Zephyr Minerals announces initial drill results at Dawson
Zephyr Minerals announces initial drill results at Dawson
Trading Symbol: TSX-V: ZFR OTC:ZPHYF
Shares Outstanding: 46,332,620
HALIFAX, July 17, 2018 /CNW/ - Zephyr Minerals Ltd. ("Zephyr" or the "Company") (TSXV: ZFR) (OTC:
ZPHYF) wishes to report initial assay results for the diamond drill program on the Dawson Gold Project
("Dawson Project") in Colorado, USA. The Company has received assay results for the first four holes of
the drill program. Highlights include drill hole DA-18-14 with three significant gold intercepts. A 0.9 meter
intercept grading 5.3 g/t from 210.8 to 211.7 meters, a 1.8 meter intercept grading 5.2 g/t from 217.0 to
218.8 meters and a 0.9 meters intercept grading 9.2 g/t from 224.6 to 225.5 meters.
Three of the holes DA-18-12, DA-18-13 and DA-18-14 were drilled on the periphery of the current
resources in the Dawson Zone. Drill holes DA-18-12 and DA-18-13 were drilled in the extreme northeast
area with the objective of expanding the resources further in this direction and closer to the surface.
These holes were unsuccessful. Intercepting low grade gold values suggests the high grade gold
mineralization is deeper in this area. DA-18-14 was drilled in the extreme northwest part of the Dawson
Zone. The three higher grade gold intervals in this area suggests that the deposit is open to the west.
Follow up drilling is warranted in this area.
CK-18-08 was drilled in the Copper King Zone, approximately 200 meters west of the Dawson Zone and
down dip from two previous shallow holes that intercepted copper with low grade gold mineralization. The
anticipated higher grade gold mineralization was not present with assay results similar to the two historic
shallow holes. The Copper King Zone and the Dawson Zone are separated by a major northeast trending
fault structure with the relative movement between the two zones still to be determined. Further drilling is
warranted in the relatively unexplored central portion of the Copper King Zone.
Drilling is continuing on the Dawson Project with completion of this phase of the program anticipated in
early August. The current drill program is expected to total 15 drill holes totaling approximately 1,800
meters. Assays are expected throughout the summer and into early fall.
The objective of the current drill program is to expand the gold resources near the current resources in
the Dawson Zone as well as at the Windy Gulch Zone and Windy Point Zone. In addition, these drill holes
will continue to contribute to a better understanding of the geology of the deposit as well as the
mineralizing controls for the gold mineralization, which is expected to enhance drill hole targeting in the
next phase of drilling.
The next phase of drilling will also target the large Sentinel Zone located contiguous to and immediately
east of the Dawson Zone. The Sentinel Zone stretches for approximately 1,600 meters and is larger than
the Dawson, Copper King, Windy Gulch and Windy Point Zones combined. This area is considered
highly prospective, hosting a strong magnetic geophysical anomaly 1,100 meters in length with
characteristics that are virtually identical to that associated with the Dawson Zone. The Sentinel Zone
prospectivity is enhanced by the recent discovery of surface gossans with similar characteristics to those
at the Dawson Zone. The Sentinel Zone has never been drilled and has the potential to significantly
expand the gold resource of the project.
Loren Komperdo, President and CEO, stated "Notwithstanding that we were not successful in expanding
the uppermost, eastern margin of the Dawson Zone gold resource, the Dawson Zone remains open in the
east down dip from DA-18-12 and DA-18-13 as well as to the west and at depth. There is a lot of drilling
to be done on this large project and low grade holes are part of the mix when drilling and delineating
boundaries on gold zones. The Dawson Project has the size to visualize million ounce potential."
Zephyr Minerals Core Handling Protocols
Standard sampling procedures were followed whereby HQ core was sampled and cut using a diamond
saw. 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 2.2 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 Elko, Nevada for sample
preparation and gold analysis.
All samples were assayed using fire assay with 50 gram sample size and a ICP-AES finish.
References to resources pertain to the National Instrument 43-101 Technical Report for the Dawson
Property, Colorado, USA, and effective March 21, 2018, authored by Danny Tolmer, P.Eng., Golder
Associates Ltd., Brian Thomas, P.Geo., Golder Associates Ltd. Mark Graves, P.Geo., vice president of
exploration of the Company, Michael Cullen, P.Geo., Mercator Geological Services Limited, Matt Bolu,
P.Eng., BOMENCO Minerals Engineering & Consulting Inc. Doug Roy, P.Eng., MineTech International
Ltd., and Brett Byler, PE, AMEC Foster Wheeler.
Mr. Mark Graves, P.Geo. registered with the Association of Professional Geoscientists of Nova Scotia
(APGNS), and vice president of exploration of the Company, has reviewed and approved the scientific
and technical information in this news release.
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. continues to advance it's 100% owned high grade Dawson Gold Project 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.
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. More particularly, this press release contains
statements concerning the use of funds from a private placement.
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/July2018/17/c5237.html
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For further information: Loren Komperdo, President & CEO or Will Felderhof, Executive Chairman,
Zephyr Minerals Ltd.,T: 902 446-4189, F: 866 941-4715; To be included in the Zephyr email database
for Company updates please contact [email protected], or visit our website
www.zephyrminerals.com for more information.
CO: Zephyr Minerals Ltd.
CNW 10:30e 17-JUL-18