. TSXV: ZON
HALIFAX, NS, Jan. 26, 2022
/CNW/ - Zonte Metals is pleased to provide the following update on
the Cross Hills Iron Oxide Copper-Gold Project, located in
Newfoundland and Labrador, Canada.
The Company has discovered three zones of surface copper
mineralization sitting within a 1600 by 1100m area, collectively designated as the K10
target. The mineralized areas measure 800 x 400m, 500 x 300m
and a third zone with a 250m strike
length. Mineralization is open in a number of directions on each
target. This new area sits just several hundred metres to the
northwest of the K9 target and west of the K8 target.
Mineralization in the new K10 target is characterized as mainly
copper indications and showings throughout each of the three
mineralized zones. Chalcopyrite is the main copper mineral with
lesser amounts of native copper. The mineralized zones are
characterized by a central core containing chalcopyrite and pyrite
with a pyrite halo on the periphery. Samples for which assays has
been received to date show values from anomalous up to 1289 ppm Cu.
The Company has also completed several reconnaissance soil lines
through the target area with laboratory results pending.
The K10 target area has only been partially covered with
previously completed magnetic surveys. The Company is preparing to
extend coverage over K10 with additional magnetic and gravity
surveys. With the new discovery at K10 the Company now has nine
targets throughout the Cross Hills Project with targets ranging
from drill ready to newly discovered. A map showing the K10 target
can be found at
https://www.zontemetals.com/projects/cross-hills-copper-property
Terry Christopher, President and
CEO states "The K10 mineral system is mainly wide spaced
disseminations of copper mineralization throughout the whole
target. This sets itself apart from other targets at Cross Hills,
where mineralization has been documented along discrete structures,
fracture sets or isolated zones within the target. This feature and
the spatial relationship with K8 and K9, where all three targets
sit in a 3 by 2 km area, make it a priority area for further
exploration. This will include additional geophysical and
geochemical surveys which are in the process of being planned and
arranged."
Qualified Person
Donald Blake, 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.
About Zonte
Zonte Metals Inc. is a junior explorer focused on gold and copper.
The Company owns 100% of the McConnells Jest project, in the
Tintina Gold Belt, located in the Yukon
Territory, the Wings Point
project in the new Central Newfoundland Gold Belt, and the Cross
Hills IOCG project located in Newfoundland and Labrador. In Colombia; the company has a 25% carried
interest in Project X where historic drilling intersected
significant gold mineralization and 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.
SOURCE Zonte Metals Inc.