Trading Symbol: TSX-V: ZFR OTC-ZPHYF
Shares Outstanding:
66,107,910
HALIFAX, NS, Aug. 20, 2020 /CNW/ - Zephyr Minerals Ltd.
(TSXV: ZFR) ("Zephyr" or the "Company")
announces today that drilling continues on drill hole
EL-20-01. Progress on the drill program has been slower than
anticipated and it is now expected it will be a further 10 days
before the hole is completed after which a visual report will be
released.
Drill hole EL-20-01 is testing the western magnetic anomaly on
the El Plomo section of the Dawson – Green Mountain Property in
Colorado, which is prospective for
Broken Hill type silver-lead-zinc mineralization. The drill hole is
located to intersect the magnetic anomaly at depth below the
historic (US Borax, 1981) drill hole GC-9 which intersected
magnetic silver-lead-zinc mineralization at shallow depth (News
Release April 16, 2020).
Loren Komperdo, President and
CEO, stated "We appreciate our shareholders patience while drilling
continues."
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. continues to advance its 100% owned high
grade Dawson-Green Mountain Project in Colorado, USA. After expanding it's land
package to 1,385 hectares (3,430 acres) the Company now controls a
12.2 km long Dawson-Green Mountain
mineralized trend. The central 3.2 km long El Plomo section is the
focus for potential Broken Hill Type silver-lead-zinc
mineralization and the east and west sections, Dawson and Green
Mountain respectively are being targeted for gold. The Dawson
section is currently host to a high grade inferred gold resource.
The Company believes the combined Dawson and Green Mountain
sections encompassing approximately 9 km of mineralized trend
provide excellent resource expansion potential.
To be included in the Zephyr email database for Company updates
please contact info@zephyrminerals.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. The forward-looking statements contained in this
document are based on certain key expectations and assumptions made
by the Company, including, with respect to the use of funds from
the private placement, expectations and assumptions concerning
timing of receipt of required regulatory approvals and third party
consents and the satisfaction of other conditions to the completion
of the exploration work on the Dawson-Green Mountain Property. The
forward-looking statements contained in this document are made as
of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities
laws.
SOURCE Zephyr Minerals Ltd.