Phoenix Copper (ASX:PNX) has been granted an ASX trading halt in relation to results from recent drilling at the Hayes Creek Project in the Northern Territory.
The halt will last until the earlier of the announcement being made or the commencement of trade on Friday, 23rd January 2015.
In December, results from the company’s first diamond hole at the Iron Blow deposit within Hayes Creek indicated it had intersected two thick zones of massive sulphides.
Iron Blow was previously mined in the 1980s, producing 35,000 tonnes at 7.6 grams per tonne gold and 328g/t silver.
The company has also released a JORC 2012 Inferred Resource Estimate containing 200,000 ounces of gold, 10 million ounces of silver and 125,000 tonnes of zinc at potentially mineable grades for the Iron Blow deposit. This is amenable to open pit mining methods.
Add to My Watchlist
What is My Watchlist?