TIDMPXC
RNS Number : 3713E
Phoenix Copper Limited
07 July 2021
Phoenix Copper Limited / Ticker: PXC / Sector: Mining
7 July 2021
Phoenix Copper Limited
("Phoenix", the "Company" or the "Group")
Creation of ESG & Sustainability Committee
Phoenix Copper Limited (AIM: PXC, OTCQX: PXCLF), the AIM quoted
USA focused base and precious metals emerging producer and
exploration company, is pleased to announce the creation of an
Environmental, Social and Governance ("ESG") and Sustainability
Committee (the "ESG Committee") that will enhance its social and
environmental strategy as a responsible corporate citizen, as the
Company enters the next stage of its development in becoming a
producing mining company.
Highlights
- Board level ESG & Sustainability Committee created
- Catherine Evans to chair the ESG Committee
- Roger Turner, Dennis Thomas and Harry Kenyon-Slaney to sit on the ESG Committee
The ESG Committee
The ESG Committee will serve as the principal oversight body in
relation to ESG and sustainability policies, to ensure
accountability and compliance with the Group's sustainable
development responsibilities and commitments.
The Committee will coordinate with the Group's ESG Programme
Coordinator in Mackay, Idaho and will oversee, on behalf of the
Board, Group level policies, processes, and strategies designed to
manage the safety, health, environment, socio-political and supply
chain, community development and infrastructure risks, obligations
and opportunities that will arise as the Group further develops its
projects and moves towards production.
Marcus Edwards Jones, Executive Chairman, commented: "The
production of copper, silver and cobalt, as well as gold, means we
can contribute towards the global transition to clean energy, and
particularly the Biden Administration's electrification programme.
We will also provide employment and other opportunities to boost
the local economy in Custer County, Idaho. Our newly created ESG
Committee will assist in overseeing this process and I am delighted
that Catherine Evans has agreed to be its first chairman.
"We will be investing in innovation to make our operations
cleaner and safer. The newly created ESG Committee will play a key
role in our mining operations as we strive to be a responsible
corporate citizen promoting a trustworthy corporate culture,
working closely with Lenie Wilkie, our ESG Programme Coordinator in
Mackay, and with the local community."
Contacts
For further information please visit
https://phoenixcopperlimited.com or contact:
Phoenix Copper Ryan McDermott Tel: +1 208
Limited Dennis Thomas 954 7039
Richard Wilkins Tel: +44 7827
290 849
Tel: +44 7590
216 657
SP Angel (Nominated David Hignell / Caroline Tel: +44 20
Adviser) Rowe 3470 0470
---------------------------- ---------------
Brandon Hill Jonathan Evans / Oliver Tel: +44 20
Capital (Joint Stansfield 3463 5000
Broker)
---------------------------- ---------------
WH Ireland (Joint Harry Ansell / Adam Pollock Tel: +44 207
Broker) / Katy Mitchell 2201666
---------------------------- ---------------
Panmure Gordon John Prior / Hugh Rich Tel: +44 20
(UK) Limited / Ailsa Macmaster 7886 2500
(Joint Broker)
---------------------------- ---------------
EAS Advisors Matt Bonner / Rogier de Tel: +1 (646)
(US Corporate la Rambelje 495-2225
Adviser)
---------------------------- ---------------
Blytheweigh Tim Blythe / Megan Ray Tel: +44 20
(Financial 7138 3204
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 from
late 2022.
Phoenix's primary operations are focused near Mackay, Idaho in
the Alder Creek mining district, at the 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 355,523
ounces of gold, 129,641 tonnes of copper, 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 north west of the
Empire Mine proposed open pit, has revealed high grade silver /
lead sulphide ore and from three shallow exploration drill holes a
NI 43-101 compliant maiden resource of 1.6 million silver
equivalent ounces was reported. Additionally, the district includes
Navarre Creek, a volcanic hosted, Carlin-type gold discovery which
hosts a 6.1 km gold strike length within a 9.8 km(2) area.
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 Idaho authorities in June 2021.
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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