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Phoenix Gold Begins Phase 2 Drilling at York Harbour Cu-Zn-Ag-Co Project in Newfoundland

 

Vancouver, British Columbia – TheNewswire – October 27, 2021 – Phoenix Gold Resources Corp. (TSXV:PXA) (OTC:PGRCF) (Frankfurt:5DE) (“Phoenix…

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Vancouver, British Columbia – TheNewswire – October 27, 2021 – Phoenix Gold Resources Corp. (TSXV:PXA) (OTC:PGRCF) (Frankfurt:5DE) (“Phoenix Gold” or the “Company”) is pleased to report that Phase 2 diamond drilling has begun on its York Harbour Mine Property (“York Harbour” or the “Property”) in western Newfoundland, Canada. Three drill holes have been completed during the past 10 days of a planned 27-hole diamond drilling program totalling an estimated 4,225 metres.

The on-site project geologist has reported that the latest drill hole YH21-14 intersected semi-massive and massive volcanogenic sulphide (‘VMS’) mineralization from a drilling length of 105 to 120 m.  After geological and geotechnical logging the drill core from holes YH21-13 and -14 will be transported to the Planet X Exploration facilities in Gander for sampling and later shipping to Actlabs in Ancaster, Ontario for rush ICP analyses and over-limit assaying.

Photographs of the drill core with the reported massive sulphide mineralization intersected by drill holes YH21-13 and 14 are shown as follows.


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       Massive sulphide in DDH YH21-13              Massive sulphide in DDH YH21-14

 

The Phase 1 drilling program was carried out from July 28th to August 14th.  This program, the first on the property since Wolfden Resources’ drilling in 2004, successfully validated historical drilling results with 6 of the 9 drill holes intersecting drill-indicated Cyprus-type VMS mineralization in the historical ‘A’, ‘G’ and ‘H’ zones and encountering similar mineralization both along strike and downdip of these zones.  Two diamond drill holes had to be abandoned when they encountered a wide fault zone, and a third hole intersected a section of the 400 Level adit where it lost circulation and was not completed to its intended depth.

At the present time the Company is awaiting the analytical results for 200 of 300 drill core samples from the Phase 1 diamond drilling program.  Selected mineralized intercepts from 4 of the 9 Phase 1 drill holes were reported in the Company’s news release dated October 12th.  A few of those mineralized intercepts that were previously reported for drill holes YH21-04, -06, -08 and –09 are as follows.

DDH

From

To

Interval

Copper

Zinc

Silver

Target Zone

No.

(m)

(m)

(m)

(%)

(%)

(gpt)

 

YH21-04

180.03

189.54

9.51

1.69

0.13

1.43

H Zone

YH21-06

146.26

194.05

47.79

0.85

0.57

1.49

H Zone

YH21-08

122.30

128.90

6.60

0.62

0.65

3.37

G Zone

YH21-09

5.00

14.54

9.54

1.69

0.11

2.83

A Zone

 

The Phase 2 diamond drilling program has been designed to firstly better delineate the known drill-indicated VMS mineralization for future resource estimations and to explore for additional similar mineralization both along strike and downdip.  Historical underground drill holes report a number of massive and semi-massive mineralized intercepts between and along strike of the known zones but without reported assays.  At two of these historical intercepts the latest drill holes YH21-13 and 14 have confirmed significant VMS mineralization.  Thus, the Phase 2 program will include both delineation and exploration drilling.

In addition to the Phase 2 drilling program exploration work on the property has also included re-locating the No. 4 Brook adit and massive sulphide showing situated approximately 1 km from the current drilling on the eastern limb of the folded volcanic sequence which hosts known VMS mineralization.  On October 16th several field personnel visited the site and reported approximately 15 m of massive and semi-massive sulphide mineralization, including pyrite, chalcopyrite and sphalerite, in a sheared zone near the sloughed-in adit.  This showing is currently accessible via a cut trail but will require upgrading for ATV and drill rig access.  A field crew is currently cutting channel samples across the visible mineralization with shipping and analysis to follow.  This showing is scheduled to be drill tested in early 2022.

