Zonte Metals Inc.

TSXV: ZON

Zonte Metals provides update on the Fall 2019 drilling at the Cross Hill IOCG project.

by Site Administrator on March 3, 2020

March 3, 2020                                                                                           TSXV: ZON

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.

 

For further information contact:

Terry Christopher

CEO and President

902-405-3520

info@zontemetals.com

www.zontemetals.com

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