November 16, 2023 TSXV: ZON
Zonte Metals Inc (TSXV: ZON) (“Zonte” or the “Company”) is pleased to announce it has commenced drilling at the K6 target on its Cross Hill Copper Project, in Newfoundland and Labrador.
Terry Christopher, President and CEO comments, “After three years of additional exploration, the Company has resumed drilling at the Cross Hills Copper Project. The initial two years of exploration and drilling focused on magnetic and gravity geophysical highs. The revised exploration program over the last three years was designed to better identify geological, geophysical and geochemical signatures that could represent sites where copper mineralization is present. K6, which is the smallest known target, is one of the 11 targets the Company has discovered throughout the Cross Hills Copper project and a discovery on any one of these targets could point to a new copper belt in Canada.”
Zonte acquired the Cross Hills Copper Project in late 2017 based on the strong hydrothermal system present within the project. Known copper mineralization at the time was limited to several copper showings. The Company’s initial two years of exploration was focused on exploring and drilling geophysical highs. Copper was discovered throughout the drilling programs with some of the better drill intersected mineralization sitting peripheral to the geophysical anomalies. As an example, CH-19-04, intersected a number of isolated copper zones, including a narrow high-grade interval of 14% Cu over 0.43m, while other drill holes returned low grades of mixed disseminated sulphides containing copper and spaced fractured-controlled copper mineralization over long intervals (see press releases dated April 23, 2019, March 3, 2020 and November 24, 2020).
With the success of the initial drilling, which was based on limited exploration, the Company recognized a fertile copper system that required additional examination. The last three years of surface exploration have provided a comprehensive dataset that will be used to assist in testing the 11 known targets. The drilling will be targeting locations where multiple overlapping datasets indicate possible sites where copper mineralization might occur, with the K6 being the first target to be tested.
A map of the K6 target and additional information about the Cross Hills Copper project is found at the Company’s website via 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 MJ 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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CEO and President
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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