March 24, 2023 – RiverFort is pleased to announce that it has entered into a short-term $2,000,000 loan facility with Phoenix Copper Limited (AIM:PXC) (“Phoenix” or the “Company”) in order to strengthen US dollar operational working capital ahead of the 2023 exploration season.
Phoenix is listed on London’s AIM (PXC), and trades on New York’s OTCQX Market (PXCLF and PXCLY (ADRs)) Phoenix Copper Limited is a USA focused, base and precious metals emerging producer and exploration company, initially targeting copper and zinc production from an open pit mine.
Phoenix’s primary operations are focused near Mackay, Idaho in the Alder Creek mining district, at the 80% owned Empire Mine property, which historically produced copper at grades of up to 8%, as well as gold, silver, zinc and tungsten, from an underground mine.
Ryan McDermott, Chief Executive Officer, said, "These are exciting times for the Company, both at a corporate and an operational level. We are also looking forward to the upcoming 2023 exploration season, a primary focus of which will be a 60 hole drilling program at our Navarre Creek gold zone, which forms part of our expanded area of interest beyond the original Empire Mine claim blocks, as well as further drilling within those claim blocks themselves. I look forward to reporting on this exploration work in due course."