Zonte Metals Inc.

TSXV: ZON

Cross Hills Project (IOCG)

The Cross Hills Project is an Iron Oxide Copper Gold (IOCG) project composed of 493 claims covering 12325 hectares which was acquired through a combination of staking and an option to purchase acquisition.  The project lies on the southern portion of the island of Newfoundland and Labrador. The project is accessible by local paved roads and a network of ATV trails.

 

The project over its history has been explored for various metals including, copper, gold, uranium and rare earth metals, mostly in singular fashion. Several companies over the last 15 years have examined the project for IOCG potential with positive results, however, no company has completed a focused exploration program to unlock its potential. Zonte has been exploring the project for the last two years and now in Phase 2 drilling after a discovery during Phase 1.

Surface ground exploration has identified a series of targets defined by some combination of magnetic, gravity, IP and mineralization data that lie along the Cross Hills Fault and spatially related cross and splay faults. The most northern target is called the Dunns Mountain target, which shows an association of copper, gold and silver mineralization associated with a large coincident magnetic and gravity anomalies. Phase 1 drilling discovered high-grade mineralization (see below) and the first few holes in Phase 2 identified long sections of core with spaced microfractures with mineralization. Notable drill results are below with drill hole CH-19-004 showing:

  1. high-grade copper mineralization in the form of disseminated to massive bornite, chalcocite, azurite and malachite associated in two phases. The early mineral phase appears associated with epidote alteration and the later with ankerite alteration.
  2. intermittent mineralization over a 70 metre zone which sits just under a magnetic high. This relationship suggests copper mineralization is likely associated spatial with the magnetic high, sitting on the periphery, which is common for IOCG deposits.

The drill hole map, illustrated below, shows the drill holes projected to surface. The map illustrates the magnetic profile (colour) and gravity anomaly (contours).

 

Drill results from CH-19-004 are noted in the table below.

Drill Hole To

(m)

From

(m)

Thickness* (m) Au (g/t) Ag

(g/t)

Cu

(%)

Notes**
Ch-19-004 168.00 170.76 2.76 2.65 73.3 2.89 Disseminate to massive bo & cc with ankerite, mag and epidote.
including; 168.00 168.92 0.92 0.19 8.6 0.41
168.92 169.32 0.40 0.45 88.1 2.76
169.32 170.33 1.01 0.16 7.6 0.48
170.33 170.76 0.43 15.80 352 14.00 Heavy bo & cc with ankerite & mag.
And 204.41 204.89 0.48 0.01 2.18 0.13 Bo & cc with ankerite and mag.
And 218.41 220.16 1.75 0.016 4.77 0.17 Bo & cc with epidote & mag.
Including 218.41 219.43 1.02 0.019 6.51 0.26
219.43 220.16 0.73 0.012 2.33 0.05
And 231.16 231.64 0.48 0.148 18.1 0.80 Mal, az, bo & cc in heavy epidote alteration.
And 242 243 1.0 0.005 0.67 trace Potassic altered breccia with disseminated cpy.

Note, the true width of the zone has not been determined. Bo = bornite, cc = chalcocite, cpy = chalcopyrite, mal = malacite, az = azurite and mag = magnetite.

 

Additional pictures of select mineralized intervals can been observed on the Company’s Instagram account.

Drilling in Phase 1 has highlight that the mineralization sits most likely on the periphery of the magnetic anomaly, and in the immediate case with Dunns Mountain on the eastern side. The recently completed gravity shows a large gravity sitting under the magnetic profile. The image below shows the core of the gravity anomaly sitting below the magnetic profile, while the gravity anomaly itself is large extending beyond the magnetic anomaly. Phase 2 drilling will test areas throughout this gravity anomaly.

The image below exhibits the large gravity anomaly discovered under Dunns Mountain. The target is large, measuring 750m long, 400m wide and up to 1000m deep.

 

 

 

Previous magnetic surveys identified large anomalies at the Carols Hat area, which sits just sound of Dunns Mountain. These anomalies are large with the Big K target measureing 600 by 700m and up to 700m deep. The recently completed gravity survey identified a large gravity anomaly associated with the Big K target, which is on the order in size similar to that at Dunns. Images of the magnetic and gravity anomalies are below.

 

 

 

 

 

 

 

 

 

 

 

A third area of focus for the Company lies 12 kilometres south of Dunns Mountain, where a mag survey has discovered the K6 target in 2018. At surface copper mineralization has been identified in a number of showings and indications. Copper mineralization is characterized as chalcopyrite, malachite and azurite all associated with iron oxide alteration, magnetic and gravity anomalies. Two drill holes were completed at K6 with anomalous values intersected. This target will be further drill tested.  .

A plan map of the target, including the magnetics and gravity are illustrated below.

Image of the inverted magnetic data at K6.

 

 

 

 

K7 Target

The newly discovered K7 target sits in a belt the company has been focused on and sits 1.7 km south of the K6 target. The K7 target gravity was identified in a recently completed gravity survey. The 3D inversion model of the gravity anomaly is illustrated below. The target is large, sits about 130m below surface and extends vertically deeper. The anomaly sits on the edge of a magnetic high.

Additionally, the company completed a deep penetrating IP survey and MMI soild sampling over and around the anomaly. The IP survey discovered a coincident increase in both changeability and resistivity in the gravity target. The MMI soil program identified elevated copper values in and around the target.

 

 

The Cross Hill areas has also been recognized by the Geological Survey of Canada

who noted it in a technical paper (Iron Oxide Copper-Gold (±Ag ±Nb ±P ±REE ±U) Deposits: A CANADIAN PERSPECTIVE, by Lousie Corriveau in 2007.

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