TIDMPXC
RNS Number : 0262O
Phoenix Copper Limited
30 September 2019
Phoenix Copper Limited / Ticker: PXC / Sector: Mining
30 September 2019
Phoenix Copper Limited (the "Company" or "Phoenix")
Director Appointment
Phoenix Copper Limited (AIM: PXC; OTCQX: PGMLF), the AIM quoted
North American focused base and precious metals exploration and
development company, is pleased to announce that Ryan McDermott,
Chief Operating Officer ("COO"), has been appointed a Director of
the Company with immediate effect and where he will continue in his
role as COO.
Dennis Thomas, Chief Executive Officer, commented:
"I am delighted to welcome Ryan to the board of Phoenix. Ryan
joined the Company in March 2017 where he became CEO of our two
Idaho registered operating subsidiaries and from September 2018,
has been COO of the Company in a non-board level position. Idaho
born and bred, Ryan is a graduate of Idaho State University and has
had an extensive international career, covering four continents and
a wide range of precious and base metal mining projects. Ryan has
been instrumental in driving our Empire Mine copper - zinc - gold -
silver project forward, and in establishing excellent relationships
with the local people and regulatory authorities in Idaho."
Ryan Kelly McDermott (aged 52) has 27 years' experience in
mining and mineral exploration for base and precious metals. During
this time, he has notably worked for Sovereign Exploration/Plexus,
Kinross Gold Corp, Echo Bay Minerals, SECOR International Inc, and
Kleinfelder West Inc. Ryan has held various senior positions in his
career including Operations Manager and Chief Geologist for Gold
Hill Mining, Director of Mining Operations for an Idaho based
private investment group, Geotechnical Engineering Manager at
Kleinfelder West, Inc and General Manager of US Ecology Idaho.
Ryan has led the teams responsible for the permitting,
development, and operation of open pit and underground mining
projects in the Western United States and South America. During his
time with Kinross Gold he was a member of the team responsible for
project development and technical services for projects in North
and South America, Russia and Africa. Ryan and his Gold Hill team
successfully permitted a gold operation in Boise County, Idaho.
Ryan is a graduate of Idaho State University where he received a
Bachelor of Science degree in Geology.
With significant regional experience, Ryan brings the necessary
skills and experience required for the ongoing development of the
Empire Mine.
The following details in relation to the appointment of Ryan are
disclosed in accordance with Schedule 2(g) of the AIM Rules:
Current Directorships Past directorships held within
the last five years
Konnex Resources Inc
-------------------------------
Borah Resources Inc
-------------------------------
Ryan McDermott owns 293,747 shares in the Company, representing
0.69 per cent of the Company's outstanding share capital.
There are no other disclosures in accordance with Schedule 2(g)
of the AIM Rules.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Contacts
For further information please visit
www.phoenixcopperlimited.com or contact:
Phoenix Copper Limited Dennis Thomas / Richard Wilkins Tel: +44 7827
290 849 (Dennis)
/
+44 7590 216 657
(Richard)
SP Angel Ewan Leggat / Caroline Rowe Tel: +44 20 3470
(Nominated Adviser 0470
and Joint Broker)
----------------------------------- ------------------
Brandon Hill Capital Jonathan Evans / Oliver Stansfield Tel: +44 20 3463
(Joint Broker) 5000
----------------------------------- ------------------
Medea Natural Resources Leonidas Howden / Fred White Tel: +44 20 7770
Ltd (Financial Advisor) 6926
----------------------------------- ------------------
Blytheweigh Tim Blythe / Camilla Horsfall Tel: +44 20 7138
(Financial PR) / Megan Ray 3204
----------------------------------- ------------------
Notes
Phoenix Copper Limited is a North American focused, base and
precious metal explorer and developer, which is fast-tracking the
historically-producing Empire Mine in Idaho, USA, back into
production, and exploring for cobalt in Idaho.
Phoenix's flagship project is a brownfield, past producing,
copper, gold, silver, zinc and tungsten underground mine, the
Empire Mine near Mackay in Idaho. Phoenix acquired an 80% interest
in the property in 2015. Based on a total of 320 drill holes an
oxide resource was completed in late 2017. A NI 43-101 compliant
PEA (preliminary economic assessment) for an open pit heap leach
solvent extraction and electrowinning ("SX-EW") mine was completed
in April 2018. In June 2018 a drilling campaign consisting of 8,600
metres in 93 holes was started and completed in late 2018. This
programme was designed to upgrade and increase the oxide resources,
provide samples for ongoing metallurgical testwork, geotechnical
and hydrological studies and condemnation drilling for the heap
leach pad site, waste dump and plant site. An updated NI 43-101
compliant resource was completed in early May 2019 which resulted
in an increase from the PEA resources of 37% contained copper and
108% contained zinc. This resource has been used for this economic
analysis and will now be used as the basis for the Bankable
Feasibility Study ("BFS") scheduled for completion in mid 2020.
At Empire, it is estimated that only 1 to 2% of the potential
ore system has been explored to date and, accordingly, there is
significant opportunity to increase the resource through phased
exploration; the current resources relate to the oxide resource
only, with the exception of the Red Star discovery "Inferred"
resource, which remains open along strike and does not include the
deeper, higher grade sulphides. In addition, Phoenix has increased
the claim area from 818 acres at the time of its acquisition to
5,717 acres, mainly to the northwest and west, and in so doing has
increased the potential for additional oxide and sulphide resources
by a total strike length of approximately 2,500 metres towards
another brownfield mine, the Horseshoe Mine, which is now within
the property boundary.
The Company also holds two prospective cobalt properties in
Idaho, US, which are located north of the Empire Mine. These are
situated close to the town of Cobalt and are close to projects
being advanced by Canadian junior miners, including eCobalt
Solutions and First Cobalt. Fieldwork, consisting of mapping and
sampling and locating drill holes for the 2019 drilling programme,
has been completed.
With a management team that has successfully constructed,
commissioned and operated mines and low risk, mining-friendly
jurisdictions with excellent infrastructure, Phoenix is looking to
fulfil its ambitions to become a mid-tier base metal, precious
metal and cobalt production company, offering exposure to high
value and high demand metals with compelling demand/supply
fundamentals.
More details on the Company, its assets and its objectives can
be found on PXC's website at www.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.
END
BOALRMATMBATBTL
(END) Dow Jones Newswires
September 30, 2019 02:03 ET (06:03 GMT)
Grafico Azioni Phoenix Global Mining (LSE:PGM)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Phoenix Global Mining (LSE:PGM)
Storico
Da Apr 2023 a Apr 2024