Zephyr Minerals Ltd. Makes Gossan Discoveries on New Sentinel East Zone,
Zephyr Minerals Ltd. Makes Gossan
Discoveries on New Sentinel East Zone,
Colorado, USA
Trading Symbol: TSX-V: ZFR OTC: ZPHYF
Shares Outstanding: 46,332,620
HALIFAX
,
June 13, 2018
/CNW/ - Zephyr Minerals Ltd. ("
Zephyr
" or the "
Corporation
") (TSXV:
ZFR) is pleased to report that initial reconnaissance work on the newly acquired Sentinel East Zone
has resulted in the discovery of two gossanous outcrops characteristic of the surface expression of
the quartz sulphide unit of the gold host rocks on the Dawson Property. The gossans are located
350 and 700 meters east of the Dawson Zone which is host to the current gold resource. The
gossan at 350 meters east assayed 276 ppb gold, 0.18% copper and 6 ppm silver which is typical
for grades of gossan in the Dawson Zone and as such points to the high gold prospectivity of this
new area. These gossans support the high potential for the gold bearing
Dawson Shear Zone
to
continue for the entire 1,600 meters east of the Dawson Zone. By comparison, the strike length of
the combined Dawson, Copper King, Windy Gulch and Windy Point Zones is 1,100 meters. See
photos on the Company's website at
www.zephyrminerals.com
.
The new Sentinel East Zone is currently the focus of an exploration program designed to generate
drill targets for a planned Phase 2 drill program in Q4 2018 or Q1, 2019. The program includes
geological mapping, sampling and a magnetic geophysical survey to continue east from the previous
Zephyr magnetic survey which ended just east of the Dawson Zone. Previous magnetic surveys
demonstrated excellent correlation between strong magnetic low anomalies and the gold host rocks.
A historic magnetic survey has a strong magnetic low anomaly continuing approximately 300 meters
east of the Dawson Zone. Zephyr's goal is to extend that magnetic low anomaly further east and use
the data along with the geological mapping to plan a drilling program.
The current Phase 1 drill program is focused on building gold resources on the Dawson, Copper
King, Windy Gulch and Windy Point Zones and is expected to continue through July with initial assay
results becoming available in mid July (see news release
18 April, 2018
).
Loren Komperdo
, President & CEO stated, "The discovery of these gossans on the new Sentinel
East Zone is an exciting development, significantly increasing the gold resource expansion potential
on the Dawson Property. This new area has never been explored by modern day explorers, with the
last work appearing to date to circa 1900 as evidenced by an old shaft near the 700 meter east
gossan. Given the 4.3 km length of the Dawson Property, the 2 km depth potential and the 3.5 – 4
meter average widths of the current gold resource, there is ample room to visualize a potential
million ounce resource."
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.
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.
To be included in the Zephyr email database for Company updates please contact
, or visit our website
www.zephyrminerals.com
for more information.
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/June2018/13/c8419.html
%SEDAR: 00030509E
For further information:
Loren Komperdo, President & CEO or Sean Tufford, VP, Corporate
Development, Zephyr Minerals Ltd., T: 902 446-4189, F: 866 941-4715
CO: Zephyr Minerals Ltd.
CNW 09:15e 13-JUN-18