- ExGen Resources Inc. (EXG) and Phoenix Copper Ltd. update on exploration and development activities at the Empire Mine Project
- Silver and lead grades encountered in the drilling are consistent with those reported in the Red Star maiden resource at the mine
- Copper, gold, and zinc were also encountered in significant quantities
- The results will be used to target a 3,000-metre drilling program for this year
- ExGen Resources Inc. (EXG) is unchanged trading at $0.135 per share as of 3:27 p.m. EST
ExGen Resources (EXG) and Phoenix Copper have provided updates on exploration and development activities at the Empire Mine Project.
Phoenix has provided the assay results from additional drilling at the Red Star silver-lead deposit at the mine.
Silver and lead grades encountered in the drilling are consistent with those reported in the Red Star maiden resource.
Copper, gold, and zinc were also encountered in significant quantities.
The results will be used to target a 3,000-metre drilling program for this year.
During the 2021 field season, a survey was conducted in the Red Star project area.
The results identified three zones east of the Red Star discovery outcrop, which had not been apparent in the surface outcrop.
A drill rig became available in October, and seven exploratory holes in various locations throughout the zones were then drilled.
All seven drill holes encountered mineralization consistent with the grades in the maiden Red Star resource.
This demonstrates the widespread polymetallic mineralization at Empire and the continuity of a northerly trending system.
ExGen owns 20 per cent and Phoenix owns 80 per cent of the leases and claims to the project.
In addition to ongoing exploration programs, Phoenix continues to focus its efforts on the Empire Open-Pit copper oxide feasibility study.
The study is scheduled for completion in Q2 of 2022.
ExGen Resources Inc. (EXG) is unchanged trading at $0.135 per share as of 3:27 p.m. EST.
