HALIFAX, June 12, 2018 /CNW/ - Zonte Metals Inc. (TSXV:
ZON) ("Zonte" or the "Company") is pleased to provide an update
related to its ongoing exploration program at the Cross Hills Iron
Oxide Copper-Gold Project.
Over the past several months, and as part of a larger program,
Zonte has been carrying out high-resolution ground magnetometer
surveys on select portions of the Cross Hills Project. The most
recent area of focus has been about 12 kilometres south of Dunns
Mountain, where the Company has previously identified a
high-priority target. The newly discovered target, named K6, is
characterized by a large strong magnetic anomaly with a surface
projection measuring up to 1200m x
700m. The top of the strongest
portion of the anomaly sits 100 to 150m below the surface and extends over
800m deep. Prospecting in the area
has identified numerous copper showings and indications, all
coincident with the anomaly at surface. One newly discovered
mineral showing was assayed and returned 0.28% copper, 3.1 g/t
silver and trace amounts of gold.
Terry Christopher, President and
CEO states "The newly discovered K6 target is very large with
considerable thickness and sits at the junction of two major
faults. Despite the target sitting below surface, numerous
locations with copper mineralization have been discovered above the
anomaly at surface. This in combination with the alteration that
has been identified suggests this is a high-priority IOCG drill
target. Exploration along the Cross Hills trend, of which Zonte
controls 25 kilometres of strike length, continues to provide
targets. A significant advantage of the property is the high
percentage of bedrock exposure which allows targets to be fully
explored to decide whether or not they warrant further work;
bringing them well beyond just a geophysical anomaly".
The K6 target discovery resulted from follow-up exploration
after the discovery of a new albitite breccia. Subsequent
geophysical work in that area identified the K6 target which at
surface is coincident with rocks showing iron oxide, calcic, sodic
and potassic alteration. The mag survey also identified a number of
magnetic intrusive plugs which can be seen at surface and on the
magnetic profiles as smaller anomalies in and around the K6
anomaly. The newly discovered coincident copper mineralization in
all cases is associated with iron oxide alteration. The K6 anomaly
sits at the structural intersection of two large faults, one of
which is the Cross Hills Fault, which is a deep seated regional
fault in the area, and where most of the known IOCG type of
mineralization has been associated with in this area. The Cross
Hills Property covers 25 kilometres of the Cross Hills Fault system
and much of the property still remains unexplored.
Images of the K6 geophysical target including plan view and 3D
inversion geophysical model can be viewed at
http://www.zontemetals.com/projects/cross-hill-project.
Exploration is continuing and updates will be provided by the
Company once the final data and interpretations have 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.
QA/QC
Rock samples were collected in a careful and diligent manner using
scientifically established sampling practices designed and tested
to ensure that the results are representative and reliable. Samples
are described, photographed, tagged and sealed prior to being
shipped by Zonte personnel to AGAT Laboratories Ltd. AGAT is an
independent, reputable and accredited full-service commercial
laboratory accredited to ISO/IEC 17025:2005.
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.
www.zontemetals.com
SOURCE Zonte Metals Inc.