The final assays from the 2018 Empire Mine drilling programme show sulphide copper values of 7.14 per cent copper, 5.94 g/t gold, and 76 g/t silver over 1.5m outside of the resource pit shell.

CEO, Dennis Thomas, said: "We are pleased to present the results of the last seven drill holes from the 2018 Empire drill programme. The results include infill and stepout drilling in the north-western portion of the Empire property and are consistent with our expectations.

"Of particular note is the high-grade sulphide intercept of 12.80 per cent copper equivalent in drill hole KX18-62. This drill hole intercept aligns with a nearby, historically drilled intercept of similar sulphide grade and adds credence to the larger, high-grade sulphide picture that is beginning to develop. In addition, the KX18-62 sulphide intercept is open to the west and at depth.

"The infill and stepout drilling results in the oxides continue to show robust results, with 1.5m of 2.11 per cent copper equivalent and 4.6m of 1.10 per cent copper equivalent in holes KX18-58 and KX18-59, respectively.

"On another note, the last of the 2018 rock chip sample assays for our Bighorn and Redcastle cobalt projects in Lemhi County, Idaho have been received and we look forward to presenting those results in the very near future."

Phoenix has now completed a total of 8,604m of drilling at the Empire Mine, consisting of 6,328m of reverse circulation drilling and 2,276m of diamond drilling. All of the assays from the 2018 drilling, channel, and rock chip sampling have been received.