Zonte Metals discovers a significant Gravity anomaly at the K6 target
Zonte Metals discovers a significant Gravity
anomaly at the K6 target
TSXV: ZON
HALIFAX
,
Oct. 8, 2019
/CNW/ - Zonte Metals is pleased to announce the discovery of a significant
gravity anomaly at the K6 target identified during recently completed detailed ground gravity survey
at its Cross Hills Iron Oxide Copper Gold project.
The gravity survey carried out during July to September was completed over two different blocks. A
southern block which covers the area between and including K6 and K8 targets and a northern block
which covers the Dunns Mountain area and south to near Carols Hat. In the search for IOCG
deposits, the gravity method is a useful geophysical tool used to help identify drill targets. In
magnetite-hematite systems, which appears to be the common association for known copper
mineralization at the Cross Hills Property, the ideal geophysical signature for the IOCG model would
be associated gravity and magnetic anomalies.
The K6 target area, which sits about 12km south of the Dunns Mountain target, was discovered by
high-resolution ground magnetics in 2018. The recently completed gravity survey was conducted to
ascertain whether the K6 area would be drill tested. The collected Bouguer gravity data from the K6
area was processed to identify the residual gravity signature which was further processed with 3D
inversion modeling. The data suggests a large gravity anomaly sitting 100 –
150m
below surface,
measuring approximately
600m
in length,
150m
wide with a
250m
depth extent. The gravity anomaly
sits adjacent to and partially overlaps the magnetic high anomaly. A plan map showing the inversion
magnetic and residual gravity data for K6 can be seen at
http://www.zontemetals.com/projects/cross-hill-project/
Exploration carried out by the company in 2018 in the K6 area discovered surface copper
mineralization in the form of malachite, azurite and chalcopyrite from surface grab samples with the
best assay returning 0.28% Cu and 7 g/t Ag (see news release
June 12, 2018
). These mineralized
samples are spatially associated with the magnetic and gravity anomalies at K6. The surface rock
samples noted above were grab samples and not representative of the target as a whole. K6 will be
drill tested as part of a larger upcoming drill program, which is anticipated to start in October. The
remaining gravity data will be released once it has been processed by third party consultants, which
is expected shortly.
The Company would like to acknowledge the Department of Natural Resources and 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.
www.zontemetals.com
SOURCE
Zonte Metals Inc.
View original content:
http://www.newswire.ca/en/releases/archive/October2019/08/c0506.html
%SEDAR: 00029601E
For further information:
Terry Christopher, CEO and President, 902-405-3520,
CO: Zonte Metals Inc.
CNW 16:00e 08-OCT-19