Consulting mining engineers of Gemtec, based in St Johns, have been commissioned to apply for permitting approval to enter the 400 Level adit, and in the meantime the Company is investigating the use of a lidar drone to survey the adit this year.

The following figures show the proposed locations of the Phase 2 diamond drilling on the York Harbour property.  The red coloured and hatched bodies in Figures 2 and 3 are the two-dimensional, surface-projected images of the drill-indicated VMS mineralization.  The purple hatched body is the surface projection of the 400 Level adit.


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Figure 1: Plan View of Proposed Phase 2 Diamond Drilling Program, York Harbour Property

 


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Figure 2: Plan View of North Section of Proposed Phase 2 Diamond Drilling Program


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Figure 3: Plan View of South Section of Proposed Phase 2 Diamond Drilling Program

 

About the York Harbour Mine Property

 

The York Harbour Mine Property is located approximately 27 kilometres west of Corner Brook, NL and known to be prospective for its copper-zinc-silver-gold-cobalt massive sulphide deposits. The known mineralization exhibits characteristics consistent with classic mafic-type flow dominated (Cyprus-type) VMS deposits. Similar geological environments and styles of mineralization have formed relatively large copper-zinc deposits elsewhere in Newfoundland at Tilt Cove (9 Mt of between 1% and 12% copper) and in Cyprus at the Mavrovouni mine (15 Mt of 4% copper with zinc and gold); as noted in Messina Minerals Inc. 9th Year Assessment Report (2009).

 

Copper and zinc massive sulphides were first discovered at York Harbour in 1893. Since then a total of 2,134 metres of documented underground drifting and development have been completed for which documentation is available.  Drill core logs and sampling data is available for a total of 19,323 metres of historical drilling that tested eleven lenses or zones of copper-zinc-silver-gold-cobalt massive sulphide mineralization. These zones occur over a 600-metre strike length and many remain open for expansion both along strike and downdip.

 

Most historical exploration and underground development have been concentrated within a 350- metre long segment of a stratigraphic contact between lower and upper basaltic units, and within 150 metres of surface. An overturned synclinal fold is interpreted to extend and repeat the favourable mineralized horizon along the western portion of the property where surface prospects at the No. 4 Brook showing of copper- and zinc-bearing massive sulphides have been discovered and documented in outcrop but have received very little modern exploration attention.

 

J.D. Blanchflower, P. Geo. is a qualified person in accordance with National Instrument 43-101 who has reviewed and accepted the technical material contained in this news release.

 

For further information:

 

Andrew Lee CEO, President and Director

Telephone: 778-302-2257 | Email: [email protected]

Website: www.phoenixgoldresources.ca

 

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 satisfactory completion of due diligence and any acquisition under the Option 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.

 

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 press release.

 

Copyright (c) 2021 TheNewswire – All rights reserved.

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Copper Mountain Mining Reports No Material Impact due to the Heavy Rains in B.C.

Copper Mountain Mining Reports No Material Impact due to the Heavy Rains in B.C.
PR Newswire
VANCOUVER, BC, Dec. 6, 2021

VANCOUVER, BC, Dec. 6, 2021 /PRNewswire/ – Copper Mountain Mining Corporation (TSX: CMMC) (ASX: C6C) (the “Company” or “Copper …

Copper Mountain Mining Reports No Material Impact due to the Heavy Rains in B.C.

PR Newswire

VANCOUVER, BC, Dec. 6, 2021 /PRNewswire/ – Copper Mountain Mining Corporation (TSX: CMMC) (ASX: C6C) (the “Company” or “Copper Mountain”) reports that there have been no material impacts so far to its operations, production, or concentrate shipments at the Copper Mountain mine as a result of the recent heavy rain, flooding and mudslides in British Columbia. The Copper Mountain mine trucks its concentrate to the port of Vancouver and while there have been temporary road closures, there have been no material impacts on concentrate shipments. The Company will continue to monitor the situation closely.

The Company’s top priority continues to be the safety and well-being of its employees and the town of Princeton. Copper Mountain has been, and will continue doing its utmost to support the community.

