Phoenix Gold Limited (ASX:PXG) has commenced its 2013 drilling program, as part of a $20 million accelerated drilling programme on its Kunanalling and Zuleika shear zones in Western Australia.
Managing Director Jon Price says 2013 is shaping up to be a company defining year for Phoenix, with its drilling program already delivering excellent results.
The Kalgoorlie based emerging explorer is aiming to significantly grow its JORC classified resources and to self fund aggressive exploration opportunities.
Phoenix intends on developing advanced mining projects towards delivering cash flow in the short term.
Phoenix reported a net loss of $4.95 million in the 2012 financial year.