February 6, 2024 TSXV: ZON
Zonte Metals is pleased to provide the following update on the Cross Hills Copper Project, located in Newfoundland and Labrador, Canada.
A project wide soil program was completed in 2023, with the primary goals of infilling known targets and exploring new areas. The recently completed soil program was conducted through a large valley that hosts the K6S and K7 gravity anomalies. This area sits adjacent and just south of the K6 Target, where a drill program was recently completed.
The soil data has identified a notable semi-circular copper-in-soil anomaly measuring 2400m in length and up to 800m in width. This area is mainly covered with overburden, however, during the sampling program a new copper showing was discovered in the K7 gravity anomaly area. This large soil anomaly coincides with three gravity anomalies including those at the K6S and K7 areas and an unnamed anomaly situated between them. Additionally, the soil anomaly coincides with a structural zone hosting the K7 gravity anomaly, which is intersected and truncated by a large structural corridor that hosts the K6S anomaly.
Two drill holes were completed in the K7 target in 2020, both from the same drill pad on the very SE portion of the target area. Both drill holes intersected IOCG mineralization including anomalous copper and rare earth mineralization. These drill holes, however, were completed prior to the additional exploration programs carried out over the last three years.
The Company also notes it has recently completed drilling on the K6 Target. The K6 Target area was previously drilled in 2019 with a limited dataset. Subsequent to these 2019 drill holes, the Company has carried three years of additional geological, geophysical and geochemical exploration. The just completed drill program, comprising of 1700m in seven drill holes, tested drill targets generated from analysis of the combined datasets. This new drilled area sits about 200-300m south of the 2019 drill holes. The cores have been logged, split and all samples have been submitted for analysis. Results will be reported when received and compiled.
A map illustrating the new large soil anomaly over the K6S-K7 area is illustrated below. Additional maps illustrating the targets throughout the project can be found at the following link https://www.zontemetals.com/projects/cross-hills-copper-property.
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.
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.
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.
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A mineral exploration company with an attractive capital structure and solid management.
Zonte is focusing on three Canadian projects; one copper and two gold projects. Drilling on the copper and one gold project has identified two discoveries.
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