Zonte Metals provides update on Cross Hills Property and commences drilling at the Wings Point Gold project
Zonte Metals provides update on Cross Hills
Property and commences drilling at the Wings
Point Gold project
TSXV: ZON
HALIFAX
,
May 26, 2020
/CNW/ - Zonte Metals is pleased to provide the following update on the
Phase 2 drill program at its Cross Hills Iron Oxide Copper Gold (IOCG) Project and the
commencement of Phase 1 drilling at the Wings Point Gold Project.
Phase 2 drilling at the Cross Hills property is focusing on the Dunns Mountain target, where the
Company has previously intersected copper, silver and gold in an IOCG system. Drilling was
suspended early April due to the spring thaw. The project experienced significant snow
accumulations this past winter and the snow melt necessitated a suspension until the ground
conditions improve. A total of three drill holes were completed with the fourth in progress when the
drill operations were shut down. The drill rig remains on site and will be restarted shortly when the
ground conditions allow. All cores have been sampled and sent to the lab. Results will be released
when the data has been received and compiled.
In the interim, the Company has elected to commence a maiden drill program at the Wings Point
Gold project, which too, is located on the island part of
Newfoundland
and
Labrador
, approximately
30 km north of Gander. Drilling has commenced and will include 4 to 6 holes. The targets at
Wings
Point
are characterized as a disseminated gold system in sediments and analogous to the Touquoy
Project of Atlantic Gold (taken over by St. Barbra of
Australia
) in
Nova Scotia
where commercial
production started in 2018. For additional background information on the Atlantic Gold Project see
https://stbarbara.com.au/our-operations/atlantic-gold/
.
The
Wings Point
project hosts two large targets identified from the combination of rock and soil
geochemical sampling and an Induced Polarization (IP) geophysical survey. The two targets include;
the Western Anomaly which measures
1200m
long by 75-
150m
wide and returned surface samples
assaying from anomalous to 6.95 g/t gold and the Eastern Anomaly which measures
800m
long by
225m
wide and returned surface samples assaying generally between 0.25 to 1.5 g/t gold. It should
be noted that these samples were collected and press released previously by the Company and are
select grab samples in nature and do not represent the property as a whole. Bedrock gold
mineralization is coincident with the IP chargeability and resistivity anomalies. The IP anomalies are
partially located in an operating rock pit providing excellent access. The initial drill program will test
various parts of both target areas.
Acknowledgment
The Company would like to acknowledge and thank the Province of
Newfoundland
and
Labrador
for
its financial support through the junior exploration assistance program. The Company received a
$82,800.00
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/May2020/26/c4014.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 26-MAY-20