Trading Symbol: TSX-V: ZFR OTC: ZPHYF
Shares Outstanding: 37,982,620
HALIFAX, Jan. 30, 2018 /CNW/ - Zephyr Minerals Ltd. ("Zephyr" or the "Company") (TSXV: ZFR) (OTC: ZPHYF) is pleased to announce the staking of 10 additional claims on the eastern boundary of the Dawson property. These new claims cover an area directly east of the Sentinel Zone and expands the property to a length of 4.2 km (2.6 miles). Geological mapping, trenching, sampling and geophysics have demonstrated the Dawson Shear Structure continues easterly into the Sentinel Zone and remains open in this direction. This new staking expands the potential length of the Sentinel Zone to 1500 m (5,000 feet). This area is highly prospective and has never been drilled. By comparison, the current length of the Dawson Zone which is host to the current gold resource (See news release No. 02-17), is approximately 500 meters (1,600 feet) in length. As such, gold discovery in this newly staked area could be a transformative event significantly boosting the gold potential of the Dawson property.
Results from the newly excavated trenches demonstrate that the hanging wall copper gold zone is present at Sentinel. Trenching and geological mapping has also confirmed the presence of a thick (20 to 25 m) interval of the favourable biotite aplite unit which is the principal gold host at the Dawson Zone. Importantly, the biotite aplite at Dawson is characterized by a very distinctive magnetic low signature. This same signature is present over the biotite aplite at Sentinel and remains open to the east.
Trench one has well developed mineralization with 13.7 m at 0.9 g/t gold and 0.25% copper, including 8.3 m at 1.2 g/t gold and 0.28% copper. Trenches 2 to 4 have anomalous copper and gold in the hanging wall zone. Trench 5 encountered a thick section of overburden and did not reach bed rock. Surface exploration results at Sentinel are very similar to the Dawson Zone located directly and contiguous to the east where the copper zone near surface varies from well-developed to anomalous. It is noteworthy that the Dawson Zone which is characterized by an average cut grade of 10.5 g/t gold (5 g/t cutoff and 40 g/t topcut) and average widths of 3.5 to 4 m and many intercepts over 10 m was a blind discovery starting at about 100 m (330 feet) below surface.
Loren Komperdo, President & CEO stated: "The Sentinel Zone geology and magnetics point to a potential tripling in length of the high grade gold resource located directly to the west in the Dawson Zone. Combined with the gold potential of the Dawson Shear Zone in the western regions of the claims and at depth, I believe the Dawson Property has the attributes consistent with the plus one million ounce potential typical of mesothermal, shear zone hosted gold deposits."
Three new trenches were excavated at the more geologically complex Windy Point Zone in the western area of the Dawson property to provide a better understanding of the geology prior to commencing a follow up drill program on significant results obtained in a reconnaissance drill program undertaken by UUS Ltd. in 1990 (See news release No. 02-16). All three trenches were anomalous in gold and copper with the best results were 4.1 g/t over 0.9 m and 0.55% copper over 0.9 m.
Zephyr Minerals Channel Sampling Protocols
Standard sampling procedures were followed whereby 3 foot channel samples were chipped from trench walls using a rock pick and collected in 8 mil polyethylene bags. Sample bags were closed using plastic cable ties. The sample weight delivered to the laboratory varied from 2.0 to 3.0 kg. An analytical standard, replicate or blank was inserted at 10 sample intervals. The samples were shipped in sealed 5 gal. plastic buckets by Fedex Ltd., Canon City, CO to a Bureau Veritas holding facility in Blaine, WS and then to their laboratory in Vancouver, BC.
All samples were prepared by the Bureau Veritas PRP70-1KG method. Samples were analyzed using their FA430 fire assay for gold followed by the FA652-1KG method of screen metallic for all samples that previously assayed over 2 ppm. The samples were also analyzed by the 59 multi-element MA250 method. General details of these analytical procedures can be found on the Bureau Veritas website.
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. is a gold exploration and development company focused on advancing its flagship Dawson Gold Project in Colorado, USA. After completing a positive PEA, Zephyr is continuing to advance the project though permitting, additional exploration as well as further engineering work. The Company's objective is to expand resources and obtain a mining permit to support a potential production decision.
Mr. Mark Graves, P.Geo. registered with the Association of Professional Geoscientists of Nova Scotia (APGNS), has prepared the scientific and technical information in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains forward-looking statements.
The forward-looking statements contained in this document are based on certain key expectations and assumptions made by the Company, including, with respect to the use of funds from private placements, expectations and assumptions concerning timing of receipt of required regulatory approvals and third party consents and the satisfaction of other conditions to the completion of the exploration work on the Dawson Gold Property.
The forward-looking statements contained in this document are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Zephyr Minerals Ltd.
For further information: David H. Felderhof, Executive VP & Director Or Sean Tufford, VP, Corporate Development, Zephyr Minerals Ltd., T: 902 446-4189, F: 866 941-4715