TSXV: ZON
HALIFAX, Oct. 29, 2019 /CNW/ - Zonte Metals is pleased to
announce the discovery of a second large gravity anomaly and
commences drilling at the K6 target on its Cross Hills IOCG
project.
The recently completed gravity survey was carried out over two
separate areas; a southern block covering the K6 and K8 areas and a
northern block covering the high priority Dunns Mountain target -
Carols Hat area. As press released on October 8, the Company announced the discovery of
the K6 gravity anomaly. Additional processing and 3D inversion
modelling of the data has identified a second anomaly on the
southern block called the K7 target, sitting 1.7 kilometers south
of the K6 target.
The K7 gravity anomaly, which sits adjacent to a strong magnetic
high is located approximately 130m
below surface and appears to be a cohesive target extending
vertically. Additional work will be required in this area to help
better define the full extents of the target. Outcrop exposure is
limited in the target area, however, IOCG characteristics of the
rock units, including potassic, calcic and sodic alteration are
observed in an altered porphyritic unit. One single line of deep
penetrating Induced Polarization/Resistivity (IP) surveying was
performed over the gravity target and showed an increase of
chargeability and resistivity in direct correlation with the
gravity response. A reconnaissance MMI (mobile metal ion) soil
sampling program was also performed in the area. A total of 15
samples were collected despite the lack of quality sites. The
results returned elevated copper near and around the K7 gravity and
IP anomaly. An image of the target area is illustrated at
http://www.zontemetals.com/projects/cross-hill-project/ .
Additional results including those from the Dunn's Mountain area will be released once data
processing and interpretation has been completed.
The Company is also pleased to announce drilling has commenced
at the K6 target. As noted in the October 8,
2019 press release, the program will test the strong gravity
response which sits just below and adjacent to the strong magnetic
anomaly. The K6 target exhibits typical IOGC related geophysical
signatures, IOCG related alteration and spatially related copper
mineralization at surface.
The Company would like to acknowledge the Province of
Newfoundland and Labrador for its financial support through the
junior exploration assistance program exploration for work
performed on the Cross Hills Property.
Qualified Person
Dean Fraser, P.Geo. is the qualified
person as defined by NI 43-101 and has reviewed and approved the
contents and technical disclosures in this press release.
Soil Sampling Protocol
QA/QC
MMI soil samples were collected in a careful and diligent manner
using scientifically established sampling practices designed and
tested to ensure that the results are representative and reliable.
Samples are tagged and sealed prior to being shipped by SGS
Laboratories, which is an independent and accredited full-service
commercial laboratory accredited to ISO/IEC 17025.
About Zonte
Zonte Metals Inc. is a junior explorer focused on gold and copper.
The Company owns 100% of the McConnells Jest project, in the
Tintina Gold Belt, in the Yukon
Territory and the drill ready Wings Point Gold Project in
Newfoundland. It also has an
option to acquire 100% of the Cross Hills IOCG project in
Newfoundland. In addition, the Company and partner have an
application over open areas sitting on top of the open pit outline
of the Gramalote Deposit in Colombia, which is held by AngloGold Ashanti
(NYSE:AU) and B2Gold (TSX:BTO, NYSE:BTG). The title issuance is
being contested by the state governing the application and the
Company has started legal action to protect its rights.
Forward-Looking Information
This news release contains forward-looking statements which include
statements regarding the Corporation's future plans, statements
regarding financial and business prospects and the Corporation's
future plans, objectives and financial outlooks. The Corporation
believes expectations reflected in this news release are
reasonable, but actual results may be affected by a variety of
variables and may be materially different from the results or
events predicted in the forward-looking statements. Readers are
therefore cautioned not to place undue reliance on these
forward-looking statements. In evaluating forward-looking
statements readers should consider risk factors which could cause
actual results or events to differ materially from those indicated
by such forward-looking statements. These forward-looking
statements are made as of the date hereof, and unless otherwise
required by applicable securities laws, the Corporation does not
intend nor does it undertake any obligation to update or revise any
forward-looking statements. 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 of accuracy of this release.
www.zontemetals.com
SOURCE Zonte Metals Inc.