TIDMPXC
RNS Number : 0953D
Phoenix Copper Limited
01 March 2022
Phoenix Copper Limited / Ticker: PXC / Sector: Mining
1 March 2022
Phoenix Copper Limited
('Phoenix' or the 'Company')
PHOENIX ADVANCES ESG AGENDA AND CREATES COMMUNITY ADVISORY
TEAM
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 an update on the
Company's environmental, social and governance ("ESG") activities.
Phoenix's continued efforts to build meaningful relationships in
the communities near the Empire Mine Project in Idaho, USA will be
enhanced by the newly formed community committee, the Konnex
Community Advisory Team ("KCAT").
KCAT
KCAT is composed of three representatives from Phoenix and
Konnex Resources Inc ("Konnex"), Phoenix's 80% owned operating
subsidiary in Idaho , plus ten independent residents of Custer and
Butte Counties, Idaho. The residents bring diverse experience from
the following sectors: citizens, municipal, land-users,
socio-economic (business) and research/training.
The team will meet at least four times each year and will elect
its own independent facilitator. The Company anticipates that
KCAT's roles will include, but not be limited to:
-- Facilitating communication between the Company and the
community to include a wider audience of stakeholders.
-- Forming a Good Neighbor Agreement, modelled on similar
arrangements which have worked successfully elsewhere.
-- Formulating a grievance process designed to address concerns
and complaints and to be instrumental in resolving them.
-- Identifying ways for the Company to best benefit the
community and local schools, including scholarship recipients.
-- Compiling a local vendor/contractor/supplier list so the
Company can better support local businesses whenever possible.
Catherine Evans, Non-executive Director and Chairman of the ESG
& Sustainability Committee said : "We believe it is critical to
involve all of the residents and business owners in closest
proximity to our Empire Mine project and have therefore invited
applications for the KCAT from all residents of Custer and Butte
Counties. The Company is fortunate to have widespread local
support, but we do not take this for granted and would like to
foster an open dialogue with any individual or group who may have
questions and concerns about the impact of our proposed future
operations.
"The Company has always fostered a culture of openness with
investors and stakeholders, and the formation of the KCAT continues
this tradition. We very much look forward to working directly with
community representatives to foster goodwill and to ensure a wider
understanding of the Company's operations.
"The first KCAT meeting is scheduled early this month. A summary
of the meeting's discussion points and agreed actions will be
posted on our website."
Environmental, Social, and Corporate Governance
Phoenix is committed to meeting and exceeding the environmental
standards required by law as a core value of the Company. The
baseline environmental data collected to date will be used for
furthering the permitting process, but as importantly, will be used
as the building blocks for the Company's ongoing Environmental,
Social, and Corporate Governance (ESG) platform, overseen by the
Company's ESG & Sustainability Committee.
Contacts
For further information please visit https://phoenixcopperlimited.com or contact:
Phoenix Copper Limited Ryan McDermott Tel: +1 208 954
Dennis Thomas 7039
Richard Wilkins Tel: +44 7827
290 849
Tel: +44 7590
216 657
SP Angel Corporate David Hignell / Caroline Rowe Tel: +44 20 3470
Finance LLP (Nominated 0470
Adviser)
------------------------------------ -----------------
Tavira Securities Jonathan Evans / Oliver Stansfield Tel: +44 20 7100
Limited (Joint Broker) 5100
------------------------------------ -----------------
WH Ireland (Joint Harry Ansell / Adam Pollock Tel: +44 20 7220
Broker) / Katy Mitchell 1666
------------------------------------ -----------------
Panmure Gordon (UK) John Prior / Hugh Rich / Ailsa Tel: +44 20 7886
Limited (Joint Broker) Macmaster 2500
------------------------------------ -----------------
EAS Advisors (US Matt Bonner / Rogier de la Rambelje Tel: +1 (646)
Corporate Adviser) 495-2225
------------------------------------ -----------------
Blytheweigh Tim Blythe / Megan Ray Tel: +44 20 7138
(Financial PR) 3204
------------------------------------ -----------------
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 from
late 2022.
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 resulted in the publication of a NI 43-101 PEA in October
2020 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 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 the Navarre Creek
Project, 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
significant opportunity to increase the resource through phased
exploration. The stated aim of the Company is to fund this phased
exploration through free cashflow 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 Corporation (formerly First
Cobalt Corporation), 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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END
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