June 3, 2019 TSXV: ZON
Zonte Metals is pleased to announce the remainder of its assay results from its recently completed Phase 1 drill program at its Cross Hills Iron Oxide Copper Gold Project on the island of Newfoundland and Labrador along with the results of additional Induced Polarization/resistivity surveying performed over priority areas on the eastern side of the Dunn’s Mountain Property.
The Phase 1 program conducted on the Dunns Mountain target consisted of five drill holes designed to test known areas of outcropping copper mineralization along with various areas showing geophysical variabilities based on the Companies recently performed geophysical surveys. The highlight of the program was the intersection of significant high-grade copper, gold and silver mineralization and the confirmation of a fertile IOCG system in the Dunn’s Mountain area.
The complete compiled drill results are located in the table below. These include partial results from CH-19-004 released on April 23, 2019 at which time the Company announced the intersection of a high-grade 0.43m interval assaying 14.0% Cu, 15.8 g/t Au and 352 g/t Ag. A number of additional intervals intersected in holes CH-19-004 and CH-19-005 are highlighted in the following table.
“The additional IOGC mineralization intersected in Phase 1 drilling at Cross Hills adds to the possibility that the Cross Hill Property represents a new copper belt in Canada. Controlling 25 km of this belt puts the Company in a strong position for new discoveries to be made. At Dunns Mountain the drill intersected mineralization in CH-19-004 sits above a newly identified IP target which may represent the possible source of mineralization and will be tested in the Phase 2 program. The IP target is large and open to depth and along strike. The company will complete a gravity survey to compliment this data set which will assist in the upcoming drill program” states Terry Christopher, president and CEO of Zonte Metals.
*Note. The true width of the mineralization is indeterminate at this time. The mineralization occurred mostly as disseminations and veins with the later showing multiple directions with respect to the core axis, including along, oblique and perpendicular to the core axis. **Note; bo = bornite, cc = chalcocite, cpy = chalcopyrite, mal = malachite, az = azurite and mag = magnetite.
Drill CH-19-003 three was set up to test a deep magnetic ‘high’ that appears to represent a possible ‘feeder-like’ structure or possible structural related zone on the south side of the Dunns Mountain magnetic anomaly. CH-19-003 was drilled to a depth of 480m, however, the hole deviated significantly and missed its target. Copper mineralization was encountered on the outer edge of the magnetic high and intersected widely spaced chalcopyrite/pyrite veinlets between 311 and 345m. The importance of this mineralization is unknown at this time.
Drill hole CH-19-004 was collared to test the eastern side of the large Dunns Mountain magnetic anomaly, aiming to pass under the magnetic high, in the ‘transition’ from high to moderate magnetics. This was the only drill hole targeting the transition zone in the magnetic profile. Within a 70 m core interval, a number of mineralized zones were intersected as high-lighted in the above table.
As part of an ongoing and aggressive exploration program on the Property, additional Induced polarization and resistivity surveying was performed to extend the previous gridded area over the area of mineralization intersected in hole CH-19-04 and to the east. Three lines of data were collected with encountered number of anomalies located near mineralization in hole CH-19-004. Further to these results a gravity survey will be carried out over the Dunns target area shortly to further define the drilling targets. The gravity survey will be completed on other parts of the property as well, including the K6 area.
A drill hole map and select pictures of the mineralization can be seen at the Company’s webpage; www.zontemetals.com.
Acknowledgment
The Company would like to acknowledge the Province of Newfoundland and Labrador for its financial support through the junior exploration assistance program. The Company received a $20,367.97 grant to subsidize the 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 2019 drill core samples were collected carried out in a careful and diligent manner using scientifically established sampling practices designed and tested to ensure that the results are representative and reliable. All drill core was logged and prepared for shipment on site and shipped to AGAT Laboratories in St. John’s by Zonte personnel. QA/QC included the systematic insertion of certified standards and blanks. Samples were described, photographed, tagged and sealed prior to being transported to AGAT where the samples were analyzed for the 201-070 package (44 element 4 acid leach, ICP-OES finish) and the 202-551 package for gold (a 50 gram Fire Assay Au finish). AGAT is an independent, reputable and accredited full-service commercial laboratory; accredited to ISO/IEC 17025:2005. AGAT 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