York Harbour Metals Completes Option to Acquire 100% of the York Harbour Mine Project
ca.finance.yahoo.com
Wed, May 11, 2022, 5:30 a.m.·3 min read
Vancouver, British Columbia – TheNewswire - May 11th, 2022 – York Harbour Metals Inc. (the "Company" or "York") (TSXV:YORK) (OTC:YORKF) (Frankfurt:5DE0) is pleased to announce that the Company has successfully completed the earn-in to acquire 100% interest of the York Harbour Copper-Zinc Project.
The Company entered into the option agreement with WBN Prospecting Group (the "Optionor") which was reported on March 1st, 2021. The original land package consisted of five mineral licenses and 156 mineral claims totalling 3,900 hectares (or 9,637 acres).
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Figure 1: Map of York Harbour Copper-Zinc Project located 27km from the city of Corner Brook, Newfoundland
York has now fully acquired 100% interest from the Optionor by completing the following:
1) payment of $95,000 cash upon signing.
2) Issuance of 1,485,566 shares of the Company; and
3) incurred over $3,000,000 In Exploration Expenditures.
The Company completed all of the 3-year terms within about 14 months, as each Phased Exploration Program was successful.
Andrew Lee, President, CEO & Director comments, "It is a testament to our commitment and belief in the project that we completed our earn-in so quickly. We started Phase 1 drilling on July 24th, 2021, and we have now completed over 11,000 metres. All 3 phases of drilling have given us the knowledge and confidence of not only confirming the existing high-grade copper-zinc lenses in the Main Mine Zone Area but also has helped us expand the footprint of the mineralization. While we await assay results for all of Phase 3 diamond drill program, we are currently preparing to commence an advanced 3D Induced Polarization ("IP") survey to Identify additional drill targets along the 18 kms of contact and potential strike on the property."
About the Company
York Harbour Metals Inc. (TSXV: YORK) (OTCPK: YORKF) (Frankfurt: 5DE0) (formerly Phoenix Gold Resources and TSXV: PXA & OTCPK: PGRCF) is an exploration and development company focused on the York Harbour Copper-Zinc-Silver Project, a mineral property located approximately 27 km from Corner Brook, Newfoundland. The Company plans to continue drilling the strike and depth extents of Main Mine area and test the other massive sulphide targets, like the No 4 Brook showing, while focusing on gaining access to the 400-level and Sea Level adits.
For more information on York Harbour Metals please contact info@yorkharbourmetals.com Tel: +1-778-302-2257 or visit the website at www.yorkharbourmetals.com for past news releases, media interviews and opinion-editorial pieces by management.
On Behalf of The Board of Directors,
Andrew LeeCEO, President, and Director
Telephone: 778-302-2257 | Email: andrew@yorkharbourmetals.com
Website: www.yorkharbourmetals.com
1518 – 800 Pender Street W, Vancouver, BC, Canada V6C 2V6
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for development of the Company's mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.
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