Zephyr Provides Corporate Update
ZEPHYR PROVIDES CORPORATE UPDATE
Trading Symbol: TSX-V: ZFR OTC-ZPHYF
Shares Outstanding: 67,986,985
HALIFAX, NS
,
March 9
, 2022
/CNW/ - Zephyr Minerals Ltd. (TSXV: ZFR) ("
Zephyr
" or the
"
Company
") is pleased to update shareholders on the Company's
Zimbabwe
project development
activities. Over the past seven months Zephyr senior management has field investigated 12 potential
gold projects throughout
Zimbabwe
. Management has concentrated on projects with proven gold
potential as demonstrated through active, shallow, small scale mining operations or previous
exploration work, and based on property size, the ability to host a target potential of at least one
million ounces of gold. Based on these parameters, of the 12 properties evaluated, four high priority
gold properties are being aggressively pursued for acquisition/joint venture. Upon success in this
regard a news release will be issued.
Loren Komperdo
, President an CEO stated; "Our investigations to date confirm the merits of our
strategy to pursue gold opportunities in
Zimbabwe
. We remain firm in our view that success in
project generation in
Zimbabwe
will provide our shareholders with exposure to gold projects with
company transformative potential."
As stated in a press release on
December 21, 2021
the Company staked and registered two
Special Blocks totaling 201 hectares prospective for gold and base metals in the northeastern part
of the Umkondo Basin of
Zimbabwe
. The Special Blocks cover an area encompassing a postulated
two kilometer long shear zone which is interpreted from satellite imagery to be the eastern extension
of a gossanous gold bearing eluvium zone recently mined by local artisanal miners as evidenced by
numerous small pits.
Sutter has applications lodged with the Ministry of Mines and Mining Development (the "Ministry of
Mines") for two Exclusive Prospecting Orders ("EPO"), covering approximately 124,000 hectares of
gold prospective ground, one of which for 61,000 hectares is located in the Nyanga area surrounding
the Special Blocks. The second EPO application covers approximately 63,000 hectares in the Mount
Darwin West area. These applications continue to be in the Ministry of Mines review process. A
news release will be issued upon Zephyr receiving a decision from the Ministry of Mines on these
two EPO applications. It is expected that news on the Mount Darwin West application will be
received first as this application was the first one lodged and has progressed further along in the
review process.
Dawson Mine Permitting Update
Zephyr has addressed all questions by the Colorado Division of Reclamation Mining and Safety
("DRMS") to the mine permit application lodged by Zephyr on
June 30
, 2021 in an adequacy
response letter, dated
09 February 2022
. We are currently waiting for a response from DRMS. The
deadline for a decision date for DRMS to approve or deny the mining permit application has been
extended to
March 31, 2022
.
Additional Information
Mr.
Terence F. Coughlan
, P.Geo, an independent consultant to the Company, and a qualified person
as the term is defined under National Instrument 43-101, has reviewed and approved the scientific
and technical information in this news release. Mr. Coughlan has not visited the property.
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. has applied for a mining permit at its 100% owned high grade Dawson-Green
Mountain property in
Colorado, USA
. After expanding its land package to 1,385 hectares (3,574
acres) the Company now controls a 12.2 kilometer long Dawson-Green Mountain mineralized trend.
In addition to the Dawson-Green Mountain property, the Company has acquired two Special Blocks
in
Zimbabwe
and is assessing additional opportunities in
Zimbabwe
.
To be included in the Zephyr email database for Company updates please contact
.
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/March2022/09/c9891.html
%SEDAR: 00030509E
For further information:
Loren Komperdo, President & CEO or Will Felderhof, Executive Chairman,
T: 902 706-0222, [email protected]
CO: Zephyr Minerals Ltd.
CNW 09:10e 09-MAR-22