Phoenix Global Mining adds 33 claims to Empire mine

The AIM-traded firm said the 33 mining claims totalling 564 acres were acquired around the previously-producing Horseshoe Mine, along strike and to the north of the Empire Mine orebody.

It said the Empire Mine land position increased by 70% from 819 acres to a total land package of 1,383 contiguous acres, with the new claims extending the exploration area to the north of the existing AP open pit resources by approximately 1.2 kilometres.

Copper, lead, zinc, silver and gold production from the Horseshoe Block was recorded as recently as 1979, the board said, with reported grades of 3.8% copper and 12% zinc.

Claims had been staked and registered in the name of Phoenix's subsidiary Konnex Resources, for a cost of $6,995.

“The addition of the Horseshoe Block to the Empire Mine property package nearly doubles our previous footprint, is contiguous to our existing land position and extends the exploration area along strike to the north of the existing resources in the AP Pit by approximately 1.2 kilometres,” said Phoenix CEO Dennis Thomas.

“The surface geology, as well as the historically recorded copper, lead, zinc, silver and gold production from the numerous workings in the Horseshoe Block, provide solid evidence that mineralisation is not limited to the immediate Empire Mine resource area.

“The Horseshoe Block also provides us a greater footprint for future operations in the existing resource area for minimal cost.”