Zephyr Minerals Provides Exploration Update
Zephyr Minerals Provides Exploration Update
Trading Symbol: TSX-V: ZFR OTC: ZPHYF
Shares Outstanding: 63,090,977
HALIFAX
,
April 16, 2020
/CNW/ - Zephyr Minerals Ltd. ("
Zephyr
" or the "
Company
") (TSXV: ZFR)
(OTC: ZPHYF), is pleased to report the Company remains on track to drill test its high potential
Broken Hill Type ("BHT") silver-lead-zinc target in
Colorado
in July. The initial target will be the large
western magnetic anomaly in the central, El Plomo section of the property which stretches for
approximately 3.2 km within an east-west trending 12.2 km long mineralized trend. The western
magnetic anomaly sits directly beneath two shallow historical drill holes, GC-8 and GC-9. Drill hole
GC-9 intersected
8.2 m
grading 5.3% Zn from
55.6 m
to
63.8 m
, including
2.5 m
grading 10.2% Zn
from
61.3 m
to
63.8 m
*. A deeper section in GC-9 intersected
0.65 m
grading 179.0 g/t Ag, 1.2 g/t
Au and 2.6% Pb from
85.82 m
to
86.47 m
*. The high grade zinc and silver-lead mineralization in
these intervals are magnetic due to the presence of pyrrhotite and magnetite. Surface and drill hole
data from GC-8 and GC-9 indicate the dip of the mineralized trend near surface is 60 degrees to the
south. Interpretation of the 3D inversion magnetic data indicates the structure changes dip from 60
degrees south near surface to 85 degrees north at depth, a change of 35 degrees. This suggests a
structural fold which could potentially host thick intervals of silver-lead-zinc mineralization. This
interpretation is supported by the structure of the gold mineralization in the eastern Dawson section
where a low amplitude fold (dip change of 15 – 20 degrees), hosts a gold mineralized zone which
thickens from
1 m
at the edges of the fold to a maximum of
15 m
in the center or fold hinge zone.
The magnetic trend being tested on El Plomo stretches for approximately 2.5 km along the 3.2 km
mineralized trend. This 3.2 km trend boasts 31 surface prospects, and two additional discrete
magnetic drill targets, the central and eastern anomalies. Drilling success on the western anomaly
would immediately upgrade these 2 drill targets to very high priority.
At this time we see no reason for any delays on the planned July commencement for the drill
program however, the current covid-19 pandemic could be an issue if this continues past the
summer. The Company will advise shareholders of any possible delays if and when they come to
light.
The Company is also planning to undertake a limited prospecting, mapping and sampling program on
the Green Mountain section immediately west of El Plomo where a 4.8 km long mineralized trend
shows high potential for Dawson type gold mineralization. Reconnaissance prospecting in 2018
revealed a dump sample from a historical copper mine similar to
Dawson
gold host rocks grading
13.6 g/t gold.
The principal gold zone at the
Dawson
section hosts an inferred resource (4 g/t Au cut-off) of
423,000 t grading 10.7 g/t gold (capped at 40g/t Au) containing 120,400 ounces gold capped, or
137,500 ounces uncapped at a grade of 11.42 g/t gold**. True widths average between 3.5 -
4 m
with a maximum width of
15 m
**. The Green Mountain and
Dawson
sections feature a significant
number of high potential drill targets and a combined mineralized trend of approximately 9 km which
leads management to believe the property has million ounce gold potential.
Loren Komperdo
, President & CEO stated "This coming drill season will be an exciting time for
Zephyr, as success in drilling the western magnetic anomaly could prove to be very rewarding for
our shareholders."
Please visit
www.zephyrminerals.com/media
for further information presented in video.
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. continues to advance its 100% owned high grade Dawson-Green Mountain
Project in
Colorado, USA
. After expanding is land package to 1,385 hectares (3,430 acres) the
Company plans to explore the entire 12.2 km (7.5 mi) mineralized trend using the Broken Hill Type
deposit as an exploration model.
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.
* This information is historic in nature and is based on drilling results reported by US Borax Ltd. The
Company believes this information is reliable and relevant as it was completed by reputable
companies that use industry standard drilling and sampling practices. The Company or its Qualified
Person has not done sufficient work to verify this information.
** Reference: National Instrument 43-101Technical Report for the Dawson Property,
Colorado,
USA
;
March 21, 2017
;
Michael Cullen
, P.Geo.
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 the 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-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/April2020/16/c7848.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 16-APR-20