About Copper Mountain Mining Corporation
Copper Mountain’s flagship asset is the 75% owned Copper Mountain Mine located in southern British Columbia near the town of Princeton. The Copper Mountain Mine currently produces approximately 100 million pounds of copper equivalent per year, with average annual production expected to increase to approximately 140 million pounds of copper equivalent.  Copper Mountain also has the 100% owned development-stage Eva Copper Project in Queensland, Australia and an extensive 2,100 km2 highly prospective land package in the Mount Isa area. Copper Mountain trades on the Toronto Stock Exchange under the symbol “CMMC” and Australian Stock Exchange under the symbol “C6C”.

Additional information is available on the Company’s web page at www.CuMtn.com.

Cautionary Note Regarding Forward-Looking Statements
This document may contain “forward looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). These forward-looking statements are made as of the date of this document and Copper Mountain does not intend, and does not assume any obligation, to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable securities legislation.

All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements relate to future events or future performance and reflect our expectations or beliefs regarding future events.

In certain circumstances, forward-looking statements can be identified, but are not limited to, statements which use terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “forecasts”, “guidance”, scheduled”, “target” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved” or the negative of these terms or comparable terminology. In this document, certain forward-looking statements are identified including, production and cost guidance, anticipated production at the Copper Mountain Mine, expectations regarding the impact of the COVID-19 pandemic on operations, financial condition and prospects, anticipated metals prices and the anticipated sensitivity of the Company’s financial performance to metals prices, events that may affect its operations and development projects, anticipated cash flows from operations and related liquidity requirements, the anticipated effect of external factors on revenue, such as commodity prices, estimation of mineral reserves and resources, mine life projections, reclamation costs, economic outlook, government regulation of mining operations, and business and acquisition strategies. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance, achievements and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, among others, the successful exploration of the Company’s properties in Canada and Australia, market price, continued availability of capital and financing and general economic, market or business conditions, the reliability of the historical data referenced in this document and risks set out in Copper Mountain’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. The potential effects of the COVID-19 pandemic on Copper Mountain’s business and operations are unknown at this time, including Copper Mountain’s ability to manage challenges and restrictions arising from COVID-19 in the communities in which Copper Mountain operates and its ability to continue to safely operate and to safely return the business to normal operations. The impact of COVID-19 is dependent on a number of factors outside of the Company’s control and knowledge, including the effectiveness of the measures taken by public health and governmental authorities to combat the spread of the disease, global economic uncertainties and outlook due to the disease, and the evolving restrictions relating to mining activities and to travel in certain jurisdictions in which Copper Mountain operates. Although Copper Mountain has attempted to identify important factors that could cause our actual results, performance, achievements and opportunities to differ materially from those described in our forward looking statements, there may be other factors that cause our results, performance, achievements and opportunities not to be as anticipated, estimated or intended, believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Accordingly, readers should not place undue reliance on our forward-looking statements.

Cision View original content:https://www.prnewswire.com/news-releases/copper-mountain-mining-reports-no-material-impact-due-to-the-heavy-rains-in-bc-301438154.html

SOURCE Copper Mountain Mining Corporation






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CSE Bulletin: Suspensions (MJRX, AVBT, XRA, GOH, FUZN, BYT)

Toronto, Ontario–(Newsfile Corp. – le 6 décembre/December 2021) Effective immediately, the following companies are suspended pursuant to CSE Policy…

Toronto, Ontario–(Newsfile Corp. – le 6 décembre/December 2021) Effective immediately, the following companies are suspended pursuant to CSE Policy 3. The suspensions are considered Regulatory Halts as defined in National Instrument 23-101 Trading Rules. Cease Trade Orders have been issued by one or more securities commissions.

For more information about Cease Trade Orders, visit the Canadian Securities Administrators Cease Trade Order database at www.securities-administrators.ca

_________________________________

En vigueur immédiatement, les sociétés suivantes sont suspendues conformément à la politique 3 du CSE. Les suspensions sont considérées comme des arrêts réglementaires au sens du Règlement 23-101 sur les règles de négociation. Un ordre d’interdiction d’opérations a été émis par une ou plusieurs commissions des valeurs mobilières.

