Vancouver, British Columbia–(Newsfile Corp. – July 28, 2022) – YORK HARBOUR METALS INC. (TSXV: YORK) (OTC Pink: YORKF) (FSE: 5DE0) (the “Company” or “York”) is pleased to announce the acquisition of the Gregory River property (‘Gregory River’) situated on the northern coast of the Bay of Islands, approximately 22 km due north of the Company’s York Harbour Copper-Zinc-Silver or 36 km northwest of the City of Corner Brook in western Newfoundland.
The Gregory River property is comprised of 10 mineral licenses totalling 415 claims and covering 10,375 hectares (103.75 sq km or 40.06 sq mi). As a result of this acquisition and the additional claims added to the York Harbour property to the south, the Company now owns and operates two properties with known copper-zinc (+/- silver, gold, lead, cobalt) potential within the Bay of Islands Ophiolite Complex. The Gregory River claims were acquired via a staking agreement with the original vendors of the York Harbour property. Staking fees of $53,950 have been paid to the vendor and there are no royalties on the claims.
These two properties total 604 claims and cover 15,100 hectares (151 sq km or 58.3 sq mi), which more than triples the Company’s land claim area in Newfoundland.
The Company plans to conduct a preliminary geological mapping and rock geochemical survey to assess the exploration potential within this large claim holdings and identify specific targets for follow-up geophysical and geochemical surveying prior to diamond drill testing.
Andrew Lee, CEO and President, said, “The Gregory River area is highly prospective for the same Cyprus-style Volcanogenic Massive Sulphide mineralization that the Company has discovered and is exploring for at the York Harbour Project, but also this new acquisition has good potential for both gold-bearing sulphide and quartz vein-hosted mineralization. Given the cost of staking fees to more than triple our land position in the Bay of Islands is tremendous value for our shareholders.”
J. Douglas Blanchflower, P. Geo. (BC and NL), a Director of York Harbour Metals Inc. and a Qualified Person in accordance with National Instrument 43-101, has reviewed and accepted the technical material contained in this news release.
About the Company
York Harbour Metals Inc. (TSXV: YORK) (OTC Pink: YORKF) (FSE: 5DE0) (formerly Phoenix Gold Resources and TSXV: PXA & OTC Pink: PGRCF) is an exploration and development company that has been focused on the York Harbour Copper-Zinc-Silver Project, a mineral property located approximately 27 km from Corner Brook, Newfoundland. In 2022 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.
On Behalf of The Board of Directors,
CEO, President, and Director
1518 – 800 Pender Street W, Vancouver, BC, Canada V6C 2V6
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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.