Zephyr Commences Drilling
Zephyr Commences Drilling
Trading Symbol: TSX-V: ZFR OTC-ZPHYF
Shares Outstanding: 65,068,960
HALIFAX, NS
,
Aug. 6, 2020
/CNW/ - Zephyr Minerals Ltd. ("
Zephyr
" or the "
Corporation
") (TSX-V:
ZFR) is pleased to announce that core drilling has commenced on its Broken Hill Type (BHT) silver-
lead-zinc target on the El Plomo section of its wholly own Dawson-Green Mountain Property in
Colorado
. The initial drill hole, EP-20-01 will test the core zone of the western magnetic anomaly
approximately
200 m
(650 ft) down-dip of historic drill hole DDH GC-9 (US Borax, 1981), which
intersected magnetic silver-lead-zinc mineralization at shallow depths (news release
April 16, 2020
).
DDH GC-9 had a total depth of
94.9 m
(311 ft). Significantly, electron microprobe analyses of this
historic core has shown that the silver is in the silver mineral argentotetrahedrite, a high silver
content variant of Freibergite. Freibergite is the main silver mineral at the Broken Hill and
Cannington
mines in
Australia
(news release
May 5, 2020
).
It is anticipated that drill hole EP-20-01 will be completed in 10-14 days. A news release of the
visual assessment of the drill core will be issued at that time.
Loren Komperdo
, President & CEO stated, "Clearly this is a particularly exciting time for Zephyr
shareholders. Discovery of a BHT deposit would be a transformative event for Zephyr."
Mapping and sampling has also commenced on the Green Mountain section (west of El Plomo)
which is highly prospective for Dawson type gold mineralization. Previous sampling by Zephyr has
demonstrated low sulphide high grade gold mineralization similar to that found in the Dawson section
in surface grab samples with up to 13.6 g/t (new release
July 25, 2018
).
From east to west, the large mineralized system stretches for 12.2 km (7.5 mi). The Dawson and
Green Mountain sections (gold) combined totals 9 km of mineralized trend and the central El Plomo
section (silver) 3.2 km (2 mi). The Dawson section is currently host to an inferred resource of
120,400 oz. gold (371,000 t grading 10.09 g/t at a 4 g/t cut-off and 40 g/t top-cut). A preliminary
economic assessment (PEA) conducted in 2017 to provide management with additional forward
planning information showed very robust economics at a
$1,250
oz. gold price (news release Feb.7,
2017). This deposit remains open at depth and numerous drill targets remain to be tested in both the
Dawson and Green Mountain sections, thereby providing Zephyr with excellent gold resource
expansion potential.
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. continues to advance its 100% owned high grade Dawson-Green Mountain
Project in
Colorado, USA
. After expanding it's land package to 1,385 hectares (3,430 acres) the
Company now controls a 12.2 km long
Dawson-Green Mountain
mineralized trend. The central 3.2
km long El Plomo section is the focus for potential Broken Hill Type silver-lead-zinc mineralization
and the east and west sections, Dawson and Green Mountain respectively are being targeted for
gold. The Dawson section is currently host to a high grade inferred gold resource. The Company
believes the combined Dawson and Green Mountain sections encompassing approximately 9 km of
mineralized trend provide excellent resource expansion potential.
To be included in the Zephyr email database for Company updates please contact
.
Mr.
Terence F. Coughlan
, P.Geo is the qualified person as defined by National Instrument 43-101
and has reviewed and is responsible for the technical information in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release. The forward-looking statements contained in this document are based on certain key
expectations and assumptions made by the Company, including, with respect to the use of funds
from the private placement, expectations and assumptions concerning timing of receipt of required
regulatory approvals and third party consents and the satisfaction of other conditions to the
completion of the exploration work on the Dawson-Green Mountain Property. The forward-looking
statements contained in this document are made as of the date hereof and the Company
undertakes no obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise, unless so required
by applicable securities laws.
SOURCE
Zephyr Minerals Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/August2020/06/c0221.html
%SEDAR: 00030509E
For further information:
Loren Komperdo, President & CEO or Will Felderhof, Executive Chairman,
Zephyr Minerals Ltd., T: 902 446-4189, F: 866 941-4715
CO: Zephyr Minerals Ltd.
CNW 09:45e 06-AUG-20