Pour en savoir plus sur les ordonnances d’interdiction d’opérations, visitez la base de données des ordonnances d’interdiction d’opérations des Autorités canadiennes en valeurs mobilières à www.securities-administrators.ca

Company Name/

Nom de la compagnie

Symbol/

Symbole

Securities Commission/

Commission des Valeurs Mobilières

Global Health Clinics Ltd.

MJRX

British Columbia Securities Commission and Ontario Securities Commission

Avisa Diagnostics Inc. AVBT

Ontario Securities Commission

XRApplied Technologies Inc. XRA British Columbia Securities Commission and Ontario Securities Commission
GoldHaven Resources Corp. GOH British Columbia Securities Commission and Ontario Securities Commission
High Fusion Inc. FUZN Ontario Securities Commission
BYT Holdings Inc. BYT British Columbia Securities Commission and Ontario Securities Commission

 

If you have any questions or require further information please contact Listings at (416) 367-7340 or E-mail: [email protected]

Si vous avez des questions ou si vous avez besoin d’informations supplémentaires, veuillez contacter le service des inscriptions au 416 367-7340 ou par courriel l’adresse: [email protected]




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Tarku Closes $750,000 Private Placement Financing

MONTREAL, QC / ACCESSWIRE / December 6, 2021 / Tarku Resources Ltd (TSXV:TKU)( FRA:7TK)(OTCQB:TRKUF) (the "Company" or "Tarku") announces that it has closed…

MONTREAL, QC / ACCESSWIRE / December 6, 2021 / Tarku Resources Ltd (TSXV:TKU)( FRA:7TK)(OTCQB:TRKUF) (the “Company” or “Tarku”) announces that it has closed on December 3rd, 2021, a non-brokered private placement (the “Private Placement”) for aggregate gross proceeds of $750,000. This Private Placement is comprised of 7,500,000 Flow-Through Shares of the Company at a price of $0.10 per share.

In addition, the Company expects closing a second Private Placement before December 17, 2021, that will consist of a maximum 2,500,000 units at a price of $0.10 per unit, for a maximum of $250,000. Each unit will consist of one common share and one-half (1/2) common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one common share at a price of $0.15 per common share for a period of 24 months after the closing.

All securities issued pursuant to the Private Placement will be legended with a hold period of four (4) months and one day from the date of issuance. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

The Company paid finder’s fees in a cash commission equal to 7% of aggregate proceeds from the sale of Units sourced by the finder totaling $38,500, as well as finder’s warrants (the “Finder’s Warrants”) in an amount of 385,000 which is equal to 7% of the aggregate number of Units sourced by the finder pursuant to the Private Placement. Each Finder’s Warrant is exercisable to purchase one Common Share at an exercise price of $0.15 until December 3rd, 2023.

The net proceeds of the Private Placement will be used to fund the Company’s precious metals exploration projects in Quebec (Apollo, Atlas Apollo and Admiral). The Private Placement has been conditionally accepted by the TSX Venture Exchange.

About Tarku Resources Ltd. (TSX.V: TKU – FRA: 7TK – OTCBQ: TRKUF)

Tarku is an exploration company focused on new discoveries in favourable mining jurisdictions such as Quebec and Arizona. In Quebec, Tarku owns 100% of the “Three A‘s” exploration projects, (Apollo, Admiral and Atlas Projects), in the Matagami Greenstone belt, which has been interpreted by management as the eastern extension of the Detour Belt, and which has seen recent exploration successes by Midland Exploration Inc., Wallbridge Mining Company Ltd., Probe Metals Inc. In Arizona, in the Tombstone district, Tarku owns the option to acquire 75% on 20km2 in the Silver Strike Project.

Tarku Contact Information:

Email: [email protected]
Website: www.tarkuresources.com

Please follow @TarkuResources on LinkedIn, Facebook, Twitter and Instagram.

Neither 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 release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports including the annual report or in the filings made by Tarku from time to time with securities regulatory authorities.

SOURCE: Tarku Resources ltd.

View source version on accesswire.com:
https://www.accesswire.com/675814/Tarku-Closes-750000-Private-Placement-Financing





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