April 12, 2021 TSXV:ZON
Zonte Metals ispleased to provide the following update on the discovery of a large magneticairborne anomaly on its Cross Hills Property.
Systematic field checking ofanomalies identified from a 2020 high-resolution airborne magnetic survey hasresulted in the discovery of a new target containing copper mineralization. Thetarget, called K9, sits 1.5km south of the K8 target and is the eighth anomalydiscovered on the Cross Hills Project that shows iron oxide alterationassociated with known surface copper mineralization.
The K9 target has been delineatedover a 400m strike length. A number of samples collected along the 400m strikelength contained local disseminations and veinlets of chalcopyrite, chalcociteand bornite. One sample returned 1.76% Cu, 12.4g/t Ag and trace gold. Two other samples along strike returned 0.63% and 0.11%copper, with a number of weakly mineralized areas showing disseminated pyriteand chalcopyrite in the target area. Mineralization is associated with hematiteand magnetite with the strongest mineralized sample showing copper associatedwith a later hematitic phase. The Company will continue to explore this areaand move the target along to drill stage, if warranted.
A large-scale MMI soil samplingprogram was completed in the late fall of 2020. The MMI soil program hasidentified numerous areas that require infill sampling especially along theperiphery of the Big K, K6 and Nine Mile targets. Additionally, an initial MMIsampling will be carried out on the newly discovered North Dunns and K9targets. More information on the target areas can be found athttp://zontemetals.com
The Company is also pleased toannounce it has applied for exploration permits for the upcoming explorationseason in the Yukon Territory on its MJ project. The focus area of the program will be alongthe western border of the property, adjacent to Victoria Gold’s Dublin Gulchproject where Victoria has made a significant discovery at its Raven target. Inaddition, Zonte will carry out exploration on the Company’s 2-4 target area,where it discovered gold mineralization in drilling in 2017. The Company willprovide further details once permits have been received and plans formalized. Moreinformation on the MJ Project can be found at https://www.zontemetals.com/projects/mj-project
DeanFraser, P.Geo. is the qualified person as defined by NI 43-101 and has reviewedand approved the contents and technical disclosures in this press release.
Rock and SoilSampling Protocol
All sampled were collected in a careful anddiligent manner. Rock samples were shipped to Eastern Analytical in Springdale,NL under chain of custody. QA/QCincluded the systematic insertion of certified standards and blanks. Sampleswere analyzed for the ICP-34 package (34 element 4 acid leach, ICP-OES finish)and the Fire Assay (30g) with AA finish. Eastern Analytical also provides itsown internal QA/QC protocol of blanks, duplicates and standards in each workorder, which is supplied to Zonte with the rock sample analysis. MMI were shippedto SGS Laboratories, which is an independent and accredited full-servicecommercial laboratory accredited to ISO/IEC 17025.
ZonteMetals Inc. is a junior explorer focused on gold and copper. The Company owns100% of the MJ project located in the Yukon Territory, the Wings Point projectin the new Central Newfoundland Gold Belt, and has an option to earn 100% inthe Cross Hills IOCG project located in Newfoundland. In Colombia the companyhas a 25% carried interest in Project X where historic drilling interestedsignificant gold mineralization; and the Company and partner have anapplication over open areas sitting on top of the open pit outline of theGramalote Deposit in Colombia, which is held by AngloGold Ashanti (NYSE:AU) andB2Gold (TSX:BTO, NYSE:BTG). The title issuance is being contested by the stategoverning the application and the Company has started legal action to protectits rights.
This newsrelease contains forward-looking statements which include statements regardingthe Corporation’s future plans, as well as statements regarding financial andbusiness prospects and the Corporation’s future plans, objectives or economicperformance and financial outlooks. The Corporation believes that theexpectations reflected in this news release are reasonable but actual resultsmay be affected by a variety of variables and may be materially different fromthe results or events predicted in the forward-looking statements. Readers aretherefore cautioned not to place undue reliance on these forward-lookingstatements. In evaluating forward-looking statements readers should considerthe risk factors which could cause actual results or events to differmaterially from those indicated by such forward-looking statements. These forward-lookingstatements are made as of the date hereof, and unless otherwise required byapplicable securities laws, the Corporation does not intend nor does itundertake any obligation to update or revise any forward-looking statements. Neitherthe TSX Venture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) accepts responsibility forthe 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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