Zonte Extends Mineralization at Wings Point and Plans Phase 1 Drill Program
HALIFAX, March 18, 2014 /CNW/ - Zonte Metals Inc (TSXV: ZON) ("Zonte" or the "Company") is pleased to provide the following update on the Wings Point Gold Project located approximately 30 kilometres north of Gander, Newfoundland. Zonte is exploring the property for sediment hosted bulk tonnage gold mineralization, an interpretation model which has not previously been tested in this area known to host narrow high-grade gold structures. Zonte's recent activity has included the review and compilation of existing data and extension of the zone of known gold mineralization, approximately 130 metres to the northeast, with a rock sample assaying 1.02 grams of gold per tonne (g/t Au.)
The Wings Point Gold Project is host to three un-drilled parallel targets which were identified from rock and soil sampling and an induced polarization ("IP") geophysical survey. Bedrock surface mineralization, which is partially exposed in a working gravel pit, is characterized by disseminated arsenopyrite and pyrite hosted in shales, siltstones and sandstones. The IP pseudosections show two large chargeability and resistivity anomalies, coincident with gold in bedrock samples, having dimensions of up to 1200 metres long by 75-150 metres wide and 600-700 metres long by 100 metres wide, named the Western and Eastern Anomalies, respectively. Both zones have been observed in the IP pseudosections to 75 metres depth. One IP line was run to 150 metres depth penetration and both targets are observed to the extended 150 metres penetration and remain open to depth on that particular line. A third anomaly, named the Arsenic-in-soil Anomaly was identified by high arsenic-in soil("As-in-soil") assays, is coincident with gold in rock samples and a large resistivity anomaly.
A recently assayed rock sample, taken along the forest access road, appears to extend the zone of known gold mineralization to the northeast beyond the geophysical grid. The sample, which assayed 1.02 g/t Au, was taken about 130 metres beyond the northern end of the geophysical grid, where an excavator, completing maintenance along the access road, exposed a zone of bedrock mineralization. This sample is along strike from the As-in-soil Anomaly and believed to represent the extension of this anomaly. Based on the nature and character of the mineralization and the possibility the As-in-soil and Eastern Anomalies have the similar resistivity signature these anomalies could be one larger target versus two individual targets. A map showing the project, anomalies and sampling can be viewed at http://www.zontemetals.com/projects/wings-point/.
The Company has identified multiple drill targets on the Wings Point Project and is preparing to complete a Phase I drill program to test the anomalies in the subsurface. Drilling proposals have been requested from a number of drill contractors in anticipation of a spring drill program. Also, based on the recent review and compilation, the Company has decided to drop the Wings Point South Option to focus on the main Wings Point North targets as well as opportunities in Colombia, where the Company continues to review, negotiate and pursue various acquisition initiatives.
The technical information contained in this press release has been verified and approved by Dean Fraser, P. Geo., a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral projects of the Canadian securities administrators
Zonte Metals Inc. is a junior explorer focused on gold and copper. The Corporation is actively reviewing and completing field due diligence on projects in South America.
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.
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