Zonte Metals discovers a second gravity anomaly and commences drilling at the Cross Hills IOCG project.
Zonte Metals discovers a second gravity
anomaly and commences drilling at the Cross
Hills IOCG project.
TSXV: ZON
HALIFAX
,
Oct. 29, 2019
/CNW/ - Zonte Metals is pleased to announce the discovery of a second
large gravity anomaly and commences drilling at the K6 target on its Cross Hills IOCG project.
The recently completed gravity survey was carried out over two separate areas; a southern block
covering the K6 and K8 areas and a northern block covering the high priority Dunns Mountain target -
Carols Hat area. As press released on
October 8
, the Company announced the discovery of the K6
gravity anomaly. Additional processing and 3D inversion modelling of the data has identified a
second anomaly on the southern block called the K7 target, sitting 1.7 kilometers south of the K6
target.
The K7 gravity anomaly, which sits adjacent to a strong magnetic high is located approximately
130m
below surface and appears to be a cohesive target extending vertically. Additional work will be
required in this area to help better define the full extents of the target. Outcrop exposure is limited in
the target area, however, IOCG characteristics of the rock units, including potassic, calcic and sodic
alteration are observed in an altered porphyritic unit. One single line of deep penetrating Induced
Polarization/Resistivity (IP) surveying was performed over the gravity target and showed an increase
of chargeability and resistivity in direct correlation with the gravity response. A reconnaissance MMI
(mobile metal ion) soil sampling program was also performed in the area. A total of 15 samples
were collected despite the lack of quality sites. The results returned elevated copper near and
around the K7 gravity and IP anomaly. An image of the target area is illustrated at
http://www.zontemetals.com/projects/cross-hill-project/
. Additional results including those from the
Dunn's
Mountain
area will be released once data processing and interpretation has been completed.
The Company is also pleased to announce drilling has commenced at the K6 target. As noted in the
October 8, 2019
press release, the program will test the strong gravity response which sits just
below and adjacent to the strong magnetic anomaly. The K6 target exhibits typical IOGC related
geophysical signatures, IOCG related alteration and spatially related copper mineralization at
surface.
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.
Soil Sampling Protocol
QA/QC
MMI soil 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 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, 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/October2019/29/c5227.html
%SEDAR: 00029601E
For further information:
Terry Christopher, CEO and President, 902-405-3520,
CO: Zonte Metals Inc.
CNW 16:00e 29-OCT-19