Fast tracking low cost, open-pit copper production with significant exploration upside

Phoenix is a US-focused base metal explorer and developer focussed on advancing the Empire Mine in Idaho into open pit copper oxide production, with additional upside available from potential underground development.  The Company also holds two prospective cobalt properties in Idaho, US, which are located north of the Empire Mine.

The Company intends to deliver production from the Empire Mine in two phases in order to minimise upfront capital requirement and lead-time to cash flow.

Phase 1
Open-pit oxide development

Target: Production of 7,000t per annum from 2020 via low capex leaching and SX-EW operation

  • Expand JORC open pit resource
  • PFS by Q2 2018 (underway)
  • BFS from Q2 2018
  • Project financing and construction Q2-Q4 2019
  • Commence production Q1 2020

Sulphide Exploration and development

Target: Apply systematic exploration of copper sulphides at shallow depth below oxide resource and along strike

  • Exploration underway – underground mine contractor appointed September 2017
  • Initial focus at depth below the oxide resource
  • Evaluate additional metal credit potential, including gold, silver and tungsten
    • Gold - historical intercepts include 5.72g/t Au (inc. 1.5m at 26.4g/t)
    • Silver - historical intercepts include 9m at 126.6g/t Ag
    • Tungsten - individual grab samples have been as high as 4.3WO3