My top stock pick for May has been junior mining stock York Harbour Metals, which trades as YORK on the TSVX and YORKF on the US OTC. Yesterday, its shares soared for a 23.81% gain on its biggest day of volume in over a year. It was a triumph for those that own the stock and came about as a result of some great news from the company.
First, check out the chart action.
You can see the big jump in volume Monday that helped drive the stock higher.
Notice too how the stock has been outperforming the S&P 500 now for over a year to cause its relative strength plot on the bottom of the chart to go up. That’s one of the characteristics you see in winning stocks and why I seek to avoid stocks and ETF’s that have declining relative strength.
If you want to beat the market the way to do it is to be in the things beating the market.
As for the company, it issued a press release on Monday to provide an update on its Phase 3 diamond drilling program at the York Harbour Copper-Zinc Project (the “Project”) that is situated approximately 27 kilometres from the city of Corner Brook, Newfoundland.
Phase 3 Exploration Highlights
- Completed 28 NQ-size diamond drill holes totaling 4,980 metres;
- 66 diamond drill holes for a total of 10,764 metres completed since July 24th, 2021;
- Long delays at the assay laboratories;
- Analytical and assay results from Phase 3 drilling program expected shortly;
- All Phase 1 and 2 drill core sample results have been reported;
- Encountered multiple zones of copper- and zinc-rich mineralization with attendant silver and cobalt within the Main Mine Area; and
- Phase 3 drilling results, based upon the visually observed VMS mineralization, will both confirm the earlier drilling results and extend the drill indicated mineralization both along strike and downdip.
“The analytical results from the Phase 1 and 2 drilling programs suggest that there may be several stratiform layers of volcanogenic massive sulphide (“VMS”) mineralization, some more copper-rich and others more zinc-rich. Also, given the structural setting within the property there is good potential for structurally repeated zones of VMS mineralization within the favourable stratigraphic contact and across the width of the folded synform. Detailed advanced geophysical surveying and follow-up exploration drilling will facilitate assessing the property’s excellent exploration potential,” reads the press release the company issued.
Bruce Durham, Chairman, commented, “Phase 1 & Phase 2 drilling programs have successfully identified, delineated, and discovered several copper-rich and zinc-rich mineralization lenses in the Main Mine Zone. The systematic drilling in Phase 3 was to infill the Main Mine Zone and begin our expansion of the 400-metre strike length. With the Permit in place, we can aggressively continue our drilling program to further expand both along strike and at depth.”
You can find the full press release with detail geological information here.
Disclosure: Mike Swanson is the author of this article. Because York Harbour Resources is a small cap stock with a market cap of less than $100 million he has put himself in a trading blackout on the stock and will not buy or sell a share of it for at least 30-days from the date of this post (04/19/2022). Wallstreetwindow.com, is owned by Timingwallstreet, Inc., which is being compensated by a third party (Leadgopher LLC DBA Pinnacle Ad Network) to conduct an investor awareness advertising and marketing campaign for York Harbour Resources. This third party paid Timingwallstreet Inc., $8,000 to produce and disseminate this and other similar articles and send traffic to them through paid advertising campaigns for 30-days from the date of this earlier post (04/03/2022). This compensation should be viewed as a major conflict with our ability to be unbiased, more specifically: This communication is for entertainment purposes only. Never invest purely based on our communication. For more on trading risks read our policy statement by clicking here.