July 28, 2023 TSXV: ZON
Zonte Metals (ZON-TSXV) is pleased to announce the discovery of a new gravity anomaly on its Cross Hills Copper project in Newfoundland and Labrador. The new target, called K1, measures up to 2km and is coincident with bedrock copper mineralization.
Terry Christopher, President and CEO commented “Zonte has defined a series of signatures from known targets within the Cross Hill Copper Project. This data has been applied to other areas within the project, which has resulted in the discovery of the new K1 target. A recent gravity survey over the K1 area discovered a large anomaly measuring 2km in length and up to 600m wide. Recent field reconnaissance has confirmed the presence of copper mineralization on the eastern side of the gravity anomaly, with the western portions of the anomaly mainly under cover. The Company will complete a number of additional exploration programs over the K1 area to provide further understanding of the target.”
The new K1 target is large, measuring just over 2km, and is coincident with iron oxide, calcic and sodic alteration, along with copper indications in bedrock. At this point the company has completed a structural analysis of the area, and first pass alteration mapping and prospecting. Further exploration programs are already in progress, with a field crew actively working on the new target. See image below and for more information on the target and the Cross Hills Copper Project please visit https://www.zontemetals.com/projects/cross-hills-copper-property
Donald Blake, P.Geo. is the qualified person as defined by NI 43-101, SEC 3.1 and has reviewed and approved the contents and technical disclosures in this press release.
Figure 1. The newly discovered K1 residual gravity anomaly with copper in rocks.
Figure 2. 3D modelled K1 gravity anomaly.
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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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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