TSXV: ZON
HALIFAX, Dec. 12, 2018 /CNW/ - Zonte Metals Inc
(TSXV: ZON) ("Zonte" or the "Company") is pleased to announce it
has signed a drill contract for the Phase 1 drilling at the Cross
Hills Iron Oxide Copper Gold Property in Newfoundland and Labrador. The drill rig is scheduled to be
mobilized to the target during the second week of January. Drilling
will be conducted on the Dunns Mountain target where the Company
has delineated a large target defined by coincident high-resolution
ground magnetics, induced polarization and a large mineralized
corridor containing copper, silver and gold in surface grab samples
(see press release dated October 11,
2018).
Zonte also advises that the closing of its previously announced
non-brokered private placement (see press release dated
November 29, 2018) consisted of the
issuance of 3,636,000 Units at a price of $0.25 per Unit and 2,783,333 flow though shares
at a price of $0.30 per flow-through
share for total proceeds of $1,743,990.90.
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 Yukon
Territory and the Cross Hills IOCG project located in
Newfoundland and Labrador; and holds a 100% interest in the
drill ready Wings Point Gold Project. In addition, the Company and
partner have an application over open areas sitting over 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, financial and
business prospects and 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.