Phoenix Copper is an ASX listed (ASX:PNX) minerals exploration company, with a primary focus on copper and gold.
The Company currently holds 20 exploration licences 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 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.
Burra: development ongoing of an Induced Polarisation (IP) geophysical model at 6 target areas, both north and south of the historic Monster Mine. Drilling of these targets is planned as soon as funds can be raised. Significant copper sulphide mineralisation was intercepted at the Eagle Prospect (one of the northern targets) in the 2012 maiden diamond drilling program.
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 also holds two exploration licenses in this region, increasing the opportunity for additional mineral resources.
The Company produced approximately 425 tonnes of copper 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. The Company is currently seeking a buyer for the Leigh Creek assets.