Zephyr reports historic drill results from gold- copper zone at Dawson; includes 4.66 m of 3.07% copper and 3.03 g/t gold
Zephyr reports historic drill results from gold-
copper zone at Dawson; includes 4.66 m of
3.07% copper and 3.03 g/t gold
HALIFAX
,
Nov. 13, 2018
/CNW/ - Zephyr Minerals Ltd. ("Zephyr" or the "Company") (TSXV: ZFR)
and (OTC: ZPHYF) is pleased to announce the results of an evaluation of historic diamond drill
results on a previously unreported gold-copper zone at its Dawson Gold Property in
Colorado,
U.S.A.
The gold-copper zone is predominantly located between 2 and15 meters stratigraphically
above, and parallel to the gold zone hosting the gold resources at
Dawson
. Highlights include drill
holes: GC-12 with
4.66 m
grading 8.17 g/t Au Eq.* (3.07% Cu, 3.03 g/t Au); GC-15 with
7.47 m
grading 4.55 g/t Au Eq.* (1.61% Cu, 1.86 g/t Au); and GC-20 with
3.05 m
grading 6.0 g/t Au Eq.*
(2.65% Cu, 1.78 g/t Au). Widths of 26 drill intercepts grading 3.5 g/t or better Au Eq. range
between
1.52 m
and
7.47m
, and average
3.15 m
. All pertinent copper-gold intercepts in the Dawson
Segment gold-copper zone are presented in the table below.
Dawson Segment –Gold-Copper Zone
DDH#
From
m
To
m
Interval
Cu
%
Au
g/t
Au Eq*
g/t
ft
m
GC-4
83.48
85.0
5.0
1.52
1.67
0.50
3.30
GC-5
101.68
108.54
22.5
6.86
1.28
1.56
3.72
including
101.68
105.19
11.5
3.51
1.94
0.95
4.24
GC-11
128.05
131.10
10.0
3.05
0.18
2.75
3.36
and
150.90
152.42
5.0
1.52
1.79
1.85
4.74
and
156.04
160.43
14.4
4.39
0.17
2.77
3.08
GC-12
128.66
133.32
15.3
4.66
3.07
3.03
8.17
GC-13
173.38
177.80
14.5
4.42
1.56
1.22
3.85
GC-14
145.12
149.45
14.2
4.33
0.24
2.95
3.41
and
150.73
155.85
16.8
5.12
0.94
2.06
3.70
GC-15
117.99
125.46
24.5
7.47
1.61
1.86
4.55
GC-16
128.20
134.15
19.5
5.95
0.45
1.84
2.57
and
159.60
162.65
10.0
3.05
0.08
3.40
3.55
GC-18
148.17
150.12
6.4
1.95
1.90
1.55
4.98
and
154.57
157.47
9.5
2.90
1.13
2.43
4.35
GC-20
185.06
188.11
10.0
3.05
2.65
1.78
6.00
and
195.73
201.22
18.0
5.49
1.11
1.68
3.58
and
207.32
208.84
5.0
1.52
0.85
2.50
3.99
GC-21
141.47
144.82
11.0
3.35
1.64
1.23
3.92
and
146.34
149.39
10.0
3.05
1.36
1.10
3.30
GC-23
173.91
184.46
17.6
10.85
0.99
1.15
2.85
including
173.91
179.27
17.6
5.36
1.02
1.71
3.53
GC-24
185.06
188.11
10.0
3.05
0.49
3.25
4.34
GC-25
275.0
276.52
5.0
1.52
1.83
0.95
3.87
GC-29B
213.41
214.93
5.0
1.52
1.05
2.05
3.84
and
222.56
224.08
5.0
1.52
0.11
3.10
3.29
GC-32
283.84
287.50
12.0
3.66
2.08
0.41
3.82
GC-42
211.74
213.45
5.6
1.71
1.43
1.04
3.33
GC-46
255.18
257.80
5.3
1.62
1.23
0.70
2.76
GC-48
81.87
84.00
6.0
1.83
1.28
1.44
3.70
GC-49
307.68
309.45
5.8
1.77
1.01
0.25
1.88
GC-51
364.94
366.46
5.0
1.52
3.30
2.19
7.52
including
365.88
366.46
1.9
0.58
8.10
5.60
18.67
GC-67A
214.02
215.40
4.5
1.37
1.37
0.43
2.62
GC-68
162.65
164.17
5.0
1.52
1.66
0.85
3.41
and
169.51
171.03
5.0
1.52
2.05
1.00
4.90
GC-69
152.41
156.98
15.0
4.57
1.39
0.60
2.74
GC-93
112.25
115.21
9.7
2.96
0.69
0.54
1.63
including
112.25
113.44
4.9
1.49
1.36
0.75
2.88
GC-94
151.83
153.35
5.0
1.52
1.75
2.62
5.32
GC-95
50.30
52.59
7.5
2.29
0.77
0.82
2.12
GC-98
159.00
163.88
16.0
4.88
0.87
0.89
2.31
including
162.36
163.88
5.0
1.52
1.73
0.88
3.66
and
175.46
178.35
9.5
2.90
0.67
2.18
3.21
