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.