Zephyr Pursues Gold Mine Permit
Zephyr Pursues Gold Mine Permit
Trading Symbol: TSX-V: ZFR OTC-ZPHYF
Shares Outstanding: 66,603,485
HALIFAX, NS
,
Oct. 28, 2020
/CNW/ - Zephyr Minerals Ltd. (TSXV: ZFR) (OTC: ZPHYF) ("
Zephyr
"
or the "
Company
") is pleased to announce that its current activities and principal go forward focus
will be on obtaining a mining permit for the proposed underground mine for the
Dawson
gold deposit
on the
Dawson
section of the
Dawson
-Green Mountain property. Plans for the El Plomo BHT silver-
lead-zinc target will be announced later in Q4-2020, once assays are in hand for the drill hole
completed in August, 2020.
It is management's view that the highly attractive current and forecast gold prices combined with the
excellent gold grades at
Dawson
and straightforward permitting process, warrant taking action on
this unique opportunity. Moving now to obtain a mining permit is the best way to enhance
shareholder value at this juncture.
Zephyr is in an advantageous position to obtain a mining permit due to the fact proposed operations
will be restricted to lands and patented lode mining claims owned/controlled by the Company. As
such, the permitting process requires satisfying the conditions of the
Fremont County
Board of
Commissioners and the
State of Colorado
exclusively, and is a defined process. Provided Zephyr
satisfies the regulatory requirements in its mining application, this permitting process generally takes
from 12 – 15 months.
Loren Komperdo
, President and CEO stated "Obtaining a mining permit in this high gold price
environment would put Zephyr in a very favourable position to develop this high grade gold deposit."
Considerable progress has already been made with respect to completing the mining permit
application with most geological and engineering data in hand, and current work centered on a
tailings characterization study. It is anticipated Zephyr will be in a position to file the mining
application in the first half of 2021.
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. continues to advance its 100% owned high grade
Dawson
-Green Mountain
property in
Colorado, USA
. After expanding it's land package to 1,385 hectares (3,430 acres) the
Company now controls a 12.2 km long
Dawson
-Green Mountain mineralized trend. The
Dawson
section is currently host to a high grade inferred gold resource*. The Company believes the
combined
Dawson
and Green Mountain sections encompassing approximately 9 km of mineralized
trend provide excellent resource expansion potential.
To be included in the Zephyr email database for Company updates please contact
.
* Details of the inferred resource can be found in the report titled Resource Estimate Technical
Report for the Dawson Property
Fremont County, Colorado
, USA, dated
September 6, 2013
, (the
"Report") and was prepared for Zephyr by
Andrew Hilchey
, P.Geo., Mercator Geological Services
Limited,
Isobel Wolfson
, M.Sc., P.Geo, and
Mark Graves
, P.Geo.. The Report is available at
sedar.com.
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/October2020/28/c3543.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 09:20e 28-OCT-20