Zonte Metals provides update on Wings Point drilling and acquires additional claims in central Newfoundland
Zonte Metals provides update on Wings Point
drilling and acquires additional claims in
central Newfoundland
TSXV: ZON
HALIFAX, NS
,
Aug. 14, 2020
/CNW/ - Zonte Metals is pleased to provide the following update on
the Wings Point Gold Project.
Highlights:
Discovers anomalous gold at
Wings Point
in drilling including a significant quartz- carbonate-
sulphide system.
Expands
Wings Point
claims via staking, acquiring 43 additional claims contiguous and south of
Wings Point
where historic till sampling recorded 59.2 g/t gold.
The
Wings Point
project is composed of 144 contiguous claims (36 sq km) at the northern end of the
central
Newfoundland
gold belt, where New Found Gold (NFG-TSXV) discovered 92.9 g/t over
19m
in drill core (see
www.newfoundgold.com
). This belt has become a significant exploration play with
numerous companies acquiring properties and commencing exploration.
Drilling at
Wings Point
was conducted in a short six hole program testing portions of several targets.
Two drill holes tested an arsenic-in-soil anomaly, one hole tested the eastern anomaly, two holes
tested a portion of the western anomaly and the intervening interval between the eastern and
western anomalies, and one hole tested a pyrite-in-black-shale discovery. (see
www.zontemetals.com
for a drill hole map and the table below for the location and drill hole
coordiantes) The holes showed a large quartz-carbonate-pyrite system with individual units
containing arsenopyrite. The assay results, displayed below, show anomalous gold in four of the six
drill holes within several narrow intervals. The drill program was confined to a small section of the
targets and both the eastern and western anomalies remain open along strike and to depth,
particularly for the western target, which is 1.6 km long.
Drill Hole
From
To
Interval (m)
Au (ppb)
WP-20-01
11
15
2.00
171
WP-20-03
90.4
96.6
6.2
150
WP-20-04
54.09
57.56
3.47
338
incl
54.09
54.57
0.48
1296
WP-20-06
90
91
1
603
107
108
1
398
Drill Hole
easting
northing
dip
Az
length
WP20-01
682,235
5,466,459
-45
340
189
WP20-02
682,211
5,466,533
-45
340
208
WP20-03
681,810
5,466,422
-45
340
231
WP20-04
682,406
5,466,522
-45
340
209
WP20-05
681,892
5,466,691
-45
340
183
WP20-06
681,916
5,466,654
-45
160
142
The Company is also pleased to announce it has acquired through staking an additional 43 claims
contiguous and south of
Wings Point
. A search of historic work shows these claims have not seen
much exploration, however, a till sampling program carried out by Noranda in the late 1980's
discovered two till samples containing high gold values. The tills, collected are approximately
250 m
apart, recorded 59.2 g/t and 5.3 g/t gold, with the 59.2 g/t gold till being the highest value Noranda
discovered in their 831 sample till program. These samples appear to define a possible high-priority
exploration target. Note, the till data was taken from a Noranda assessment report (NFLD 1890)
and is not 43-101 compliant, historic in nature and cannot be relied upon.
Over the years Zonte has carried out numerous exploration programs at the
Wings Point
project.
These include four IP surveys, including the Pit Grid, where the above mentioned drilling was
completed, soil (conventional and mobile metal ion) sampling, prospecting and mapping. Numerous
targets have been identified in the programs that remain unexplored. Within the Pit Grid, for
example, prospecting discovered anomalous bedrock gold (0.3 – 0.9 g/t) spaced
200 m
apart and
coincident with a chargeability anomaly. Outside of in Pit Grid, three additional IP grids exhibit
numerous IP anomalies possibly defining sulphides, both disseminated and massive, and sedex
targets. None of these targets have been tested. A number of soil sampling programs have
discovered gold and base metal anomalies all of which require follow up exploration.
The Company is continuing exploration at its Cross Hills IOCG project where drilling is ongoing.
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.
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.
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. 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 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/August2020/14/c9295.html
%SEDAR: 00029601E
For further information:
Terry Christopher, CEO and President, 902-405-3520,
[email protected], www.zontemetals.com
CO: Zonte Metals Inc.
CNW 10:12e 14-AUG-20