Zonte reports results from initial K7 drilling and discovers large magnetic anomaly north of Dunns Mountain.
Zonte reports results from initial K7 drilling
and discovers large magnetic anomaly north
of Dunns Mountain.
HALIFAX, NS
,
Jan. 19, 2021
/CNW/ - Zonte Metals is pleased to provide the following an update on
the initial two drill holes at the K7 target and the discovery of a large magnetic anomaly north of
Dunns Mountain.
The K7 target is a coincident gravity/magnetic anomaly sitting approximately 13km south of Dunns
Mountain and between the K6 and K8 targets. The K7 target was discovered during a gravity survey
which identified a large target sitting 130-
150m
below the surface. Geologically, the target is hosted
by an altered porphyritic unit displaying potassic, sodic and calcic alteration.
Two drill holes were completed from the same drill pad (668425E, 5290828N) on the eastern end of
the target. Both holes interested anomalous copper and silver as well as anomalous rare earth
mineralization. CH-20-11 was drilled towards the gravity anomaly, testing the portion of the target
closest to surface. This drill hole intersected a
1.05m
zone of 0.27% Cu with trace silver as well as
two intervals (7.8 and
7.25m
) with elevated Zr, Y, Ce and Nd. CH-20-12 intersected a
24m
wide
pyrite rich zone with anomalous Cu and Ag with the single highest Cu grade at 0.43% Cu and 14.1
g/t Ag over
0.3m
. This hole also intersected a
4.8m
interval with elevated Zr, Y, Ce and Nd. Both
drill holes showed elevated IOCG geochemical signatures, such as Bi as well as abundant fluorite
throughout the drill core. A table of the results is found below.
Subsequent to the drilling at K7, the company completed a MMI soil sampling survey in the area
which identified two Cu anomalies; the first located on the south flank of the gravity anomaly and the
second on the western side of the anomaly. Both are of significant size with the larger one up to
750m
in length. Of note, soil sampling was hampered by limited quality sampling sites in the area
and the anomalies remain open along strike where sampling could not be conducted. A map
illustrating the gravity and soil anomalies with drill holes is found on the Company's webpage at link
http://zontemetals.com/projects/cross-hill-project/
In addition, the Company is pleased to announce the discovery of a large magnetic anomaly, sitting
2km north of Dunns Mountain. Last fall the company complete a large airborne magnetic survey over
portions of the property. Field checking through the fall was carried out on a number of anomalies
for IOCG signatures. A large 3km by 2.5km magnetic anomaly was discovered about 2km north of
the Dunns Mountain target. Time constraints resulted in a very limited prospecting program at the
new anomaly, however, on the northern flank of the anomaly two copper showings were discovered.
It was also noted that much of the anomaly is under cover and a program of additional prospecting,
soil geochem and possible additional geophysics will be conducted. A map illustrating the new
anomaly is found at the above noted link.
Terry Christopher
, President comments 'The initial two drill holes at K7 tested just the eastern edge
of the target area. Data shows the target carries copper, silver and rare earth metals. The target
remains open, including to depth where the gravity anomaly has significant vertical thickness. The
recent soil geochem will focus the next stage of drilling at K7, where the anomalies identified, sit on
the flank of the gravity anomaly. The deeper parts and centre of the gravity anomaly has yet to be
tested and will require a drill test as well. The newly discovered large magnetic anomaly north of
Dunns Mountain is exciting as it's in an area not previously explored. The anomaly is large, being
multiple times larger than the Dunns Mountain target, and although mostly covered, copper has been
discovered on the northern flank. This anomaly will be a focus of significant exploration to advance
the target for drilling, if warranted. "
Drill Hole
Fr (m)
To (m)
Interval (m)
Cu (%)
Ag (g/t)
Au (g/t)
CH-20-11
66.15
67.2
1.05
0.28
0.4
0
Zr (ppm)
Y (ppm)
Nd
(ppm)
Ce
(ppm)
CH-20-11
63.0
70.8
7.8
1069
152
235
235
and
80.0
87.25
7.25
2260
292
325
325
Drill Hole
Fr
To
Interval (m)
Cu (%)
Ag (g/t)
Au (g/t)
CH20-12
212.5
214.0
1.5
0.11
5.4
tr
and
220.8
221.1
0.3
0.41
14.1
tr
Zr (ppm)
Y (ppm)
Nd
(ppm)
Ce
(ppm)
CH-20-12
81.0
85.8
4.8
1110
155
221
221
The Company acknowledges the Province of
Newfoundland
and
Labrador
for its financial support
through the junior exploration assistance program for 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 drill core was logged and prepared 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 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 Zonte with the rock
sample analysis. Eastern Analytical provided a third party rare earth analysis from ACME
laboratories. MMI soil samples were collected in a careful and diligent manner. Samples are tagged
and sealed prior to being shipped by SGS Laboratories, which is an independent and accredited full-
service commercial laboratory accredited to ISO/IEC 17025.
About Zonte
Zonte Metals Inc. is a junior explorer focused on gold and copper. The Company owns 100% of the
McConnells Jest project, in the Tintina Gold Belt, located in the
Yukon Territory
, the
Wings Point
project in the new Central Newfoundland Gold Belt, and has an option to earn 100% in the Cross
Hills IOCG project located in
Newfoundland
. In
Colombia
the company has a 25% carried interest in
Project X where historic drilling interested significant gold mineralization; and 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/January2021/19/c5844.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 19-JAN-21