- Mining group Phoenix Copper said an independent report had confirmed the potential of further high-grade silver and lead at the Red Star project in Idaho.

The report was carried out by consultant structural geologist David W. Rodgers.

It also confirmed the likely extension of Red Star through to the historically mined high-grade Horseshoe and White Knob claim blocks.

'I am pleased to provide this update for our Red Star project and present the findings of Dr. Rodgers' report, specifically as it is related to future exploration and drill hole targeting,' chief executive Ryan McDermott said.

'We are particularly excited by the similarity recognised between Red Star and the historically mined Horseshoe and White Knob claim blocks, and the potential of an extension between the two.'

'The historically mined high grade Horseshoe and White Knob claim blocks produced average grades of 204 g/t silver, 19% lead, 6.5% zinc and 0.73% copper.'

'Whilst we construct the Empire open pit copper / gold project we will continue to actively explore the Red Star and related area, with a view to early development of this exciting opportunity.'

At 8:57am: [LON:PXC] share price was 0p at 40p

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