Zonte Metals drilling discovers high- grade copper, gold and silver mineralization at its Cross Hill IOCG project
Zonte Metals drilling discovers high-
grade copper, gold and silver
mineralization at its Cross Hill IOCG
project
TSXV: ZON
HALIFAX, April 23, 2019 /CNW/ - Zonte Metals is pleased to
announce initial, partial results from its recently completed phase 1
drill program at its Cross Hills Iron Oxide Copper Gold project (IOCG)
on the island of Newfoundland and Labrador. The program was
conducted on the Dunns Mountain target and consisted of five drill
holes designed to test various geophysical variabilities in order to
ascertain possible relationships with copper mineralization. Drill hole
CH-19-004 intersected significant visual copper mineralization and a
select number of samples were expedited for assaying, which are
reported below.
Highlights
• 14.0% Cu, 15.8 g/t Au and 352 g/t Ag within a 0.43 m interval
sitting in a 2.76 m interval which averaged 2.89% Cu, 2.65 g/t
Au, 73.3 g/t Ag.
• Fertile IOCG system potentially represents the early stages of
defining a new copper belt in Canada.
• Planning for a phase 2 drill program is underway and program
expanding.
"This is an exciting new discovery for Zonte Metals, adding to our
growing portfolio of large-scale mineral opportunities. Early indications
show a discovery that has all the geologic signatures of a copper-rich
fertile IOCG target and possibly a new copper belt in Canada. The
Company controls 25 kilometre strike length of the belt with the Dunns
Mountain target located at the northern end. In light of these results
Zonte will increase its exploration and drilling program at Cross Hills."
states Terry Christopher, president and CEO of Zonte Metals.
Drill hole CH-19-004 was set-up to test the eastern side of the Dunns
Mountain magnetic anomaly, aiming to pass under the magnetic high,
in the 'transition' from high to moderate magnetics. This was the only
drill hole targeting the transition zone in the magnetic profile. A
number of discrete visually mineralized intervals were noted
throughout a 70 metre interval, between 168 and 243 metres, sitting
directly below a magnetic high. The hole was initially drilled to a depth
of 204 metres and later deepened to 283 metres when copper
mineralization was discovered in the last metre of core. The most
significant visual mineralization was intercepted between 168 to
170.76 metres which included a 0.43 metre interval of massive to
semi-massive bornite and chalcocite returning 14.0% Cu, 15.8 g/t Au
and 352 g/t Ag. The 2.76 m interval averaged 2.89% Cu, 2.65 g/t Au,
73.3 g/t Ag. The expedited results are highlighted in the table below. A
number of other intervals were expedited for assay and listed in the
table as well.
Drill Hole To
(m)
From
(m)
Thickness*
(m)
Au
(g/t)
Ag
(g/t)
Cu
(%)
Notes**
Ch-19-
004
168 170.76 2.76 2.65 73.3 2.89 Disseminated to massive mineralization. Bo & cc
with ankerite, mag and epidote.
including; 168 168.92 0.92 0.19 8.6 0.41
168.92 169.32 0.40 0.45 88.1 2.76
169.32 170.33 1.01 0.16 7.6 0.48
170.33 170.76 0.43 15.80 352.0 14.00 Heavy bo & cc with ankerite & magnetite.
And 204.41 204.89 0.48 0.01 2.18 0.13 Bo & cc with ankerite and mag.
And 218.41 220.16 1.75 0.016 4.77 0.17 Bo & cc with epidote & mag.
Including 218.41 219.43 1.02 0.019 6.51 0.26
219.43 220.16 0.73 0.012 2.33 0.05
And 231.16 231.64 0.48 0.148 18.1 0.80 Mal, az, bo & cc in heavy epidote alteration.
And 242 243 1.00 0.005 0.67 trace Potassicly altered breccia with disseminated cpy.
*Note. The true width of the mineralization is indeterminate at this time. The mineralization occurred mostly as disseminatio ns
and veins with the later showing multiple directions with respect to the core axis, including along, oblique and perpendicular to
the core axis. **Note; Bo = bornite, cc = chalcocite, cpy = chalcopyrite, mal = malachite, az = azurite and mag = magnetite.