1)
This information is historic in nature and is based on drilling results reported by US Borax Ltd. and Jascan Resources Inc.
2)
The company believes this information is reliable and relevant as it was completed by reputable companies that use industry standard drilling and sampling practices.
3)
The company or its qualified person has not done sufficient work to verify this information.
Silver and zinc assays range between 1.75 g/t to 36.7 g/t and weight average 7.79 g/t, and 0 to
0.57% and 0.16% respectively for all intercepts in drill holes GC-4 to GC-51. Silver and zinc assays
are incomplete in drill holes GC-67A to GC-98. Silver and zinc assays are included in the gold
equivalent calculate where assays are available. True thicknesses of the drill intercepts are
estimated at 80 to 90% of drilled widths.
The above drill results were generated in drilling campaigns completed on the
Dawson
property by
U.S. Borax Ltd. ("U.S. Borax") and Jascan Resources Inc. ("Jascan") in the period 1980-1988. The
primary focus of U.S. Borax on the
Dawson
property in the 1978-1980 period was base metals,
however this changed with the discovery of the gold zone in drill hole GC-5 which assayed 15.27 g/t
gold over
7.32 m
from
108.54 m
to
115.86 m
, including 30.74 g/t gold over
2.99 m
from
109.82 m
to
112.81 m
. At this location the gold and gold-copper zones impinge on each other to form one large
mineralized zone of
14.18 m
from
101.68 m
to
115.86 m
. The gold-copper zone is thickest in the
eastern portion of the Dawson Segment.
Historical data research shows that a number of the Jascan drill holes in the 1987-1988 period were
not assayed for base metals and silver. None of the Zephyr drill holes from the 2013, 2016 and 2018
campaigns were assayed for base metals and silver. All relevant drill holes, both historic and recent,
will be re-examined and assayed for base metals and silver in the next program at
Dawson
.
Loren Komperdo
, President & CEO stated, "We are intrigued by the possibility of the gold-copper
being accretive to our efforts at
Dawson
. This also has synergies with our recently acquired Green
Mountain Property where historic drilling by
Phelps Dodge
in 1982 has yielded very interesting
results including drill hole GM-2B which assayed 18% copper, 4.3% zinc and 181 g/t silver over
1.31
m
at
123.47 m
to
124.78 m
. We believe the Green Mountain Property is on the same structural
corridor as the
Dawson
property, a distance of approximately 9 km."
* Au Equivalent based on the following US$ values for insitue grades:
Au -
$40.00
/g (
$1,244
/oz.)
Ag -
$0.50
/g (
$15.55
/oz.)
Cu -
$2.80
/lb.
Zn -
$1.21
/lb.
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. continues to advance it's 100% owned high grade Dawson Gold Project and
Green Mountain Property 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.
To be included in the Zephyr email database for Company updates please contact
, or visit our website
www.zephyrminerals.com
for more information.
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.
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/November2018/13/c8966.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 13-NOV-18