TSXV: ZON
HALIFAX, NS, July 14, 2021 /CNW/ - Zonte Metals is pleased to
provide the following update on the Cross Hills Iron Oxide Copper
-Gold Project.
A new zone of surface copper mineralization has been discovered
at the K6 target during routine follow up of a soil geochemical
anomaly. A number of bedrock and float samples over a 35m wide zone returned copper values between
0.18% and 0.89% Cu with trace silver. Mineralization in the new
zone is characterized by chalcopyrite with pyrite and minor
bornite. The extent of the copper zone is unknown as it
strikes into vegetation covered areas. The Company
intends on completing an IP geophysical survey over the area to
better define this target prior to drilling. A recently
commissioned satellite imagery structural analysis of the Cross
Hills property shows this new discovery sits along a fault
structure. A map showing the K6 target with the newly discovered
copper zone can be found at
https://www.zontemetals.com/projects/cross-hills-copper-property
The K6 target, located about 12km south of Dunns Mountain, was
discovered in 2019 after completion of overlapping high-resolution
ground magnetic and gravity surveys. 3D modelling of this data
identified a large coincident anomaly that was drilled with two
holes in 2019. The two drill holes tested the strongest portions of
the near surface gravity and magnetic anomalies and returned
anomalous copper values over narrow intervals (see March 3, 2020 press release). The 2019 drill
holes sit greater than 200m to the
north of the new copper zone which is located on the southern
periphery of the geophysical anomalies.
At the Cross Hills property, the Company is continuing to follow
up on soil anomalies at a number of areas to further define areas
for IP surveys in anticipation of developing priority drill
targets. Currently, exploration efforts are focused on the K6, K9,
Big K and Nine Mile anomalies.
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.
Rock and Protocol and Drill Sampling Protocol
Rock samples were assayed at Eastern Analytical in Springdale, NL using the ICP-34 package (34
element 4 acid leach, ICP-OES finish) and the Fire Assay (30g) with
AA finish. Samples were collected, tagged and sealed and delivered
to the lab by Company personnel.
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, located in the Yukon
Territory, the Wings Point
project in the new Central Newfoundland Gold Belt, and the Cross
Hills IOCG project located in Newfoundland and Labrador. In Colombia; the company has a 25% carried
interest in Project X where historic drilling interested
significant gold mineralization and 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, as well as
statements regarding financial and business prospects and the
Corporation's future plans, objectives or economic performance and
financial outlooks. The Corporation believes that the 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 the
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.
SOURCE Zonte Metals Inc.