12th Feb 2020 09:30
(Alliance News) - Phoenix Copper Ltd on Wednesday said it is encouraged by the findings in an environmental study for the Empire mine in Idaho.
The study found no critical habitats would be threatened by the development of the mine, while legacy mining operations have not damaged surface or groundwater quality.
Further, no sage grouse nor their breeding sites were found in the area, and no "significant" cultural or archaeological artefacts were discovered.
The baseline environmental study began in June 2017, and was carried out by Cascade Earth Sciences. The Empire mine is a historically producing mine, with Phoenix taking it over in 2017.
Chief Executive Ryan McDermott said: "The results of two years of extensive flora, wildlife, hydrological, and archaeological studies by the CES team have resulted in no critical habitat for threatened or endangered plant and wildlife species, most notably Sage grouse.
"Additionally, CES hydrologists have concluded that no legacy impacts to surface or groundwater occurred as a result of historical mining operations. CES archaeologists were also unable to identify any significant cultural artefacts on the Empire property. These findings clear the path to permitting and should have a positive effect on our permitting timeline."
McDermott took up the role of chief executive in January, having previously served as chief operating officer. He replaced Dennis Thomas, who has moved to a non-executive role.
Shares in the company were 7.0% lower on Wednesday morning in London at 9.30 pence each.
By George Collard; [email protected]
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