Phoenix Copper Limited (ASX: PNX) – $0.025

03 Nov 2014

Phoenix Copper has updated its Inferred Mineral Resource estimate for the Iron Blow gold-silver-copper-lead-zinc deposit located in the Pine Creek region of the Northern Territory.


The Inferred Mineral Resource estimate (in accordance with JORC Code 2012) is 2.6Mt at 2.4g/t Au, 130/g/t Ag, 0.3% Cu, 0.9% Pb and 4.8% Zn (at a minimum gold equivalent cut-off grade of 0.7g/t).


The company has planned an exploration and extensional diamond drill program to commence in November 2014 at the Iron Blow and Mount Bonnie deposits (Figure 1). The drill program is designed to define new mineralised zones, capture down hole electromagnetic surveys, obtain samples for metallurgical test work and build confidence in grade continuity within the existing resource.


PNX Iron Blow & Mt Bonnie deposits

Figure 1. Iron Blow and Mount Bonnie deposits in Northern Territory


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