TSX-V-listed Phoenix Gold has entered into an option agreement to acquire a past-producing copper and zinc mine in Newfoundland.
The company entered into an agreement with WBN Prospecting to buy the York Harbour property, consisting of five mineral licences and 156 mineral claims totalling 3 900 ha.
Earliest reported production from York Harbour is from 1898 to 1913, which amounted to 90 000 t of ore grading 3% to 12% copper and 7% zinc.
Phoenix CEO Andrew Lee says the company sees significant exploration potential at York Harbour.
The project also gives the company direct exposure to the copper market.