Phoenix Copper buoyed by exciting Burra drilling results

Mineral explorer Phoenix Copper Ltd has been buoyed by excellent drilling results at its highly prospective Burra North tenement in South Australia.
 
The significant copper findings were the result of a maiden five-hole drilling program at the tenement, which is located only 800m from and interpreted to be part of an extension of the famous Monster Mine – once the world’s second largest copper mine.
 
The drilling results include one drill hole which intercepted 1.17% copper over 22m from 94m, including two higher grade sections of 0.6m at 7.92% and 4.73% from 94.9m.
 
New Chief Executive Officer of Phoenix Copper, James Fox, said the drilling results represent a major boost for the company and provide it with the opportunity to continue to work in what is a highly significant yet largely under-explored area.
 
“We’re absolutely delighted with our initial copper results at Burra North, and will now look to embark on a major follow up drilling program as soon as possible,” said Mr Fox.
 
“These results confirm the prospectivity of copper deposits in and around the Burra region and provide an important focal point for further exploration throughout the area.
 
“We believe our Burra North project offers tremendous opportunities for the future and are excited to push ahead to the next stage of drilling.”
 
Adelaide-based Phoenix Copper listed on the Australian Securities Exchange in February 2008 and is focused on the discovery of copper and gold within its 4,200km² exploration license holding in South Australia.
 
The company’s license holding in SA includes the Burra region and the Yorke Peninsula where it is currently conducting exploration drilling at its Minlaton project with two drill rigs in operation.
 
For more information visit www.phoenixcopper.com.au
 
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Please contact Kieran Hall on (08) 8412 4100 or kieran@hughespr.com.au