Phoenix Copper is an ASX listed (ASX:PNX) minerals exploration company, with a primary focus on copper and gold.
The Company currently holds 18 exploration licences, 2 exploration license applications and 3 mineral leases, all in South Australia, with a tenement holding in excess of 5,500 square kilometres.
The current exploration focus of the Company is on two areas: the Yorke Peninsula and at the Eagle Prospect north of Burra.
Yorke Peninsula: aircore and reverse circulation drill program completed in 2013 over highly prospective iron ore copper gold (IOCG) targets, the results of which support the Company's view of the resource potential in the area.
Eagle Prospect: follow up drilling planned in mid-2013 to further define the significant copper sulphide mineralisation intercepted in the 2013 drilling program, and to test additional targets identified by the reprocessing of historical Induced Polarisation data.
The three mineral leases held by Phoenix Copper are located just north of Leigh Creek, and were acquired in 2010 along with a heap leach processing plant.
The Company produced approximately 425 tonnes of copper in cement during 2010 and 2011, however operations were put on hold at the beginning of 2012 due to low levels of copper recovery resulting in unprofitable operations.
Metallurgical studies and test work are ongoing in an effort to develop a cost efficient process to recover the remaining copper in the resource. The Comapny holds two exploration license applications in this region, increasing the opportunity for additional mineral resources.