TSXV: ZON
HALIFAX, NS, June 18, 2020 /CNW/ - Zonte Metals is pleased to
provide the following update on the ongoing phase 2 drill program
at its Cross Hills Iron Oxide Copper Gold (IOCG) Project. The
Company also wishes to announce it has completed the phase 1 drill
program at its Wings Point Gold Project.
At the Cross Hills IOCG project, winter drilling included the
completion of four holes with a fifth in progress at the Dunns
Mountain target. The winter program was shut down due to the spring
thaw. The drill holes focused on the eastern side of Dunns
Mountain.
Highlights:
DH-20-03 intersected narrow high-grade silver, copper and
tungsten mineralization with a 0.12m
interval returning 2048 g/t silver, 1.17% copper, > 0.1%
tungsten and trace gold.
DH-20-01 intersected long intervals of widely spaced hairline
fractures containing copper mineralization.
DH-20-02 intersected intervals of anomalous copper values with
zinc and lead mineralization which has been identified peripheral
to some IOCG deposits.
Drill holes CH-20-01 through to 03 were drilled on the eastern
side of Dunns Mountain while the heavy snow cover allowed for
easier logistics. These holes tested the moderate to weak gravity
anomaly associated with the eastern side of the magnetic anomaly.
DH-20-01 was drilled from east side of the mountain to the
southwest. Several intervals of visual mineralization were noted
including; 122.5 to 139m which
returned anomalous copper values and between 305 and 405m where widely spaced hairline fractures
containing copper mineralization was noted. The later interval of
mineralization is similar in nature to the mineralization
identified in CH-19-09 where spaced hairline mineralized fractures
were intersected between 120 - 160m
and 220 - 275m (see March 3, 2020 press release). DH-20-02 showed
several intervals of anomalous copper with elevated zinc and lead
values. The intervals between 98.24 - 100m and 157.31 - 161.2m recorded zinc values up to 0.69% zinc with
anomalous lead and copper. DH-20-03 was the most eastern drill hole
aimed at established the outer limits of the alteration halo at
Dunns Mountain. This drill hole intersected a 0.12m zone of high-grade silver between 291.40 –
291.52m which returned 2048 g/t
silver, 1.17% copper, > 0.1% tungsten and trace gold.
DH-20-04 was drilled from the top of the hill back in an
approximate east-northeast direction towards the high-grade silver
interval in CH-20-03. The hole deviated from the target and didn't
intersect the projection of the mineralized zone. A number of
narrow veins containing bornite mineralization were interested in
this hole.
DH-20-05 was started prior to the spring thaw and stopped at
180m when snow conditions
deteriorated. This hole did intersect several narrow zones of
mineralization at the top of the hole with one 0.45m interval returning 0.35% copper, 6.5 g/t
silver and trace gold. Drilling has restarted and this hole will
target a deeper section of the Dunns gravity and magnetic
profile.
Drilling on the eastern side of Dunns Mountain showed
intermittent anomalous copper, increase pyrite content as well as
sphalerite mineralization. These mineral assemblages are sometimes
associated with the periphery of IOCG systems and this data will be
used in the design of the continuing drill program at Dunns. The
notable lengths of widely spaced hairline fracturing containing
copper mineralization in CH-20-01 which was similar to that
previously interested on the south side of the mountain warrants
further testing as does the possible extension of the narrow
high-grade silver in DH-20-03. The Company continues to test
various parts of the large 1300m by
600m gravity and coincident magnetic
anomaly at Dunns Mountain.
The drill program at the Wings Point Gold Project has been
completed with six drill holes testing various targets on the
Property. The drill core is presently being split, sampled and
shipped to the lab. The results will be released once data
has been received.
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.