Copper mineralization observed in the above noted intervals occurred
as massive to semi-massive veinlets and disseminated bornite and
chalcocite (with minor malachite and azurite) and weakly disseminated
chalcopyrite. Mineralization between 168 – 170.76 metres occurred in
two phases. The initial phase contained disseminated bornite and
chalcocite within magnetite and epidote alteration. This was later
overprinted by heavily disseminated to semi-massive and massive
bornite and chalcocite associated with ankerite and magnetite.
Potassic alteration, noted as biotite, sercite and k-feldspar, was
spatially associated with the mineralization. The weakly disseminated
chalcopyrite hosted in potassic breccias sits 'down-hole' from the
above noted and the relative relationship is unknown at this time. A
drill hole map and select pictures of the mineralization can be seen at
the Company's webpage; www.zontemetals.com.
Results for CH-19-001 and 002 have also been received with results
showing narrow anomalous values. These two holes targeted
magnetic highs on the northwest corner of the Dunns Mountain target.
Drill hole CH-19-004 was the only drill hole aimed at targeting the
transition, or outer zone, adjacent to the magnetic high on the western
side of the target. This drill hole passed under a magnetic high where
the intervals of mineralization were intersected. Geophysical and
geochemical surveys will be carried out prior to the next phase of
drilling. Results from the remaining phase 1 drill holes will be reported
when received.
The IOCG potential of the Cross Hills project area was documented in
a 2007 Geological Survey of Canada publication. Despite that
recognition, Zonte, which controls a 25 kilometre strike length in the
belt, is the first company to conduct a concerted exploration and drill
program to test the potential. The Dunns Mountain target is the first of
multiple targets to be drilled. The phase 1 drill program tested a
portion of the magnetic anomaly and variable relationships in the data
set. The initial success with the discovery of copper mineralization in
drill hole CH-19-004 suggests the Cross Hills Project is a fertile IOCG
system, and potentially represents the early stages of defining a new
copper belt in Canada. Drill hole CH-19-004 discovered copper
mineralization sitting peripheral to the magnetic high. The discovery in
drill hole CH-19-004 will be followed up in phase 2 drilling. In
preparation for phase 2 drilling at Dunns Mountain, additional
geophysics will be carried out including ground magnetics, Induced
Polarization (IP) and a gravity survey to first define the area to be
tested around drill hole CH-19-004 and secondly aim to identify
additional targets along the periphery of the magnetic anomaly. These
surveys will also cover the anomalies 2.5 km to the south in the Carols
Hat target area. In addition, the Company will complete a deep
penetrating IP and gravity surveys, over the K6 target in preparation
for phase II drilling. The K6 target sits 12 kilometres south of Dunns
Mountain.
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
All 2019 drill core samples were collected carried out in a careful and
diligent manner using scientifically established sampling practices
designed and tested to ensure that the results are representative and
reliable. All drill core was logged and prepared for shipment on site
and shipped to AGAT Laboratories in St. John's by Zonte personnel.
QA/QC included the systematic insertion of certified standards and
blanks. Samples were described, photographed, tagged and sealed
prior to being transported to AGAT where the samples were 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. AGAT also
provides its own internal QA/QC protocol of blanks, duplicates and
standards in each work order, which is supplied to the Zonte with the
rock sample analysis.
About Zonte
Zonte Metals Inc. is a junior explorer focused on gold and copper. The
Company has signed Option Agreements to acquire 100% of the
McConnells Jest project, in the Tintina Gold Belt, located in the Yukon
Territory and the Cross Hills IOCG project located in Newfoundland
and holds a 100% interest in the drill ready Wings Point Gold Project
also located 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, 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/April2019/23/c2824.html
%SEDAR: 00029601E
For further information: Terry Christopher, CEO and President, 902-
405-3520, [email protected], www.zontemetals.com
CO: Zonte Metals Inc.
CNW 08:30e 23-APR-19