TIDMPXC
Phoenix Copper Limited
22 April 2022
Phoenix Copper Limited / Ticker: PXC / Sector: Mining
22 April 2022
Phoenix Copper Limited
('Phoenix' or the 'Company')
Phoenix Copper Invites New ESG Standards
Phoenix Copper Limited (AIM: PXC, OTCQX ADR: PXCLY), the
AIM-quoted USA-focused base and precious metals emerging producer
and exploration company, is pleased to recognise Earth Day by
celebrating the continued sustainability efforts of the Company's
permitting and environmental, social and governance ("ESG") teams.
The teams' commitments to environmental stewardship, social
responsibility, and economic development guide Phoenix's mission to
provide the critical and strategic minerals necessary for meeting
global green energy goals, while protecting natural resources and
boosting local economies.
Copper, cobalt, and other metals are central to the world's
transition to a clean energy future. Governments across the globe
are taking action to move away from fossil fuels and accelerate the
use of renewable energy. Industry experts have voiced concerns over
how the fast-rising demand of metals needed for renewable energy
technologies could create a shortage of the raw materials required
to meet clean energy goals. Phoenix aims to support the growing
need for clean energy materials by working toward development on
the historically producing Empire copper mine and two cobalt
exploration properties in Idaho, USA while setting new standards
for ESG at every level of Company operations.
Phoenix has committed to work with independent ESG disclosure
and oversight platforms for the mining industry which offer a set
of frameworks aligned to key global standards. All information
disclosed will be independently verified. With robust,
industry-specific reporting and disclosure of ESG metrics, the
Company can better identify best practices, risks, and
solutions.
Catherine Evans, Non-executive Director and Chairman of the ESG
& Sustainability Committee said : "From the top down, ESG is
integrated into all of our activities. The Phoenix Copper team is
eager to promote transparency and accountability into our
programme. Not only do we wish to fully disclose our extensive ESG
activities, but we would also like to develop potential solutions
for unlikely events that could have an effect on our operations. We
rely heavily on the trust and support of our community and wider
stakeholders, and we regard independent verification of our ESG
credentials as a key component of building on that trust. These
opportunities for improvement, transparency, and accountability
will allow us to create more sustainable projects both
environmentally and economically."
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 Ryan McDermott Tel: +1 208
Limited Brittany Lock 954 7039
Richard Wilkins Tel: +1 208
794 8033
Tel: +44 7590
216 657
SP Angel Corporate David Hignell / Caroline Tel: +44 20
Finance LLP (Nominated Rowe 3470 0470
Adviser)
----------------------------------- ---------------
Tavira Securities Jonathan Evans / Oliver Stansfield Tel: +44 20
Limited (Joint 7100 5100
Broker)
----------------------------------- ---------------
WH Ireland (Joint Harry Ansell / Adam Pollock Tel: +44 20
Broker) / Katy Mitchell 7220 1666
----------------------------------- ---------------
Panmure Gordon John Prior / Hugh Rich / Tel: +44 20
(UK) Limited Ailsa Macmaster 7886 2500
(Joint Broker)
----------------------------------- ---------------
EAS Advisors Matt Bonner / Rogier de la Tel: +1 (646)
(US Corporate Rambelje 495-2225
Adviser)
----------------------------------- ---------------
BlytheRay Tim Blythe / Megan Ray Tel: +44 20
(Financial PR) 7138 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.
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 our 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 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
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 Metals (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/
END
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. 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.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAPPUWWCUPPGQG
(END) Dow Jones Newswires
April 22, 2022 02:01 ET (06:01 GMT)
Phoenix Global Mining (LSE:PGM)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Phoenix Global Mining (LSE:PGM)
Gráfica de Acción Histórica
De May 2023 a May 2024
