UBS have reported Iron Blow's results in their Drill Hole Of The...

UBS have reported Iron Blow's results in their Drill Hole Of The Day report
https://neo.ubs.com/shared/d1r8Ct8aC5O

Drill hole of the Day
50.4m at 10.1% Zn, 2.7g/t Au, 283g/t Ag, 0.6% Cu
and 1.4% Pb from 156m
50.4m at 10.1% Zn, 2.7g/t Au, 283g/t Ag, 0.6% Cu and 1.4% Pb from 156m
Phoenix Copper (PNX.AX, not covered) has intersected 50.4m at 10.1% Zn, 2.7g/t Au,
283g/t Ag, 0.6% Cu and 1.4% Pb from 156m, including 19.5m at 15.5% Zn, 2.7g/t
Au, 495g/t Ag, 0.6% Cu and 2.5% Pb from 157m from the Iron Blow deposit in the
Northern Territory. Using UBS long term prices, the wider intersection equates to an
insitu value of US$606/t, the higher grade portion equates to $950/t. The result is
Phoenix's first diamond core hole subsequent to the projects acquisition in 2014.
Phoenix's drilling program is aimed at defining new mineralised positions and to lift
confidence in grade continuity. Metallurgical test work is underway.
Who is Phoenix Copper?
Phoenix Copper is an Australian base and precious metals explorer. The company's key
asset is the Hayes Creek project located 180km south of Darwin in the Northern
Territory, Australia. Phoenix acquired the Iron Blow and the Mount Bonnie deposits
from Canadian listed Crocodile Gold in late 2014. Phoenix also holds interests in South
Australian projects. The company held cash of A$2.5m as at 19 November 2014.
What is the Iron Blow project?
The Iron Blow deposit sits within the Hayes Creek project. Iron Blow is a polymetallic
base metals stratabound volcanic massive sulphide (VMS) deposit, hosted within the
Mount Bonnie formation. The massive sulphide mineralisation is dominated by
pyrrhotite with zones of coarse grained sphalerite, arsenopyrite, chalcopyrite with lesser
galena. Silver and gold is hosted within quartz veining and brecciated sediments. The
understanding of the deposit remains at an early stage, however there has been small
scale historic open pit mining. Iron Blow hosts a JORC (2012) inferred resource of
2.6Mt at 6.5g/t Au equivalent.