Zonte Metals executes early acquisition of McConnells Jest
Zonte Metals executes early acquisition of
McConnells Jest
TSXV: ZON
HALIFAX
,
June 18, 2019
/CNW/ - Zonte Metals Inc (TSXV: ZON) ("Zonte" or the "Company") is
pleased to provide the following update on an amendment to the McConnells Jest,
Yukon Territory
,
option agreement.
The Company has amended the terms of the the McConnells Jest property option agreement
wherein it has agreed to pay
$25,000
and issue 83,333 shares upon TSXV approval in lieu of the
scheduled
$50,000
property payment due
January 20, 2020
.
The McConnells Jest property is an Intrusion Related Gold System and borders to the east of
Victoria Gold
(VIT-TSX) where the Eagle Mine construction is 95% completed and expected to pour
its first gold in September, 2019. The Eagle Mine is an Intrusion Related Gold System which hosts
proven and probable
2.46 M
ounces of gold at an average diluted grade of 0.66 g/t Au (
Sept 2016
Victoria Gold). The mine is expected to produce approximately 200,000 ounces of gold for 10 – 11
years (this information is from
Victoria Gold's
website).
Zonte completed a short exploration program during the summer of 2017 which included prospecting
and drilling of five drill holes in three targets. Drilling made a discovery on the Two-Four target where
the company intersected
20.28 m
of 0.69 g/t Au and
20.45m
of 0.72 g/t in drill hole MJ-04. MJ-03
also intersected long intervals of anomalous gold including
81.81m
of 0.20 g/t Au. These results have
not yet been followed up with additional exploration. Prospecting identified numerous other areas of
interest and the property is remains largely underexplored. Additional information on the McConnells
Jest can be found at
www.zontemetals.com
Qualified Person
Andy Randell
, P.Geo. is the qualified person as defined by NI 43-101 and is responsible for the
preparation of the Technical Report and the technical disclosures in this press release.
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.
www.zontemetals.com
SOURCE
Zonte Metals Inc.
View original content:
http://www.newswire.ca/en/releases/archive/June2019/18/c7677.html
%SEDAR: 00029601E
For further information:
Terry Christopher, CEO and President, 902-405-3520,
CO: Zonte Metals Inc.
CNW 17:01e 18-JUN-19