Zonte Announces Discovery at the Two Four Target and Results from Late Summer Field Exploration Program at the McConnells Jest Project, Yukon Territory. TSXV – ZON
Zonte Announces Discovery at the Two Four Target and Results
from Late Summer Field Exploration Program at the
McConnells Jest Project, Yukon Territory.
TSXV – ZON
HALIFAX
,
Oct. 6, 2017
/CNW/ - Zonte Metals Inc. (TSXV: ZON) (the "Company" or "Zonte") is pleased to announce the Phase 1 drill results
as well as highlights from the late summer 2017 field exploration program at its McConnells Jest Project located in the
Yukon Territory
. Highlights
include:
Drilling on the Two Four Target which returned:
32.02m of 0.49 g/t Au in MJ-04 from 45.80m, with 20.44 m of 0.72 g/t Au from 61.37m;
29.60m of 0.53 g/t Au in MJ-04 from 112.90m, with 20.28m of 0.69 g/t Au from 122.22m;
Discovery of high-grade mineralization at the Tea Zone Target where a quartz-arsenopyrite vein returned 129 g/t Au; and
Discovery of the new J Zone Target where sampling of arsenopyrite veins returned values up to 5.35 g/t Au.
Phase 1 Drilling
A total of 1027 metres was drilled in five holes on three targets over a small area of the pluton with the majority of the approximately 3,371
hectare property remaining untested. Two holes were drilled on each of the Hill and Two Four Targets with a single hole completed at the Pink
Mountain Target. Highlights from the drill program confirmed mineralization at the Two Four Target as summarized in the table below. Both drill
holes were drilled from the same drill pad; MJ-03 was drilled at an azimuth of 335 degrees with a 65 degree dip and MJ-04 was drilled at an
azimuth of 285 degrees with a 45 degree dip. Results from MJ-03 returned anomalous gold values hosted in quartz-arsenopyrite (+/- pyrite) veins
over 100m of the drill core. Drill hole MJ-04, drilled from the same pad, was drilled to a depth of 148.13m towards the mapped edge of the
pluton and past any known surface mineralization to test a soil covered area. The drill hole stayed in the pluton over its length and intersected upper
and lower mineralized zones. A 20.45m interval in the upper mineralized zone returned 0.72 g/t Au, within a 62.43m mineralized interval. The
lower zone, at the bottom of the drill hole, from 112.90 to 142.50m returned 0.53 g/t Au, including a 20.28m interval with 0.69 g/t Au. This lower
zone showed an increase in veining and had a higher proportion of pyrite to arsenopyrite compared to the upper mineralized zone.
Drill Hole
From (m)
To (m)
Interval (m)
Gold (g/t)
MJ-03
10.71
19.04
8.33
0.20
107.49
214.27
106.78
0.18
including
107.49
189.30
81.81
0.20
MJ-04
19.39
81.82
62.43
0.27
including
45.80
81.82
32.02
0.49
including
61.37
81.82
20.45
0.72
112.90
142.50
29.60
0.53
122.22
142.50
20.28
0.69
134.49
142.50
8.01
1.13
Note: depths and thicknesses listed in the table and throughout the press release are core depths and the true thickness is not known at this time.
The surface projection of the mineralization intersected in the bottom portion of MJ-04 may extend the target to the west under soil cover. The drill
holes at the Two Four were collared on the southern portion of the zone and much of the target remains to be tested. Further exploration and
drilling is required to follow-up on these results. A map showing the drill hole locations is found on the company's webpage
www.zontemetals.com
.
Drill core from the Pink Mountain Target was different in character to the Two Four Target with reduced veining and more intense fracturing.
Results showed spotty anomalous gold values in several intervals. The single drill hole was at the western end of the target which covers an area
approximately 300m by 300m and further work is warranted on this target. Results from the Hill Target were generally low.
Late Summer 2017 Field Exploration
Field exploration was primarily focused on the
Pink Mountain
, Hill and Two Four Target areas for the majority of the summer. A one-day field trip
was completed to the Tea Zone where high-grade mineralization was discovered and limited exploration was carried out to the north of
Pink
Mountain
where the J Zone was discovered.
