Phoenix Gold drills 0.85% copper over 52.2 metres at York Harbour, Newfoundland

Phoenix Gold Resources Corp. [PXA-TSXV] reported assay results from nine diamond drill holes that were completed as part of its successful first phase of drilling on the 100%-optioned York Harbour copper-zinc-silver project 27 km west of Corner Brook, Newfoundland.

The results presented below expand upon previously released results from selected sample submissions announced on Oct. 12, 2021.

Highlights intersections from initial assay results include drill hole YH21-04 with 34 metres of 0.91% copper, 79.74 g/t cobalt, 0.66% zinc, and 0.03 g/t silver (including 0.6 metres of 8.68% copper, 424.0 g/t cobalt, 3.90% zinc, and 0.01 g/t silver). Hole YH21-06 returned 52.2 metres of 0.85% copper, 91.8 g/t cobalt, 0.53% zinc and 1.75 g/t silver (including 2.60 metres of 6.31% copper, 450.65 g/t cobalt, 4.67% zinc, and 0.01 g/t silver).

Hole YH21-08 returned 6.6 metres of 0.62% copper, 212.85 g/t cobalt, 0.65% zinc and 0.11 g/t silver. Hole YH21-09 returned 11.6 metres of 1.41% copper, 202.94 g/t cobalt, 0.10% zinc and 2.41 g/t silver.

The additional assay results from the Phase 1 confirmation drilling program further validate the historical drilling results with 9 of the 9 drill holes intersecting disseminated and massive sulphide mineralization in 296 samples, totalling 207.7 metres of sampled core. The results expand upon previously released results from selected sample submissions announced on October 12, 2021.

The assay results suggest further mineralization potential extending beyond the historical ‘A’, ‘G’ and ‘H’ zones which were the focus of the Phase 1 program. The results also highlight potential for broader zones of mineralization extending beyond the previously known extents of mineralization identified in the historical records that are available.

The results furthermore confirm the expected style of Volcanic Massive Sulphide – Cypress Type mineralization with previously undefined polymetallic mineralization types identified across zones of varying thickness and grade often at above average grade. Refer to company press release for complete assays.

Higher grades from the 2021 Phase 1 drill program combined with often broad mineralized intersections, up to 52.5 metres demonstrate excellent potential for bulk grade continuity both along strike and down dip extending beyond the known extent of mineralization identified historically at the ‘A’, ‘G’ and ‘H’ zones at the York Harbour project.

Andrew Lee, President and CEO, said, “We are very encouraged with the excellent VMS copper-zinc-silver-cobalt potential on the York Harbour property, as demonstrated by these results of the first phase of drilling results. In addition to these excellent assay results, this drilling program showed that the known mineralization is both near surface and readily accessible by the existing underground workings. Based upon these results, the Company has proceeded with expanded drilling programs in the Main area and with exploration drilling targeting several identified VMS targets elsewhere on the property.”