Zonte Metals identifies a large magnetic target coincident with surface copper mineralization on the Cross Hills Project
Zonte Metals identifies a large magnetic target coincident with
surface copper mineralization on the Cross Hills Project
TSXV: ZON
HALIFAX
,
Feb. 27, 2018
/CNW/ - Zonte Metals Inc. (TSXV: ZON) ("Zonte" or the "Company) is pleased to provide an update on the ongoing
winter exploration program on the Cross Hills Iron Oxide Copper Gold Project.
Zonte's geophysical contractor has carried out a high-resolution ground magnetometer survey on select portions of the Cross Hills Project. The
Company is currently in receipt of the final results of the work over the
Dunn's
Mountain
target.
Terry Christopher
, President and CEO states "We are very excited to discover a significant anomaly on our first exploration phase. Magnetic
surveys are one of the key tools for identifying targets in IOCG systems; and the coincident nature of the large magnetic anomaly and surface
copper mineralization at the
Dunn's
Mountain
target is our first priority drill target on the Cross Hills Project. The project allows year round
exploration and we are looking forward to further exploration work with the objective of identifying additional priority targets as it is moved
towards the drilling phase."
As previously press released, sampling by the Company with historic sampling has identified widespread and intermittent surface copper
mineralization with grades from nil to 5.76% at the
Dunn's
Mountain
target. The copper mineralization occurs as bornite, chalococite and
malachite. The recent magnetometer survey has identified a large magnetic anomaly, which is coincident with copper bearing magnetite veining and
measures
650m
long by
400m
wide. The magnetic data has been processed using 3D inversion modeling and suggests the anomaly strengthens
from
50m
below surface extending to a depth of over
400m
. Images of the
Dunn's
Mountain
geophysical target in the plan view and in 3D can be
viewed at
http://www.zontemetals.com/projects/cross-hill-project/
.
Although much of the projected surface area of the anomaly is covered by trees, bog or a thin veneer of glacial till, mineralized rock samples
collected from the surface are coincident in space with the magnetic anomaly. The magnetic anomaly and much of the trend of surface
mineralization has a NW-SE strike, and may represent the surface representation of a subsurface structural control. Two other smaller anomalies
were identified on either side of the main anomaly along strike and have yet to be explored.
The magnetometer surveying has been completed over three other priority targets on the Cross Hills Property. Further updates will be provided by
the Company once the final data and interpretations have been received.
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 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/February2018/27/c7046.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 27-FEB-18