Phoenix Copper Announces Additional High-grade results From Mount Bonnie Deposit

Phoenix Copper (ASX:PNX) reported additional high-grade results from drilling at its Mount Bonnie deposit. The deposit is located within the Hayes Project in the Pine Creek region of the Northern Territory.

Highlights of results included:

 Further high-grade assay results received from drilling at Mount Bonnie:

• 15m @ 6.99% Zn, 0.78g/t Au, 157g/t Ag, 0.50% Cu, and 1.14% Pb from 54m in MBRC016
• 6m (EOH) @ 7.34% Zn, 2.01g/t Au, 216 g/t Ag, 0.52% Cu, and 1.43% Pb from 54m in MBRC017

As quoted in the press release:

This 12 hole RC drill program (for 1,114 m) at Mount Bonnie was completed in late May (Figure 1 and Table 1).

Drill holes MBRC16, MBRC17 and MBRC018 were designed to test the continuation of known mineralisation to the north-west, which is a concept supported by recent modelling of electromagnetic (EM) conductors. High-grade massive sulphide mineralisation was intersected in MBRC016 and MBRC017 (Table 2). MBRC018 was abandoned short of planned depth and anticipated mineralisation due to excessive water flows.

Multi-element sulphide mineralisation in hole MBRC016 comprised an appreciable thickness of 15 metres containing 6.99% Zn, 0.78g/t Au, 157g/t Ag, 0.50% Cu, and 1.14% Pb from 54m (an equivalent gold value of 6.65 g/t), which is immediately underneath the oxide open pit (Figure 1). Hole MBRC017 positioned further to the north intersected a 6 metre zone of similar mineralisation containing 7.34% Zn, 2.01g/t Au, 216g/t Ag, 0.52% Cu, and 1.43% Pb from 54m (an equivalent gold value of 8.83 g/t). Unfortunately, technical problems were encountered during drilling (bogging of the rods in the massive sulphides) and drilling was halted, in massive sulphides, above the targeted footwall contact. As a result, the actual thickness of the massive sulphide zone was not determined for this section. Results from this partially drilled hole are significant, and as such this hole will be deepened later with diamond core to determine the full thickness of massive sulphide mineralisation in this area

Click here to read the Phoenix Copper (ASX:PNX) press release