Energy regulators last month said the Grassy Mountain project, proposed by a unit of Australian billionaire Gina Rinehart's Hancock Prospecting, would not be in the public interest.

The results are from the ongoing expansion drill campaign the company is conducting as it prepares a PEA by the end of the year.

The company has drilled about 260,000 metres within the last three years.

The graphic takes a look at the world’s largest mining companies by market capitalization and the metals they produce.

The Phoenix probable reserve is 141,000 tonnes grading 19.1% U3O8, for 59.7 million lb. U3O8.

Additional high-grade mineralization was intersected in the footwall corridor during the same drill campaign.

"Filo del Sol is growing into one of the largest copper-gold-silver discoveries ever," company says.