BEDFORD, NS, March 4, 2013 /CNW/ - Zonte Metals Inc or the "Company" is
pleased to provide the following update.
During the fall of 2012, a 52 line kilometer induced polarization
geophysical survey was carried out on the Wings Point Gold Project,
located approximately 30 kilometers north of Gander, Newfoundland. The
survey was carried out over eight grids, seven of which were new target
areas selected based on a combination of historic and Zonte's sampling
results. At the eighth grid area, the Pit Target where the company has
previously identified coincident geophysical anomalies with coincident
rock and soil anomalies, a number of infill lines were completed.
Interpretation of the geophysical survey is in progress and the results
will be released when received.
The Company has amended the terms of the Wings Point South property
option agreement and will issue the vendors common stock, at a par
value of $0.075 per common share, in lieu of the $7,500 cash payment
due in March 2013.
The Company has been actively seeking additional projects for
acquisition over this past year and has actively reviewed projects in a
number of well-known gold districts. The Company has narrowed down its
focus area to Colombia and has been actively completing due diligence
on several projects of interest. The Company will provide additional
updates when and if property acquisitions are completed.
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
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.
SOURCE: ZONTE METALS INC.
For further information:
CEO and President