Zonte identifies nickel, cobalt and gold mineralization at its Wings Point project and provides an update on the Gramalote legal case
Zonte identifies nickel, cobalt and gold mineralization
at its Wings Point project and provides an update on
the Gramalote legal case
TSXV: ZON
HALIFAX, NS
,
Nov. 18, 2021
/CNW/ - Zonte Metals is pleased to provide the following update on the Wings Point
Gold Project located in the newly developing Central Gold Belt in
Newfoundland
and
Labrador
.
Multi-phase exploration including both rock and soil sampling programs was conducted within a historically
underexplored 200 claim block staked approximately one year ago. This exploration resulted in the discovery of three
areas of interest. These include nickel, chromium and cobalt in black shales, anomalous gold in quartz float samples
and identification of the possible source for a large iron oxide zone.
Particular results include a sampling program conducted within a rock quarry within the property which discovered
nickel, chromium and cobalt mineralization hosted in black shales. A single sample collected from a silica-carbonate
altered zone containing pyrrhotite in black shales and siltstones returned 0.23% Ni, 0.21% Cr and 103 ppm Co.
Several other samples collected in the vicinity returned anomalous nickel. Follow up sampling within the altered zone
was conducted and samples submitted for analysis with results pending. The altered zone appears restricted to one
wall of the quarry and strikes into a covered area. The Company will complete further prospecting and, depending on
results, geophysics, along the inferred strike of the zone to define the target more precisely.
Prospecting along a trail in the centre of the project discovered several float samples with anomalous gold values
including 226, 342 and 482 ppb from samples both with quartz with pyrite mineralization and several samples having
altered sediment matrix. Additional float of similar character was observed in the area at the time of sampling and
the area will be further prospected to vector in on a possible bedrock source.
A gossan with a length of over
200m
was prospected and sampled on multiple occasions. Examination of the gossan
suggested it was a chemical precipitate, not a sulphide derived gossan. The geometry and physical nature of the iron
oxide suggested it originates at the base of a small hill. To determine the source of the gossan several small test pits
were hand dug from the gossan to the top of the hill. These holes identified a water seep or recharge zone on the
lower portion of the hill. It was concluded that the gossan was formed by deposition of iron from recharging
groundwater whereby iron leached from the subsurface by groundwater is chemically deposited at the surface due to
changing redox conditions.
Samples taken from the iron oxide within the gossan returned +10% Iron (overlimits not completed) as well as 0.10%
Zn in a single sample. Elevated Zn was noted in several soil samples collected in the immediate vicinity of the iron
oxide zone. The extensive nature of the iron oxide suggests a large iron source and possibly a mineralized sulphide
target at depth. Additional prospecting and Induced Polarization surveys are being considered to help delineate any
such a sulphide target in the subsurface. Note the surface sampling results are from select grab samples and not
representative of the property as a whole. A map illustrating the new discoveries can be found at
https://www.zontemetals.com/projects/wings-point-gold-project
.
The Company is also pleased to announce an update on the Gramalote legal case in
Colombia
. The presiding judge
recently notified the parties that the case is closed for further submissions and the next step is the trial. The
Company will provide an update when the trial has been scheduled. For further information on the case, please see
the
Feb 4, 2021
press release here
https://www.zontemetals.com/press-releases/zonte-provides-update-on-gramalote-mineral-rights-application-colombia
.
Qualified Person
Donald Blake
, P.Geo. is the qualified person as defined by NI 43-101 and has reviewed and approved the contents
and technical disclosures in this press release.
Rock and Protocol and Drill Sampling Protocol
Rock and soil samples were assayed at Eastern Analytical in
Springdale, NL
using the ICP-34 package (34 element
4 acid leach, ICP-OES finish) and the Fire Assay (30g) with AA finish. Samples were collected, tagged and sealed
and delivered to the lab by Company personnel.
About Zonte
Zonte Metals Inc. is a junior explorer focused on gold and copper. The Company owns 100% of the McConnells Jest
project, in the Tintina Gold Belt, located in the
Yukon Territory
, the Wings Point Gold project in the new Central
Newfoundland Gold Belt, and the Cross Hills IOCG project located in
Newfoundland
and
Labrador
. In
Colombia
; the
company has a 25% carried interest in Project X where historic drilling intersected significant gold mineralization and
the Company with a 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.
View original content:
http://www.newswire.ca/en/releases/archive/November2021/18/c1783.html
%SEDAR: 00029601E
For further information:
Terry Christopher, CEO and President, 902-405-3520, [email protected],
www.zontemetals.com
CO: Zonte Metals Inc.
CNW 16:47e 18-NOV-21