Zonte Metals discovers a new target and starts detailed ground gravity survey in preparation for the upcoming drill program
Zonte Metals discovers a new target and starts
detailed ground gravity survey in preparation
for the upcoming drill program
TSXV: ZON
HALIFAX
,
Aug. 6, 2019
/CNW/ - Zonte Metals is pleased to announce the discovery of a new IOCG
target, called K8, and the start of the detailed ground gravity survey at its Cross Hills Iron Oxide
Copper Gold.
The K8 target, which sits about 2km south of the K6 target, was discovered with high resolution
ground magnetics. The target is defined by moderate to strong magnetics and is about
1200m
by
600m
in area. 3D inversion processing of the magnetic data shows the strongest part of the
magnetic profile having significant depth up to
600m
. One surface rock grab sample collected from
the target area assayed 0.3% copper and 0.18 g/t gold. The Company cautions that grab samples
are selective by nature and the result may not be representative of mineralization in the target area.
Subsequent to that result, follow-up prospecting identified intermittent disseminated and stringer
chalcopyrite mineralization with surface copper mineralization traced for over
600m
strike length.
Ground magnetics between the K6 and K8 targets suggest one continuous system with the variable
magnetics wherein both magnetite and hematite, including specular hematite have been noted.
The Company is also pleased to note that a detailed ground gravity survey is well underway. The
survey will first cover the K6-K8 area followed by the Dunns Mountain target. The Dunns Mountain
target was drill tested in a small winter program this year, which resulted in the discovery of IOCG
mineralization. Drill hole CH-004 at Dunns Mountain intersected multiple intervals of IOCG
mineralization within a
70m
interval, including a high-grade
0.43m
interval assaying 14.0% Cu, 15.8
g/t Au and 352 g/t Ag (see
April 29, 2019
press release). Once the gravity survey is completed the
company will mobilize a drill to possibly test viable targets at K6 and K8, and follow up on the
discovery at Dunns Mountain.
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.
Rock and Protocol and Drill Sampling Protocol
QA/QC
Rock samples were collected in a careful and diligent manner using scientifically established
sampling practices designed and tested to ensure that the results are representative and reliable.
Samples are described, photographed, tagged and sealed prior to being shipped by Zonte
personnel to AGAT Laboratories Ltd. The sample was analyzed for the 201-070 package (44
element 4 acid leach, ICP-OES finish) and the 202-551 package for gold (a 50 gram Fire Assay Au
finish). AGAT is an independent, reputable and accredited full-service commercial laboratory
accredited to ISO/IEC 17025:2005.
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.
www.zontemetals.com
SOURCE
Zonte Metals Inc.
View original content:
http://www.newswire.ca/en/releases/archive/August2019/06/c1846.html
%SEDAR: 00029601E
For further information:
Terry Christopher, CEO and President, 902-405-3520,
CO: Zonte Metals Inc.
CNW 16:01e 06-AUG-19