Zonte Metals drilling intersects additional IOCG mineralization and identifies large IP target
Zonte Metals drilling intersects additional
IOCG mineralization and identifies large IP
target
TSXV: ZON
HALIFAX
,
June 3, 2019
/CNW/ - Zonte Metals is pleased to announce the remainder of its assay
results from its recently completed Phase 1 drill program at its Cross Hills Iron Oxide Copper Gold
Project on the island of
Newfoundland
and
Labrador
along with the results of additional Induced
Polarization/resistivity surveying performed over priority areas on the eastern side of the
Dunn's
Mountain Property.
The Phase 1 program conducted on the Dunns Mountain target consisted of five drill holes designed
to test known areas of outcropping copper mineralization along with various areas showing
geophysical variabilities based on the Companies recently performed geophysical surveys.
The
highlight of the program was the intersection of significant high-grade copper, gold and
silver mineralization and the confirmation of a fertile IOCG system in the
Dunn's
Mountain
area.
The complete compiled drill results are located in the table below. These include partial results from
CH-19-004 released on
April 23, 2019
at which time the Company announced the intersection of a
high-grade
0.43m
interval assaying 14.0% Cu, 15.8 g/t Au and 352 g/t Ag. A number of additional
intervals intersected in holes CH-19-004 and CH-19-005 are highlighted in the following table.
"The additional IOGC mineralization intersected in Phase 1 drilling at Cross Hills adds to the
possibility that the Cross Hill Property represents a new copper belt in
Canada
. Controlling 25 km of
this belt puts the Company in a strong position for new discoveries to be made. At Dunns Mountain
the drill intersected mineralization in CH-19-004 sits above a newly identified IP target which may
represent the possible source of mineralization and will be tested in the Phase 2 program. The IP
target is large and open to depth and along strike. The company will complete a gravity survey to
compliment this data set which will assist in the upcoming drill program" states
Terry Christopher
,
president and CEO of Zonte Metals.
Drill Hole
To
(m)
From
(m)
Thickness
(m)*
Au
(g/t)
Ag
(g/t)
Cu
(%)
Notes**
CH-19-004
41
44
3
0.01
0.9
0.06
And
168
172
4
1.88
52.1
2.06
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
0.4
0.45
88.1
2.76
169.32
170.33
1.01
0.16
7.6
0.48
170.33
170.76
0.43
15.8
352.0
14.0
Heavy bo & cc with ankerite & mag.
170.76
171.5
0.74
0.3
17.73
0.35
171.5
172
0.5
0.03
1.06
0.04
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
0.8
Mal, az, bo & cc in heavy epidote alteration.
And
242
243
1
0.005
0.67
trace
Potassicly altered breccia with disseminated cpy.
CH-19-005
18.83
20.4
1.57
0.03
1.21
0.19
And
26.34
28.54
2.11
0.09
5.97
0.49
including
26.34
27.75
1.41
0.13
8.17
0.69
27.75
28.45
0.7
0.01
1.54
0.09
*Note. The true width of the mineralization is indeterminate at this time. The mineralization occurred mostly as disseminations 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.
Drill CH-19-003 three was set up to test a deep magnetic 'high' that appears to represent a possible
'feeder-like' structure or possible structural related zone on the south side of the Dunns Mountain
magnetic anomaly. CH-19-003 was drilled to a depth of
480m
, however, the hole deviated
significantly and missed its target. Copper mineralization was encountered on the outer edge of the
magnetic high and intersected widely spaced chalcopyrite/pyrite veinlets between 311 and
345m
.
The importance of this mineralization is unknown at this time.
Drill hole CH-19-004 was collared to test the eastern side of the large 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. Within a
70 m
core
interval, a number of mineralized zones were intersected as high-lighted in the above table.
As part of an ongoing and aggressive exploration program on the Property, additional Induced
polarization and resistivity surveying was performed to extend the previous gridded area over the
area of mineralization intersected in hole CH-19-04 and to the east. Three lines of data were
collected with encountered number of anomalies located near mineralization in hole CH-19-004.
Further to these results a gravity survey will be carried out over the Dunns target area shortly to
further define the drilling targets. The gravity survey will be completed on other parts of the property
as well, including the K6 area.
A drill hole map and select pictures of the mineralization can be seen at the Company's webpage;
www.zontemetals.com
.
Acknowledgment
The Company would like to acknowledge the Province of
Newfoundland
and
Labrador
for its financial
support through the junior exploration assistance program. The Company received a
$20,367.97
grant to subsidize the exploration 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
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/June2019/03/c6174.html
%SEDAR: 00029601E
For further information:
Terry Christopher, CEO and President, 902-405-3520,
CO: Zonte Metals Inc.
CNW 08:30e 03-JUN-19