January 26, 2022 TSXV:ZON
Zonte Metals ispleased to provide the following update on the Cross Hills Iron Oxide Copper -Gold Project, located in Newfoundland and Labrador, Canada.
The Company has discovered three zones of surface copper mineralization sitting within a 1600 by 1100m area, collectively designated as the K10 target. The mineralized areas measure 800 x400m, 500 x 300m and a third zone with a 250m strike length. Mineralization is open in a number of directions on each target. This new area sits just several hundred metres to the northwest of the K9 target and west of the K8 target.
Mineralization in the new K10 target is characterized as mainly copper indications and showings throughout each of the three mineralized zones. Chalcopyrite is the main copper mineral with lesser amounts of native copper. The mineralized zones are characterized by a central core containing chalcopyrite and pyrite with a pyrite halo on the periphery. Samples for which assays has been received to date show values from anomalous up to 1289 ppm Cu. The Company has also completed several reconnaissance soil lines through the target area with laboratory results pending.
The K10target area has only been partially covered with previously completed magnetic surveys. The Company is preparing to extend coverage over K10 with additional magnetic and gravity surveys. With the new discovery at K10 the Company now has nine targets throughout the Cross Hills Project with targets ranging from drill ready to newly discovered. A map showing the K10 target can be found at https://www.zontemetals.com/projects/cross-hills-copper-property (Inserted below.)
Terry Christopher, President and CEO states “The K10 mineral system is mainly wide spaced disseminations of copper mineralization throughout the whole target. This sets itself apart from other targets at Cross Hills, where mineralization has been documented along discrete structures, fracture sets or isolated zones within the target. This feature and the spatial relationship with K8 and K9,where all three targets sit in a 3 by 2 km area, make it a priority area for further exploration. This will include additional geophysical and geochemical surveys which are in the process of being planned and arranged.”
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 owns100% 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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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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