expected to build on the firm's current understanding of the area which is located some five kilometres west of its Empire Mine copper oxide deposit.
It is set to comprise up to 60 reverse-circulation drill holes, across 30 drill pads.
"Based on our team's exploration work up to this point, the results of the fieldwork conducted at Navarre Creek are extremely prospective,” chief executive Ryan McDermott said in a statement.
“The area exhibits geological traits consistent with hydrothermal precious metal deposition common in volcanic terrains in the Western United States.
“These geological characteristics, along with the area's hydrothermally altered brecciated sedimentary units, make Navarre Creek a primary target for precious metal exploration.
“As always, I look forward to reporting assay results as soon as they are available.”
WH Ireland analyst Paul Smith, in a note, said: “We see much to commend Navarre Creek area as hosting precious metal mineralisation.
“The drill results will be interesting and the potential all adds an exploration angle to the developing story at the Empire copper-gold project, which is in feasibility.
“It provides Phoenix with a pipeline of projects in Idaho in a central location.”