YORK HARBOUR PROPERTY

Project Highlights

Phoenix Gold has the option to acquire a 100% interest in the 3,900-hectare land package that comprises the old York Harbour Mine Property (650 hectares) by completing $3.0 million in accumulated work by March 2024.
Discovery includes 11 zones (“A through K”) of copper-zinc enriched massive sulphides.
Historical ore production at York Harbour Mine is reported from the

“A Zone” totalling ~100,000 tonnes 3-12% Cu, 7% Zn and 1-3 oz Ag/t.

Drilled Reserve by Noranda (1992)

~ 300,000 tonnes @ 2.7% Cu, 7% Zn, 45 g Ag/t and 1.0 g Au/t including intercepts of 5.8 m @ 5.7% Cu, 7.2% Zn; and

24.5 m @ 2.1% Cu and 12.8% Zn.

Expanded License Area – Original (historical) land package at 700 hectares now expanded to 3,900 hectares consisting of 5 licences and 156 claims.
The York Harbour Mine Property’s seaborne location lies adjacent to both high voltage power lines and four season paved highway is 27 kms from Corner Brook, NL.
Company’s 2021 field work plans include:

1) geophysical and lithological survey

2) exploration diamond drilling

3) assess of re-establishing access to existing underground workings

Source: Charles Dearin, P. Geo., “First Year Assessment Report (Digital Compilation) On The York Harbour VMS Project, Bay Of Islands Area Newfoundland”, report dated June 23, 2002 with Map 1, dated December 20, 2003, St. Johns, NL

Historical Production

Discovered in early 1890’s with shaft sinking beginning in 1897 with mining continuing to 1918
Activity resumed in early 1950’s through to 1970’s,
Mid 1960’s – begun Sea Level Adit as a means to enhance exploration and to undercut known resources to become a main haulage level but was never completed due to lack of funding
210 x Underground exploration drill holes (10,994 total drilled meters)
45 x Surface exploration drill holes (8,235 total drilled meters)
Mineralization characterized as 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)
Earlier assessment work filed by Charles Dearin, P. Geo., St. John’s, Nfld., 2003 (South Coast Ventures Inc.) and Peter Tallman, P. Geo., in April 2010 (Messina Minerals Inc.) assert the eleven zones of VMS mineralization at the York Harbour Mine Property “…collectively demonstrate good continuity in three dimensions at economically interesting grades over a significant strike length.”, and “…is prospective for copper-zinc massive sulphides deposits where there remains above-average potential for new discoveries and where totally untested stratigraphy has resource exploration upside potential from 3.0 to 8.0 million tonnes.”

Source: Mineral Occurrence Database System Report websute for Labrador and Newfoundland

Historical Drilling Summary

Note: Drill meterage compiled from the data compiled in the 9th Year Assessment Report; Compilation, Prospecting, GPS by Messina Minerals Inc (012G-0130).

Historical Resource Summary

[](https://phoenixgoldresources.ca/wp-content/uploads/2021/06/Historical-Resource-Summary-.png)Note: These resources are historical in nature and are all non-compliant with NI43-101 requirements. This information is extracted from Messina Minerals, 2009.

Exploration Potential

Discovery of 11 zones of copper-zinc enriched massive sulphides where most of the intervening area between the zones are untested and appear to be open in one or more directions.

Shallow diamond drilling completed from surface by Noranda Exploration in 1991:

Hole YH91-5 intersected 0.6 meters grading 26.2% zinc, 3.2% lead, and 0.3% copper with 583 g/t silver and 16.9 g/t gold in a new zone 400 meters south of the mine workings (“K Zone”)

Original outcropping of Zone A lens was rediscovered by Messina (2009) with five samples returned concentrations of: