York Harbour Metals Strengthens Position with 100 Million Firetail Shares and Milestone Progress at High-Grade Copper-Zinc-Silver Project in Newfoundland
York Harbour Metals has decided against a share consolidation and received significant benefits from its Option Agreement with Firetail Resources for the Skyline Copper Project in Newfoundland. The company received AUD $200,000 and 100 million Firetail shares as first milestone payment, with additional payments of AUD $300,000 and 75 million shares expected by the 3rd anniversary. The agreement includes a 20% project interest, NSR royalty, and commitment for 10,000 metres of drilling.
Recent drilling results showed impressive mineralization, with hole YH24-123 yielding 16.07 metres at 1.58% copper, 2.55% zinc, and 5.52 g/t silver, including a high-grade zone of 3.50 metres at 6.74% copper.
York Harbour Metals ha deciso di non procedere con una consolidazione delle azioni e ha ottenuto benefici significativi dal suo Accordo di Opzione con Firetail Resources per il Progetto Skyline Copper in Newfoundland. L'azienda ha ricevuto AUD $200.000 e 100 milioni di azioni Firetail come primo pagamento di milestone, con ulteriori pagamenti di AUD $300.000 e 75 milioni di azioni previsti entro il 3° anniversario. L'accordo include un interesse del 20% nel progetto, una royalty NSR e un impegno per 10.000 metri di perforazione.
I recenti risultati di perforazione hanno mostrato una mineralizzazione impressionante, con il foro YH24-123 che ha prodotto 16,07 metri a 1,58% di rame, 2,55% di zinco e 5,52 g/t d'argento, inclusa una zona ad alta legge di 3,50 metri a 6,74% di rame.
York Harbour Metals ha decidido no realizar una consolidación de acciones y ha recibido beneficios significativos de su Acuerdo de Opción con Firetail Resources para el Proyecto Skyline Copper en Newfoundland. La compañía recibió AUD $200,000 y 100 millones de acciones de Firetail como primer pago por hitos, con pagos adicionales de AUD $300,000 y 75 millones de acciones esperados para el 3er aniversario. El acuerdo incluye un interés del 20% en el proyecto, regalías NSR y un compromiso de 10,000 metros de perforación.
Los recientes resultados de perforación mostraron una mineralización impresionante, con el pozo YH24-123 que arrojó 16.07 metros a 1.58% de cobre, 2.55% de zinc y 5.52 g/t de plata, incluyendo una zona de alta ley de 3.50 metros a 6.74% de cobre.
욕하버 메탈스는 주식 통합을 하지 않기로 결정하고, 뉴펀들랜드에 있는 스카이라인 구리 프로젝트를 위해 파이어테일 리소스와의 옵션 계약에서 상당한 이익을 얻었습니다. 회사는 첫 번째 이정표 지급으로 AUD $200,000와 1억 개의 파이어테일 주식을 받았으며, 3주년까지 AUD $300,000와 7500만 주의 추가 지급이 예상되고 있습니다. 계약에는 20%의 프로젝트 지분, NSR 로열티, 그리고 10,000미터의 시추 의무가 포함되어 있습니다.
최근의 시추 결과는 인상적인 광물화를 보여주었으며, 구멍 YH24-123은 16.07미터에서 1.58%의 구리, 2.55%의 아연, 5.52g/t의 은을 포함하여, 3.50미터의 고급 구리 구역이 6.74%의 구리를 포함하고 있습니다.
York Harbour Metals a décidé de ne pas procéder à une consolidation des actions et a bénéficié de manière significative de son Accord d'Option avec Firetail Resources pour le Projet Skyline Copper à Terre-Neuve. L'entreprise a reçu 200 000 AUD et 100 millions d'actions Firetail comme premier paiement d'étape, avec des paiements supplémentaires de 300 000 AUD et 75 millions d'actions attendus d'ici le 3ème anniversaire. L'accord comprend un intérêt de 20% dans le projet, des royalties NSR, et un engagement pour 10 000 mètres de forage.
Les résultats de forage récents ont montré une minéralisation impressionnante, le trou YH24-123 ayant produit 16,07 mètres à 1,58% de cuivre, 2,55% de zinc et 5,52 g/t d'argent, y compris une zone à haute teneur de 3,50 mètres à 6,74% de cuivre.
