BEDFORD, NS, June 25, 2012 /CNW/ - Zonte Metals Inc (TSXV: ZON) (the
"Corporation" or "Zonte") is pleased to provide an update on the Wings
Point project. A National Instrument 43-101 Report has been filed and
accepted by the Toronto Venture Stock Exchange.
The Report is entitled "Technical Report on the Wings Point Property,
Newfoundland, Canada, Licence 016270M", and was completed by D.R.
Duncan & Associates Ltd ("DRDAL"). The purpose of the report was to
review the results of the historical and Zonte's exploration work up to
this point, confirm the project is of significant merit and provide
recommendations for a Phase II program. The report will be filed on
SEDAR within the next 45 days.
The Wings Point Project is located about 35 kilometres north of Gander,
Newfoundland and Labrador, and accessible by paved and dirt roads. The
NI 43-101 report was completed on the main target area within the Wings
Point project and covers 30 claims totaling 750 hectares, and is part
of the larger project collectively called the Wings Point Project.
Zonte has completed Phase I of exploration over the main target area,
called the Pit Target. The program consisted of rock grab sampling,
soil sampling including conventional and mobile metal ion media,
induced polarization (IP) and magnetic geophysical surveys and
trenching. The work confirmed the presence of gold mineralization that
has been known in the sheared and altered sediments since the late
Gold mineralization is exposed in an operating gravel pit and appears to
strike with the local geology. Mineralization can been seen in two main
areas, being parallel and exposed intermittently throughout the gravel
pit area. The mineralization identified on the property to date is
characterized as being associated with disseminated pyrite and
arsenopyrite in altered shales, siltstones and greywacke. The primary
alteration associated with gold mineralization includes carbonate,
sericite and silicification.
The IP survey identified two large geophysical anomalies coincident with
known gold in bedrock gold mineralization, named the Eastern and
Western Geophysical Anomalies. The Western Geophysical Anomaly
signature is 1200 metres in length and up to 150 metres wide and the
Eastern Geophysical Anomaly is 600 - 700 metres in length and 70 - 100
metres wide. Based on the geophysical profiles both anomalies are near
surface with Eastern Geophysical Anomaly siting between 25 to 30 metres
below the surface, while the Western Geophysical Anomaly subcrops. An
arsenic-in-soil anomaly with a length of 600 metres and a width about
100 metres sits on the shoulder and is adjacent to the Eastern
Geophysical Anomaly. Gold-in-rocks, where mineralized, has been
identified coincident with all three anomalies and ranges from 0.25 to
The exploration model the Corporation is working with based on the
interpreted data thus far is; gold mineralization exposed at surface is
a result of mineralizing fluids migrating up from below, along zones of
higher porosity, with the main target in the subsurface possibly
associated with geophysical anomalies. The author of the NI 43-101
recommends the drill testing of these geophysical anomalies, after
additional geophysical surveying. The additional geophysics is
recommended to infill the present grid within the Pit Target area where
presently the line spacing is 200 metres. The necessary permits for the
geophysical program have been submitted and once all in hand, the
additional survey lines will be carried out. Zonte will provide and
update on the geophysical survey and the exploration plan through the
greater Wings Point project once the permits have been issued and the
program has started.
David R. Duncan, 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.
Zonte Metals Inc. is a junior explorer focused on gold. Our model is to
find projects with large scale potential and to that end the
Corporation is actively reviewing and completing field due diligence on
projects in the USA, Africa and 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
There can be no assurance that the exploration program will identify any
priority targets. The actual results and future events could differ
materially from those anticipated in this news release. The time frames
identified to work programs and other activities may vary significantly
from actual completion of the proposed work programs.
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
408 - 1550 Bedford Highway,
Tel: (902) 405-3520