RCS - Phoenix Copper Ltd - Phoenix Subsidiary Welcomes New General Manager

Phoenix CopperAnnouncement

05/01/2023 07:00

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RNS Number : 7111L  Phoenix Copper Limited  05 January 2023

Phoenix Copper Limited / Ticker: PXC / Sector: Mining

5 January 2023

Phoenix Copper Limited

("Phoenix" or the "Company")

 

Phoenix Subsidiary Welcomes New General Manager

 

Phoenix Copper Ltd (AIM: PXC, OTCQX ADR: PXCLY), the AIM quoted USA-focused
base and precious metals emerging producer and exploration company, is pleased
to announce the appointment of David Jarvis as the new General Manager of the
Company's Idaho registered operating subsidiary, Konnex Resources Inc
("Konnex").

Mr Jarvis has an extensive background managing mining operations from
exploration through production. His approximately 40 years of project
management and mine operation experience includes being Managing Director for
Eldorado Gold's operations in the People's Republic of China and Vice
President / General Manager for Coeur Mexicana. His start-up experience
includes Newmont's Batu Hijau Mine in Indonesia and the Thompson Creek Mine in
Idaho. Mr Jarvis received a Bachelor of Science Degree in Mining Engineering
from the Pennsylvania State University and is a full-time resident of Custer
County, Idaho.

David Jarvis, General Manager of Konnex Resources, said: "I am thrilled to
join Konnex and have the opportunity to bring my global experiences in the
mining sector back to Custer County. It is a very exciting and important time
for Konnex as we finalize the plans to bring the Empire open pit copper mine
into development and advance our neighboring exploration properties. The
Konnex team is very talented and I am eager to continue building on their
great work to date."

Ryan McDermott, Chief Executive Officer of Phoenix Copper Limited, said:
"Dave has wide-ranging experience in the mining industry and will prove to be
incredibly valuable to the Company. For decades, Dave has successfully managed
mine projects from the beginning stages of exploration through to production.
I have full confidence that under his direction the Empire mine and our
surrounding properties will have their fullest potentials realized."

David Jarvis replaces Zach Black as General Manager. Mr Black will continue to
support Konnex's operations as the Qualified Person (QP) focusing on mining
and process engineering.

 Contacts

For further information please visit www.phoenixcopperlimited.com or contact:

 Phoenix Copper Limited                      Ryan McDermott                                Tel: +1 208 954 7039

                                             Brittany Lock                                 Tel: +1 208 794 8033

                                             Richard Wilkins                               Tel: +44 7590 216 657
 SP Angel (Nominated Adviser)                David Hignell / Kasia Brzozowska              Tel: +44 20 3470 0470
 Tavira Financial Limited (Joint Broker)     Jonathan Evans / Oliver Stansfield            Tel: +44 20 7100 5100

 WH Ireland (Joint Broker)                   Harry Ansell / Katy Mitchell                  Tel: +44 207 2201666
 Panmure Gordon (UK) Limited (Joint Broker)  John Prior / Hugh Rich / Ailsa Macmaster      Tel: +44 20 7886 2500
 EAS Advisors (US Corporate Adviser)         Matt Bonner / Rogier de la Rambelje           Tel: +1 (646) 495-2225
 BlytheRay                                   Tim Blythe / Megan Ray                        Tel: +44 20 7138 3204

(Financial PR)

 

Notes

Phoenix Copper Limited is a USA focused, base and precious metals emerging
producer and exploration company, initially targeting copper and zinc
production from an open pit mine.

Phoenix's primary operations are focused near Mackay, Idaho in the Alder
Creek mining district, at the 80% owned Empire Mine property, which
historically produced copper at grades of up to 8%, as well as gold, silver,
zinc and tungsten, from an underground mine.

Since 2017, Phoenix has carried out extensive drill programmes which have
defined a NI 43-101 compliant PEA (preliminary economic assessment) for an
open pit heap leach solvent extraction and electrowinning ("SX-EW") mine,
which was updated in October 2020. The contained metal in all NI 43-101
compliant categories of resources, Measured, Indicated and Inferred, stand at
129,641 tonnes of copper, 355,523 ounces of gold, 10,133,772 ounces of silver
and 58,440 tonnes of zinc. Phoenix updated its economic model in February
2021 to include the processing of all contained metals through a two phased
approach.

In addition to Empire, the district includes the historic Horseshoe, White
Knob and Blue Bird Mines, past producers of copper, gold, silver, zinc, lead
and tungsten from underground mines. A new discovery at Red Star, 330 metres
northwest of the Empire Mine proposed open pit, has revealed high-grade
silver/lead sulphide ore, and from three shallow exploration drill holes a
maiden inferred resource of 103,000 tonnes containing 173.4 g/tonne silver,
0.85 g/tonne gold and 3.85% lead (1.6 million ounces silver equivalent) was
reported in an NI 43-101 technical report published in May 2019. Additionally,
the district includes Navarre Creek, a volcanic hosted precious metals target
in a 14.48 sq km area. The Company's total land package at Empire comprises
8,034 acres (32.51 sq kms).

At Empire, it is estimated that less than 1% of the potential ore system has
been explored to date and, accordingly, there is a significant opportunity to
increase the resource through phased exploration. The stated aim of the
Company is to fund this phased exploration through free cash flow generated by
its initial mine. A Plan of Operations in respect of the initial open pit mine
was filed with the relevant regulatory authorities in June 2021.

Phoenix also has two wholly owned cobalt properties on the Idaho Cobalt Belt
to the north of Empire. An Earn-In Agreement has been signed with Electra
Battery Materials, Toronto, in respect of one of those properties.

Phoenix is listed on London's AIM (PXC), and trades on New York's OTCQX
Market (PXCLF and PXCLY (ADRs)). More details on the Company, its assets and
its objectives can be found on PXC's website at
https://phoenixcopperlimited.com/

 

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