HALIFAX, Feb. 21, 2017 /CNW/ - Zonte Metals Inc. is pleased to provide an update on the Consejo de Estado ("Special Court") proceedings regarding its' application over the Gramalote application.
As announced in May 2016, Zonte and a Colombian partner, (collectively "Zonte" or the "Company") initiated legal action against the Secretaria de Minas (Secretary of Mines) for the Department of Antioquia, Colombia, as well the Agencia Nacional de Mineria (National Mining Agency) for not complying with the Mining Code in titling an exploration application submitted by Zonte in July 2013. Zonte's application covers open areas between titles on top of the permitted Gramalote Gold deposit which is a joint venture between AngloGold Ashanti (NYSE: AU) and B2Gold (TSX: BTO, NYSE: BTG).
The Special Court had three options available to respond to the Company's submission of documents which included accepting the case as presented; accepting the case with modification; or rejecting the case totally. The Company is pleased to report that the Special Court has accepted the case as presented and that the case will now officially proceed through the court process. The Company will provide additional information as it becomes available.
For more information regarding the Gramalote application including a map illustrating the open areas between titles and the legal initiatives – please visit the company's webpage at www.zontemetals.com
Zonte Metals Inc. is a junior explorer focused on gold and copper. The Company has signed an Option Agreement to acquire 100% of the McConnells Jest project, in the Tintina Gold Belt, located in the Yukon Territory, which is composed of 172 claims totaling approximately 3371 hectares, and holds the drill ready Wings Point Gold Project located in Newfoundland and Labrador. In addition, the Company and a Colombian 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.
SOURCE Zonte Metals Inc.
For further information: Terry Christopher, CEO and President, 902-405-3520, [email protected], www.zontemetals.com