TSXV – ZON
HALIFAX, June 12, 2017 /CNW/ - Zonte Metals Inc. (TSXV: ZON) (the "Company" or "Zonte") is pleased to announce it has discovered a new target at the McConnells Jest Project. The new discovery, called the Hill Zone, was identified by gold in bedrock assays. Highlights include:
- Individual assays up to 31.3 g/t Au
- An approximate target size of 400 by 400 metres (m)
- The Hill Zone is located just 150 m from the Two-Four Zone
- A drill-ready target for 2017
The Hill Zone was identified from bedrock vein sampling within a 60 m high hill that measures approximately 400 by 400 m. Rock sampling was aided by intermittent cliff exposures about half way up the hill side. A total of twelve quartz-arsenopyrite-scorodite veins were sampled and returned assays up to 31.3 g/t Au and included; five samples between 2 and 10 g/t and seven samples between 10 and 31.3 g/t Au. Mineralization was also observed in quartz veins, quartz micro veins and altered fracture zones within the granodiorite. Many of the quartz and micro quartz vein samples collected displayed heavy oxidation and in several samples partially oxidized sulphides were identified. Note that not all the veins observed were sampled during the 2017 program and that the rock samples are grab samples, which are not necessarily representative of mineralization hosted on the property.
The new Hill Zone sits along the southwestern shoulder of the pluton, as does the Two-Four Zone. In Intrusion Related Gold Systems (IRGS) the "shoulders" of elongate plutons are areas where mineralization is often concentrated. To date, very limited exploration has been carried out beyond the Hill and Two-Four Zones along the southwestern shoulder of the pluton. Although the Hill and Two-Four Zones are close spatially, their genetic relationship remains unclear due to a lack of outcrop between them.
A map of the Property, showing the Hill and Two Four Zone target areas can be obtained on the company's webpage at www.zontemetals.com.
Zonte CEO and President, Terry Christopher comments "The fact that the new Hill Zone was identified sitting so close the Two-Four Zone is an exciting discovery for the Company. The location of these targets on the shoulder of the pluton fits the classic mineralizing model for Intrusion Related Gold Systems. In light of the density of veining and high grades at the Hill Zone, this target will be drilled in the upcoming drilling program during July 2017."
Andy Randell, P.Geo. is the qualified person as defined by NI 43-101 and is responsible for the preparation of the Technical Report and the technical disclosures in this press release.
Rock Sampling Protocol
See June 9, 2017 for details on the sampling protocol.
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 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@example.com, www.zontemetals.com