Zonte identifies the largest magnetic anomaly to date on the Cross Hills IOCG Property.
Zonte identifies the largest magnetic anomaly
to date on the Cross Hills IOCG Property.
TSXV: ZON
HALIFAX, NS
,
Jan. 22, 2021
/CNW/ - Zonte Metals is pleased to provide the following an update on
discovery of a large magnetic airborne anomaly.
During the fall of 2020 the Company contracted a high-resolution magnetic airborne survey over
three areas on its Cross Hills Property. The areas covered in the survey were generally where no
exploration has been conducted, and included a northern, central and southern block, spanning
nearly 25km along strike. The survey was flown on a
100m
line spacing.
The survey over the central block, which lies between the Big K and K6 targets, discovered a 4 by
2.5km magnetic anomaly, named Nine Mile. The anomaly sits at the juncture of the deep seated
Cross Hills Fault and a second truncating fault. Field checking of the anomaly discovered
disseminated chalcopyrite in a number of locations, most notably along anomaly periphery. The
central portion of the anomaly is composed of intermingled albitites and iron oxide altered units,
while the periphery is mainly iron oxide altered units.
The Company completed a widely spaced MMI soil survey (
300m
spaced lines with 100m sample
spacing) over the new target to identify areas of anomalous copper, as portions of the anomaly are
covered. The soil sampling program was successful in identifying a number of anomalies which
require further infill sampling. A map illustrating the Nine Mile anomaly with known areas of sulphide
mineralization can be found at
http://zontemetals.com/projects/cross-hill-project/
All anomalies identified to date on the Cross Hills IOCG property are spatially associated with the
Cross Hills Fault system. The property covers a 25km strike length of the fault system along which
IOCG signatures are known. To date, seven targets have been identified and the Company is
waiting on additional data from other anomalies. A number of anomalies remain to be field checked.
The Company acknowledges the Province of
Newfoundland
and
Labrador
for its financial support
through the junior exploration assistance program for exploration work performed on the Cross Hills
Property.
Qualified Person
Dean Fraser
, 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
MMI soil samples were collected in a careful and diligent manner. Samples are tagged and sealed
prior to being shipped by SGS Laboratories, which is an independent and accredited full-service
commercial laboratory accredited to ISO/IEC 17025.
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
project in the new Central Newfoundland Gold Belt, and has an option to earn 100% in the Cross
Hills IOCG project located in
Newfoundland
. In
Colombia
the company has a 25% carried interest in
Project X where historic drilling interested significant gold mineralization; and the Company and
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/January2021/22/c2415.html
%SEDAR: 00029601E
For further information:
Terry Christopher, CEO and President, 902-405-3520,
[email protected], www.zontemetals.com
CO: Zonte Metals Inc.
CNW 08:29e 22-JAN-21