Zonte Metals discovers a large gravity anomaly at Dunns Mountain and a second at Big K
Zonte Metals discovers a large gravity
anomaly at Dunns Mountain and a second at
Big K
TSXV: ZON
HALIFAX
,
Nov. 21, 2019
/CNW/ - Zonte Metals is pleased to announce the discovery of two large
gravity anomalies and the commencement of drilling at the Dunns Mountain target on its Cross Hills
IOCG project.
Highlights:
1
.
Discovery of a large gravity high anomaly sitting under Dunns Mountain.
2
.
3D Inversion modelling indicates the target measures
750m
long,
400m
wide and up to
1000m
deep
3
.
Gravity anomaly extends under the magnetic anomaly and drill holes from Phase 1 did not test
the area.
4
.
The combined data sets show a series of distinct geological and geophysical signatures that will
be tested in the present Phase 2 drill program, which has commenced.
The ground gravity survey identified large anomalies at both Dunns Mountain and the Big K targets.
The Dunns Mountain 3D gravity anomaly appears structurally controlled and extends under the 3D
modelled magnetic high zone. This new gravity data compliments the other data sets from Dunns
Mountain including; high-resolution ground magnetics, Induced Polarization, mapping (structural,
alteration and geological), rock and soil sampling and five drill holes completed in Phase 1. Analysis
of the combined data shows a series of geological and geophysical signatures that will be tested in
the current Phase 2 drill program. It is noteworthy that drilling in Phase 1 focused on the 3D
magnetic model at Dunns and hence none of the holes tested the gravity anomaly.
During Phase 1 drilling, mineralization was intersected in a number of drill holes with the best single
intersection discovered in CH-19-004. This drill hole intersected a number of mineralized intervals
with a high-grade intersection returning 14.0% Cu, 15.8 g/t Au and 352 g/t Ag over
0.43m
. This drill
hole sits peripheral and above the gravity anomaly and it is postulated the mineralization intersected
might be sourced along structural zones from within the gravity anomaly. Subsequent to Phase 1
drilling, a deep penetrating IP line was completed in the area where mineralization was discovered in
CH-19-004. This survey identified a number of signatures that will be drill tested in Phase 2 drilling.
Drilling in this area will occur after freeze up. Drilling has commenced on the most western side of
the mountain and will then be followed up with a drill hole on the southern-most part of the 3D gravity
anomaly. An image illustrating the gravity anomaly in cross section can be found at:
http://www.zontemetals.com/projects/cross-hill-project/
A second large gravity was discovered within the northern surveyed area and sits approximately
1.2km south of Dunns Mountain. It is spatially associated with a large magnetic anomaly named the
Big K target, which was discovered in the Carols Hat area in 2018 along with two other magnetic
anomalies. The gravity survey did not cover the Carols Hat magnetic target during this program. The
gravity anomaly at the Big K target sits approximately 120 –
140 m
below the surface and appears
to be adjacent and inter-fingered with the magnetic anomaly. Outcrop in the area is limited
compared to Dunns Mountain, however, iron oxide alteration and IOCG geochemical signatures
were identified in 2018 sampling.
Terry Christopher
, president and CEO states "The gravity anomaly discovered at the Dunns
Mountain target is significant in size. The combined data sets, including magnetic, gravity and IP
anomalies, allows Zonte to target priority areas for copper, gold and silver mineralization with a
focus on structural breaks. The drill program at Dunns will systematically test these areas over the
next few months. The Company now has four significant target areas that will be tested including
Dunns Mountain, Big K, K6 and K7 targets.
The Company would like to acknowledge the Province of
Newfoundland
and
Labrador
for its financial
support through the junior exploration assistance program exploration for 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.
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, in the
Yukon Territory
and the drill ready Wings
Point Gold Project in
Newfoundland
. It also has an option to acquire 100% of the Cross Hills IOCG
project in Newfoundland. In addition, 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, statements regarding financial and business prospects and the
Corporation's future plans, objectives and financial outlooks. The Corporation believes 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 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/November2019/21/c2606.html
%SEDAR: 00029601E
For further information:
Terry Christopher, CEO and President, 902-405-3520,
[email protected], www.zontemetals.com
CO: Zonte Metals Inc.
CNW 16:00e 21-NOV-19