VANCOUVER, British Columbia, Feb. 08, 2023 (GLOBE NEWSWIRE) -- York Harbour Metals (TSXV:YORK) (OTCPink:YORKF) (FSE:5DE0), an exploration and development company focused on its 100%-owned York Harbour Copper-Zinc-Silver project in Newfoundland is featured in InvestmentPitch Media video.
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For more information about this news along with comments from Michael Williams, Chairman of York Harbour Metals, please view the InvestmentPitch Media video. The video is available for viewing on “InvestmentPitch” or on “YouTube”. If the link is not available, please visit www.InvestmentPitch.com and enter “York Harbour” in the search box.
The past producing, high-grade Copper-Zinc-Silver Project, is located 27 km west-northwest of Corner Brook, Newfoundland. The 4,725-hectare expanded license area consists of 5 licenses and 156 claims.
The company recently announced drill core assay results for thirty-eight of forty-two holes from its 2022 Phase 4 drill campaign. Hole DDH YH22-107 intersected 8.97 m at 4.727% copper, 10.195% zinc, 22.69 gpt silver and 91.49 gpt cobalt, the highest grade of copper-zinc drill intercept to date in the A Zone and comparable to historical direct-shipping mined mineralization. The intersection was above and parallel to the old mine workings which were approximately 20 metres from where the historic mineralization was mined between 1897 to 1913.
Drill hole YH22-78 and YH22-71 continued to extend mineralization of the H Zone which remains open for expansion at depth. DDH YH22-78 intersected multiple intercepts of mineralization, with the most significant being 8.80 m of 3.228% copper, 0.123% zinc, 3.90 gpt silver and 270.72 gpt cobalt from 190.2 to 199.0 m. DDH YH22-71 intersected 20.5 metres of mineralization grading 1.298% copper, 0.053% zinc, 0.78 gpt silver and 118.47 gpt cobalt. This 2021 interval from Hole YH21-22, returned massive sulphides of 5.26 m of 2.844% copper, 31.964% zinc and 420.09 g/t silver, within 20.38 m grading 1.69% copper, 11.91% zinc, and 18.25 g/t silver.
The company plans to continue drilling the 11 known mineralized zones and test other new massive sulphide targets, like the No 4 Brook showing, while focusing on gaining access to the 400-level and sea level adits.
The company recently announced the closing of its acquisition of Newbay Mining, thereby acquiring the Rare Earth Elements mineral property in Western Newfoundland, known as the Bottom Brook Property. York Harbour paid $100,000 and issued 5,081,293 shares at a deemed price of $0.492, representing total compensation of $2.5 million.
Bruce Durham, President and CEO, stated: "2023 is shaping up to be a busy and extremely exciting year for York Harbour in western Newfoundland. The closing of the transaction on the Bottom Brook Rare Earth project provides us with another critical metals project, the only one of its kind on the island of Newfoundland. In the coming weeks we will be providing regular updates on plans and progress on this large-scale, very under-explored rare earth element project that boasts excellent logistics an important factor in any potential mine development. We can now commence technical investigations, some initial fieldwork, and make plans for a significant spring field program to define initial drill targets. We know the property hosts very high grade Rare Earth assays from both surface samples and historic drill core, there is a very large area of favourable geology and there is potential to use modern techniques to define drill targets quickly. With industry and governments now focused on defining new non-Chinese sources of rare earths with excellent infrastructure in stable jurisdictions, this project is exactly what people are looking for."
The shares are trading at $0.47. For more information, please visit the company’s website, www.YorkHarbourMetals.com, contact Bruce Durham, President and CEO, at 778-302-2257 or by email at info@YorkHarbourMetals.com.
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