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.
http://www.miningnewspro.com/en/News/611641/Phoenix takes option on Newfoundland copper/zinc mine