Phoenix Copper (AIM:PXC), the AIM-quoted, US-focused base and precious metals producer and explorer, has appointed Hardrock Consulting, metallurgist Deepak Molhatra and Valley Science and Engineering to update the Empire Open-Pit pre-feasibility study and open-pit mineral resources and reserves.
The updated studies will underpin future work, including final feasibility engineering and a revised Plan of Operations at the company's flagship Empire Mine in Idaho's Alder Creek mining district.
Phoenix expects the new reserve figures to reflect the rise in metal prices since its last update, published in mid-2024, which put proven and probable reserves at 10.1 million tonnes containing 109.49 million lbs of copper, 104,000 oz of gold and 4.65 million oz of silver, equivalent to 66,467 tonnes of copper.
"With metals prices having strengthened since then, I look forward to seeing the impact this could have on the updated mineral reserves," said Ryan McDermott, chief executive officer.
He added that all three appointed parties have a longstanding relationship with the company and detailed knowledge of the Empire project.
Phoenix holds an 80% stake in Empire and expects to complete the technical studies by the end of the year.
