June 6, 2023 TSXV: ZON
Zonte Metals is pleased to announce the discovery of two large gravity anomalies at the K10 target, on its Cross Hills Copper project in Newfoundland, each anomaly spatially coincident with copper mineralization.
Terry Christopher, President and CEO comments, “The K10 area comprises of the previously discovered K10S and K10N targets. These targets are defined by copper in bedrock, coincident Cu-in-soil anomalies sitting in significant alteration zones. The recent gravity survey was completed over the large K10 area and has resulted in the discovered of two large residual gravity anomalies, one at each the K10S and K10N targets. These gravity anomalies measure 1300 by 400m and 1800 by 500m for K10N and K10S, respectively. The K10N anomaly is potentially open along strike at both ends, while the K10S residual gravity signature is the strongest discovered on the project to date. These targets will be further advanced to drill stage with the completion of detailed geochemical surveys and a magnetic survey. With these targets Zonte now has six targets that are near or at the drill stage.”
The two residual gravity anomalies discovered at the K10 target are coincident with the previously discovered copper-in-bedrock and copper-in-soil anomalies. The K10 target area has only been partially covered with ground magnetic surveys, however, where completed the K10N is coincident with magnetic highs while the K10S target is coincident with a change in the magnetic signature, where the signature changes from strong to moderate. This magnetic signature change may be related to magnetic destruction caused by hydrothermal alteration that could signify sulphide precipitation. Images of the K10 residual gravity anomalies can be found below and at the Company’s webpage where a more detailed project presentation is posted https://www.zontemetals.com/projects/cross-hills-copper-property
The K10 anomalies are located within a larger 4 by 6 km area that hosts numerous targets including K6, K6S, K7, K8 and K9 targets. The Company is continuing to advance these targets as it works to better define the newly discovered K6S target for drilling. Results dependent, both K6 and K6S will be drilled in the same upcoming drill program. The K6 drill permit is in hand. Sampling over the new K6S target is completed and the Company is awaiting results.
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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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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