At the Tea Zone target, on the north-western side of the pluton, outcrop exposure was limited to a narrow valley where a number of veins were
identified at the southern end. One high-grade sample was collected from a quartz-arsenopyrite vein which ranged from 5 to 10cm in width and
assayed 129 g/t Au. Two other veins returned 0.92 g/t and 2.72 g/t Au in this area. Soil geochemistry exhibits a multi-element anomaly which
extends from the sampled veins to the west for 390m and having at least 200m dimension in a north-south orientation. No exploration was
completed in this area with the multi-element soil anomaly. Note the rock samples are grab samples, which are not necessarily representative of
mineralization hosted on the property.
The J Zone, formerly known as the Seven-Four target, was discovered this summer after following up on a historic rock sample. This target lies
about 1.3km north of
Pink Mountain
and is located within an area of the pluton with dense fracturing. The zone is characterized by fracture hosted
narrow arsenopyrite veins. Sampling of the arsenopyrite veins returned values from anomalous to 5.35 g/t Au. The mineralization which is exposed
in a cliff face appears to sit in a SW-NE structure that is 150m wide and over 500m long. Additional soil sampling and more detailed rock
sampling is required to delineate this target. A number of other samples returned gold values in the area between the J Zone and
Pink Mountain
targets, however, outcrop exposure was poor and this larger area warrants detailed exploration. Note the rock samples noted in the late summer
exploration results are grab samples, which are not necessarily representative of mineralization hosted on the property.
Much of the success in identifying targets was a result of following up on historic soil and rock sampling. A number of other targets from that
historic data set were identified and remain to be field checked. One of the largest and strongest is the 400m by 500m Big Quartz target where
multi-element soil geochemistry, including Au, As, Bi, Sb and W, illustrate a large target on the western side of the pluton.
A map of the McConnel Jest Property, illustrating the multiple targets identified to date, can be obtained on the Company's website at
www.zontemetals.com
.
Terry Christopher
, President and CEO of Zonte comments "During a short field program, the Company was able to identity and drill three targets.
The Phase 1 drill results confirm the presence of an Intrusion Related Gold System with the discovery at the Two Four Target. This discovery
along with the identification of a high-grade 129 g/t Au vein at the Tea Zone and the discovery of gold mineralization at the J Zone confirms a
widespread gold system at the McConnells Jest Project. The successes to date have occurred with limited exploration and the majority of the
pluton remains to be explored."
Qualified Person
Andy Randell
, P.Geo. is the qualified person as defined by NI 43-101 and is responsible for the preparation of the Technical Report and the
technical disclosures in this press release.
Rock and Protocol and Drill Sampling Protocol
See the
June 9, 2017
news release for details on the surface rock sampling protocol. All 2017 drill core samples were carried out in a careful and
diligent manner using scientifically established sampling practices designed and tested to ensure that the results are representative and reliable. All
drill core was logged and prepared for shipment on site and shipped to ALS in
Whitehorse
using a third-party contractor, under Zonte personnel
supervision. QA/QC included the systematic insertion of certified standards, blanks and field duplicates. Samples were described, photographed,
tagged and sealed prior to being aggregated into rice bags and submitted for analysis by ALS Global and analyzed for the ME-ICP41a package
(34 element ICP-AES) and AU-AA24 for gold (a 50 gram Fire Assay Au finish). ALS Global is an independent, reputable and accredited full-
service commercial laboratory accredited to ISO/IEC 17025:2005. ALS Global also provides its own internal QA/QC protocol of blanks,
duplicates and standards in each work order, which is supplied to the Zonte with the rock sample analysis.
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 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.
View original content: http://www.newswire.ca/en/releases/archive/October2017/06/c6022.html
%SEDAR: 00029601E
For further information:
Terry Christopher, CEO and President, 902-405-3520, [email protected], www.zontemetals.com
CO: Zonte Metals Inc.
CNW 10:24e 06-OCT-17