Zonte Metals provides update on the Fall 2019 drilling at the Cross Hill IOCG project
Zonte Metals provides update on the Fall 2019
drilling at the Cross Hill IOCG project
TSXV: ZON
HALIFAX
,
March 3, 2020
/CNW/ - Two drill holes were completed on both the K6 and Dunns
Mountain targets during November - December of 2019. The initial proposed program was
hampered by uncharacteristic heavy rains so drilling locations were altered to logistically accessible
areas within the targets. The present drill program, which is in progress on Dunns Mountain, will
allow testing of the targets that were not easily accessible during 2019 program.
The fall 2019 drill holes tested various areas of interest utilizing ground gravity data in combination
with magnetic and Induced Polarization data. At K6 the drill holes were aimed to test the gravity
high on the eastern side of the target and the gravity anomaly sitting above a pipe-like structure
observed in the 3D high-resolution magnetic profile. At Dunns Mountain one drill hole was completed
on the eastern-most side of the 3D inversion gravity anomaly and the second one completed in front
of the mountian aiming to test a portion of the anomaly at that location.
Drill hole CH-19-09, at Dunns Mountain, was drilled on the southeast side of the mountain aiming
back at the gravity anomaly. The drill hole was terminated at
506m
due difficulties related to a large
hematitic fault structure. This hole showed visual mineralization in several long core lengths including
120 -
160m
and 220 -
275m
, where selected samples returned anomalous copper values up to
0.29% copper. Mineralization through these intervals is characterized as spaced millimeter-scale
mineralized fractures containing chalcopyrite and pyrite. The upper interval showed more pyrite with
lesser amounts of chalcopyrite with the bottom interval dominated by chalcopyrite and lesser pyrite.
The intervals were dominantly mineralized in millimeter scale fractures, with several narrow intervals
containing mineralization throughout the rock.
Drill hole CH-19-008, at Dunns Mountain, targeted the core of the gravity anomaly from the eastern
side of the mountain. In this location the gravity sits below, and partially overlapping, the magnetic
anomaly. Visually, the drill hole showed strong hydrothermal alteration above the gravity core, with
the gravity core defined by a slight increase in magnetite. Anomalous copper values were
intersected in several narrow intervals.
At K6 the two drill holes returned anomalous values in narrow intervals. Visually, drill hole CH-19-06,
which targeted the gravity core showed strong hydrothermal alteration. Minor narrow zones and
fractures were encountered that contain copper mineralization in the from of chalcocite and bornite.
Minor native copper mineralization was also noted and associated with late quartz veining.
Drilling is progressing well at Dunns Mountain and will continue through the winter and spring.
Presently the drill is completing holes on the eastern side of the mountain in the area where drill hole
CH-19-004, completed last winter, intersected a number of copper intervals including 14.0% Cu,
15.8 g/t Au and 352 g/t Ag over a
0.43m
interval sitting in a
2.76m
interval which averaged 2.89%
Cu, 2.65 g/t Au and 73.3 g/t Ag (see press release dated
April 23, 2019
). The K6 target remains
largely untested and future drilling will occur on the southern portion of the target area where the
company has previously identified copper mineralization in surface outcrop and anomalous copper in
soils which are coincident with the gravity target. Targets K7 and the Big K have yet to be tested.
Maps showing the drilling and targets can be found at
http://www.zontemetals.com/projects/cross-hill-project/
Terry Christopher
commented, "The additional gravity data set, in combination with the Company's
3D data set, has proved to be a successful tool for follow-up drilling as we explore the Cross Hills
IOCG project. Drilling during this program is showing significant increase in hydrothermal alteration
and sulphide content. Drill hole CH-19-009 at Dunns shows a spaced fracture set with mineralization
and is the single longest zone of visual mineralization observed to date. The increase in sulphide
content is significant and the nature of mineralization and orientation of the fracture set will be used
to assist in target definition for our ongoing drill program."
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 drill core was logged and prepared for shipment on site and shipped to Eastern Analytical in
Springdale, NL
under chain of custody. QA/QC included the systematic insertion of certified
standards and blanks. Samples were described, tagged and sealed prior to being transported to the
lab where the samples were analyzed for the ICP-34 package (34 element 4 acid leach, ICP-OES
finish) and the Fire Assay (30g) with AA finish. Eastern Analytical 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/March2020/03/c3909.html
%SEDAR: 00029601E
For further information:
Terry Christopher, CEO and President, 902-405-3520,
[email protected], www.zontemetals.com
CO: Zonte Metals Inc.
CNW 07:55e 03-MAR-20