Zonte Metals signs drill contract for Phase 1 at Cross Hills IOCG Property
Zonte Metals signs drill contract for Phase 1 at
Cross Hills IOCG Property
TSXV: ZON
HALIFAX
,
Dec. 12, 2018
/CNW/ - Zonte Metals Inc (TSXV: ZON) ("Zonte" or the "Company") is
pleased to announce it has signed a drill contract for the Phase 1 drilling at the Cross Hills Iron
Oxide Copper Gold Property in
Newfoundland
and
Labrador
. The drill rig is scheduled to be
mobilized to the target during the second week of January. Drilling will be conducted on the Dunns
Mountain target where the Company has delineated a large target defined by coincident high-
resolution ground magnetics, induced polarization and a large mineralized corridor containing copper,
silver and gold in surface grab samples (see press release dated
October 11, 2018
).
Zonte also advises that the closing of its previously announced non-brokered private placement (see
press release dated
November 29, 2018
) consisted of the issuance of 3,636,000 Units at a price of
$0.25
per Unit and 2,783,333 flow though shares at a price of
$0.30
per flow-through share for total
proceeds of
$1,743,990.90
.
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
Yukon Territory
and the Cross
Hills IOCG project located in
Newfoundland
and
Labrador
; and holds a 100% interest in the drill
ready Wings Point Gold Project. In addition, the Company and partner have an application over open
areas sitting over 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, financial and business prospects and 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/December2018/12/c6284.html
%SEDAR: 00029601E
For further information:
Terry Christopher, CEO and President, 902-405-3520,
CO: Zonte Metals Inc.
CNW 16:00e 12-DEC-18