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PHASE THREE EXPLORATION
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The third phase of exploration drilling on the Property commenced on
The third phase drilling program will continue to explore the main historical mine area focusing on expanding the existing zones of volcanic-hosted massive sulfide (“VHMS”) copper-zinc-silver-cobalt mineralization along the known 450-metre strike length. In addition to defining mineralization along strike, this drilling will also test up and down dip extensions of the known mineralization, such as the 24.3m intersection in YH21-18. Figure 2 is a plan view of the proposed Phase 3 drill sites.
A 3D Borehole EM (‘BHEM’) geophysical survey program is being carried out concurrently with the drilling to aid in identifying mineralization that might be adjacent to a completed drill hole.
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Figure 2. Map of Phoenix Gold completed drill holes and upcoming Phase 3 drill holes.
FINDINGS AND OUTLOOK
The Phase 1 diamond drilling program validated historical results within the ‘A’, ‘G’ and ‘H’ zones and beyond. It also confirmed the accessibility of mineralization from both the surface and from the existing underground workings. Nine diamond drill holes were competed in Phase 1 and 29 additional drill holes were completed in Phase 2 totalling 4,562m. Of the 38 holes drilled to date, 29 contain significant semi-massive or massive VHMS mineralization over drilling lengths of less than a metre to 26 m in drill hole YH21-18 (see the Company’s news release from
ABOUT THE
The Property is located 27 km west of the city of
Past exploration and mine development has occurred within 150 m of the surface, centered along a 350-metre section of the depositional contact between lower and upper basaltic units. A regional, slightly overturned synclinal fold is interpreted to extend and repeat the favourable mineralized horizons in the southern and western portions of the property where copper-zinc mineralization has been documented in outcrop but has received little or no modern exploration.
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Figure 3. Map of Phoenix Gold’s York Harbour Property showing initial project area containing past producing
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For the French version of this news release, past news releases, media interviews and opinion-editorial pieces by CEO and Chairman
ON BEHALF OF THE BOARD OF DIRECTORS
Telephone: 778-302-2257 | Email:andrew@phoenixgoldresources.ca
1518 – 800 Pender Street W,
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
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