York Harbour Metals hat sich gegen eine Aktienkonsolidierung entschieden und erhebliche Vorteile aus seiner Optionsvereinbarung mit Firetail Resources für das Skyline-Copper-Projekt in Neufundland erhalten. Das Unternehmen erhielt als erste Meilensteinzahlung AUD $200.000 und 100 Millionen Firetail-Aktien, während weitere Zahlungen von AUD $300.000 und 75 Millionen Aktien bis zum 3. Jubiläum erwartet werden. Die Vereinbarung umfasst ein Projektinteresse von 20%, eine NSR-Royalty und die Verpflichtung zur Durchführung von 10.000 Metern Bohrungen.
Die aktuellen Bohrergebnisse zeigten eine beeindruckende Mineralisierung, wobei das Loch YH24-123 16,07 Meter mit 1,58% Kupfer, 2,55% Zink und 5,52 g/t Silber lieferte, einschließlich einer hochgradigen Zone von 3,50 Metern mit 6,74% Kupfer.
- Received AUD $200,000 and 100 million Firetail shares as milestone payment
- Additional future payments of AUD $300,000 and 75 million shares secured
- Retained 20% interest in Skyline Copper Project plus NSR royalty
- Strong drilling results with high-grade copper-zinc-silver mineralization
- None.
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2024) - YORK HARBOUR METALS INC. (TSXV: YORK) (the "Company" or "York Harbour") is pleased to announce that, following strategic review and management discussions, the Company has decided not to pursue a share consolidation at this time. York Harbour remains well-capitalized, strongly positioned for future growth, and is excited to share updates on its significant asset progress and developments.
As part of the Option Agreement with Firetail Resources Limited (ASX: FTL) ("Firetail") at the Skyline Copper Project (formerly the York Harbour Project) in Newfoundland, York Harbour has received its first milestone payment of AUD
Firetail has recently commenced a robust 5,000-meter maiden drilling campaign and reported exciting early results from the Skyline Copper Project. In particular, drill hole YH24-123 interseccted high-grade copper-zinc-silver mineralization over impressive intervals, including 16.07 metres at
The technical information regarding drill results from the Skyline Copper Project has been reviewed and approved by Firetail Resources' Qualified Person, as disclosed in Firetail's ASX release dated November 4th, 2024.
York Harbour anticipates a steady stream of results from Firetail's exploration efforts, complemented by a comprehensive geophysical survey planned for the project's expansive 16 km strike length. This program is expected to identify additional high-potential targets, and enhance the value of the Skyline Copper Project, and potentially increasing its scale and economic attractiveness.
About York Harbour Metals
York Harbour Metals Inc. (TSXV: YORK) (OTCQB: YORKF) (FSE: 5DE) is a mineral exploration and development company focused on high-grade projects in Newfoundland. The Company has recently closed the first milestone of an Option Agreement with Firetail Resources Limited on the York Harbour Copper-Zinc-Silver Project, located approximately 27 km from Corner Brook, Newfoundland. Additionally, York Harbour holds a
For further details, please contact:
Email: info@yorkharbourmetals.com
Phone: +1-604-346-7613
Website: www.yorkharbourmetals.com
About Firetail Resources
Firetail Resources (ASX: FTL) is a battery minerals company with a project portfolio focused on multiple battery mineral commodities. Firetail has commenced drilling in Peru, where its tenure includes the Picha Copper-Silver Project and Charaque Copper Project. Picha hosts multiple drill-ready targets, while Charaque has a farm-in deal with Barrick Gold Corporation. Additionally, Firetail has projects in Western Australia and Queensland, including the advanced Mt Slopeaway Project.
For more information on Firetail Resources, please visit website: www.firetailresources.com
On Behalf of the Board of Directors,
"Blair Naughty"
CEO and President
Email: info@yorkharbourmetals.com
Phone: 778-302-2257
Website: https://yorkharbourmetals.com/
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 release.
Forward-Looking Statements:
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding receipt of regulatory and, if applicable, approval from the TSXV and ASX of the remaining milestones of the Option; the Company and Firetail completing the outstanding transactions as contemplated by the Option Agreement; the Company and Firetail forming a joint venture following the exercise of the Option; and Firetail maintaining the York Harbour Project in good standing during the option period. These forward-looking statements reflect management's current expectations based on available information and are subject to various risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including adverse market conditions and other factors beyond the control of the parties. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions, regulatory and exchange requirements with respect to the Option Agreement, and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229896
FAQ
What milestone payment did York Harbour Metals (YORKF) receive from Firetail Resources in November 2024?
What were the drilling results from hole YH24-123 at York Harbour's Skyline Copper Project?
What is York Harbour Metals' (YORKF) ownership stake in the Skyline Copper Project?
