Zephyr Drills 4.8 G/t Gold Over 6.6 M at Dawson
Zephyr Drills 4.8 G/t Gold Over 6.6 M at
Dawson
Trading Symbol: TSX-V: ZFR OTC:ZPHYF
Shares Outstanding: 47,332,620
HALIFAX
,
Nov. 8, 2018
/CNW/ - Zephyr Minerals Ltd. ("
Zephyr
" or the "
Corporation
") (TSXV:
ZFR) (OTC: ZPHYF) is pleased to report assay results for diamond drill hole WG-18-40 drilled on
the Windy Gulch Segment of the Dawson Gold Project ("Dawson") in
Colorado, USA
. Highlights
include 4.8 g/t of gold intersected over
6.6 m
(21.6 feet).
Drill Hole ID
From (m)
To (m)
Intercept
Gold (g/t)
(Fire Assay)
WG-18-40
42.5
49.1
6.6
4.8
including
44.5
47.2
2.7
9.7
* Estimated true width of intercepts is 50%
This is the final drill hole in the current drill program and was drilled to extend the high grade gold
mineralization on the east side of the Windy Gulch Segment. Follow up drilling is warranted to test
further continuity of gold mineralization at depth of WG-18-40. WG-18-40 has been analyzed by fire
assay only and additional screen metallic assays are pending for samples exceeding 2 g/t gold. If
there are significant differences in the screen metallic assays, results will be reported in a
subsequent press release. Typically, the more comprehensive screen metallic assays at
Dawson
can be 5 to 10% greater than standard fire assays.
Drill Hole ID
Easting*
Northing*
Azimuth
Dip
Elevation
(m)
Hole
Depth (m)
WG-18-40
3055930.6
1202891.7
340
°
-83
°
2,196.6
73.1
* Note: Easting and Northing in UTM NAD 83 Colorado State Plane in feet.
Loren Komperdo
, President & CEO stated: "Overall, the 2018 drill program was successful despite
disappointments in a few of the drill holes, such as WG-18-37 on the Windy Gulch Segment which
indicated the presence of a granitic dike crossing through the gold mineralization in this area, and
DA-18-12 and DA-18-13 on the Dawson Segment which closed off the gold mineralization on the
east boundary of the current resource albeit only at a shallow depth. These results were offset by
positive results in the western area of the Dawson Segment where drill holes DA-18-15 and DA-18-
16 intercepted
2.7 m
of 8.7g/t gold and
3.4 m
of 17.6 g/t respectively (See news releases
September 10
and
October 23, 2018
)."
The phase two drill program is in the planning stage for Q1-2019 and it is anticipated, subject to
funding, to significantly expand the drilling effort with targets slated for drilling on (from east to west),
the Sentinel,
Dawson
, Windy Gulch and Windy Point Segments. The Sentinel Segment is considered
highly prospective over a strike length of at least
1,000 m
and has never been drilled. Gold
mineralized intercepts on the Sentinel Segment have the potential to be transformative for the
Dawson Project given the size of this new area. On the Dawson Segment, the potential for resource
expansion is at depth, requiring drill holes in the order of 250 –
400 m
. Future drilling on the Windy
Gulch Segment will focus on the areas adjacent to diamond drill holes ("DDH") WG-18-37 and WG-
18-40 where there is high potential for positive results. Drill holes originally planned for the 2018
program at the Windy Point Segment will follow up on very favourable results from a reconnaissance
drill program by Uranerz
USA
Ltd, in 1990. Notable results included DDH DWP-9002 and DWP-9003
which intercepted
6.1 m
of 9.0 g/t gold and
6.1 m
of 15.0 g/t gold respectively (See news release
June 15, 2017
).
Excluding the Copper King Segment, which is considered a low priority target at this time, the phase
two drill program will be targeting drill holes over an overall strike length of approximately
1,800 m
of
favorable structure. Given the scope of the planned drill program, 2019 could be an important year
for resource growth on the Dawson Project.
The 2018 field season will wind up with the completion of a soil geochemistry program on the
Sentinel Segment in late November designed to assist in identifying additional drill targets in this area
for the phase two program.
Zephyr Minerals Core Handling Protocols
Standard sampling procedures were followed whereby HQ core was cut using a diamond saw and
sampled. One-quarter of the core was placed in plastic sample bags and three quarters were left in
the core box for reference. The sample weight delivered to the laboratory varied from 1.0 to 2.1 kg.
Analytical standards, duplicates, and blanks were inserted at approximately every ten sample
intervals. The core samples were shipped by Fedex Ltd.,
Canon City, Colorado
to ALS Global in
Reno
and
Elko, Nevada
for sample preparation and gold analysis. All samples were assayed using
fire assay with Screen Fire Assay Method (Screen Metallics Gold, Double Minus) for all samples
over 2 ppm.
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. continues to advance it's 100% owned high grade Dawson Gold Project and
Green Mountain Property in
Colorado, USA
. After completing a positive PEA, Zephyr is continuing
with permitting and additional engineering, with a near term focus on exploration and resource
expansion.
To be included in the Zephyr email database for Company updates please contact
, or visit our website
www.zephyrminerals.com
for more information.
Mr.
Mark Graves
, P.Geo. registered with the Association of Professional Geoscientists of
Nova
Scotia
(APGNS), has prepared the scientific and technical information in this news release.
CAUTIONARY STATEMENT:
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. This press release contains forward-looking statements.
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 Gold 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/November2018/08/c3464.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 08:30e 08-NOV-18