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Phoenix Copper upgrades resource estimate for Empire mine in Idaho
StockMarketWire.com
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North America-focused miner Phoenix Copper upped the resource estimated by 19% for its Empire open pit mine in Idaho.
The mine's measured and indicated resource estimate was lifted to 22.9 million tonnes, up from 19.3 million tonnes in May, including for gold, silver, copper and zinc.
This new estimate equated to 172,912 copper equivalent tonnes, an increase of over $122 million in gross metal value at $3.00 per pound of copper.
An updated preliminary economic assessment was underway for the project, based on the resource update and recent metallurgical test work.
At 9:05am: (LON:PXC) share price was -1p at 47p
Story provided by StockMarketWire.com
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