Phoenix Gold Resources Corp.: Phoenix Gold Signs Option to Acquire Past-Producing Copper-Zinc Mine in Newfoundland
Vancouver, British Columbia (Newsfile Corp. - March 1, 2021) - Phoenix Gold Resources Corp. (TSXV: PXA) ( Phoenix Gold or the
Company ) is pleased to announce that it has entered into an option agreement with WBN Prospecting Group (the Optionor ) to acquire a 100% interest in the York Harbour Property ( York Harbour or the Property ), consisting of five mineral licences and 156 mineral claims totalling 3,900 hectares.
The Property is located 27 km west of the city of Corner Brook, Newfoundland and is accessible by a provincial highway (Route 450). The deposit at York Harbour comprises a series of stratabound, Cyprus-type volcanogenic Cu-Zn massive sulphide lenses, hosted by simply folded ophiolitic mafic volcanic rocks of the Bay of Islands Complex. Earliest reported production is from 1898 to 1913 which amounted to approximately 90,000 tons of ore grading 3-12