Colombia Special Court Accepts Zonte's Case Regarding Its' Gramalote Application
Colombia Special Court Accepts Zonte's Case Regarding Its' Gramalote Application
TSXV: ZON
HALIFAX
, Feb. 21, 2017 /CNW/ - Zonte Metals Inc. is pleased to provide an update on the Consejo de Estado ("Special Court") proceedings regarding its'
application over the Gramalote application.
As announced in
May 2016
, Zonte and a Colombian partner, (collectively "Zonte" or the "Company") initiated legal action against the Secretaria de Minas
(Secretary of Mines) for the Department of Antioquia,
Colombia
, as well the Agencia Nacional de Mineria (National Mining Agency) for not complying with the
Mining Code in titling an exploration application submitted by Zonte in
July 2013
. Zonte's application covers open areas between titles on top of the permitted
Gramalote Gold deposit which is a joint venture between AngloGold Ashanti (NYSE: AU) and B2Gold (TSX: BTO, NYSE: BTG).
The Special Court had three options available to respond to the Company's submission of documents which included accepting the case as presented; accepting
the case with modification; or rejecting the case totally. The Company is pleased to report that the Special Court has accepted the case as presented and that
the case will now officially proceed through the court process. The Company will provide additional information as it becomes available.
For more information regarding the Gramalote application including a map illustrating the open areas between titles and the legal initiatives – please visit the
company's webpage at
www.zontemetals.com
About Zonte
Zonte Metals Inc. is a junior explorer focused on gold and copper. The Company has signed an Option Agreement to acquire 100% of the McConnells Jest
project, in the Tintina Gold Belt, located in the
Yukon Territory
, which is composed of 172 claims totaling approximately 3371 hectares, and holds the drill ready
Wings Point Gold Project located in
Newfoundland
and
Labrador
. In addition, the Company and a Colombian partner have an application over open areas sitting on
top of the open pit outline of the Gramalote Deposit in
Colombia
, which is held by AngloGold Ashanti (NYSE: AU) and B2Gold (TSX: BTO, NYSE: BTG). The title
issuance is being contested by the state governing the application and the Company has started legal action to protect its rights.
Forward-Looking Information
This news release contains forward-looking statements which include statements regarding the Corporation's future plans, as well as statements regarding
financial and business prospects and the Corporation's future plans, objectives or economic performance and financial outlooks. The Corporation believes that the
expectations reflected in this news release are reasonable but actual results may be affected by a variety of variables and may be materially different from the
results or events predicted in the forward-looking statements. Readers are therefore cautioned not to place undue reliance on these forward-looking statements.
In evaluating forward-looking statements readers should consider the risk factors which could cause actual results or events to differ materially from those
indicated by such forward-looking statements. These forward-looking statements are made as of the date hereof, and unless otherwise required by applicable
securities laws, the Corporation does not intend nor does it undertake any obligation to update or revise any forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy of accuracy of this release.
SOURCE
Zonte Metals Inc.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2017/21/c5059.html
%SEDAR: 00029601E
For further information:
Terry Christopher, CEO and President, 902-405-3520, [email protected], www.zontemetals.com
CO: Zonte Metals Inc.
CNW 08:49e 21-FEB-17