TSXV – ZON
HALIFAX, June 9, 2017 /CNW/ - Zonte Metals Inc. (TSXV: ZON) (the "Company" or "Zonte") is pleased to announce the first results from its 2017 McConnell's Jest exploration program which includes outcrop sampling in the Two-Four Zone; one of five previously identified targets zones of mineralization at Zonte's McConnells Jest Property in the Yukon Territory. Highlights include:
- Extensive quartz-arsenopyrite-scorodite vein system with high frequencies throughout the target area
- An approximate target size of 350 by 250 metres (m) and open in two directions
- Individual grab sample assay values up to 20.6 grams per tonne (g/t) Au
- A drill-ready target for 2017
The Two-Four Zone was initially discovered in 2016 in a 10 m exposed cliff face where quartz-arsenopyrite-scorodite veins were concentrated at frequencies of up to one vein per metre, which is considered high for Intrusion Related Gold Systems (IRGS). Initial gold assay values from the discovery zone where up to 41.9 g/t Au and included 41.9, 33.0, 9.8, 8.0, 4.2, 0.34, 5.7 and 0.25 g/t Au. The presence of gold in the Two-Four Zone was not limited to quartz-scorodite veins, as gold was also hosted by quartz veins and altered granodiorite zones returning 33.0 g/t from the altered zone sampled.
The 2017 program at the Two-Four target focused on sampling outward from the 2016 discovery showing. The 2017 sampling program identified a target area of 350 by 250 m, which remains open in two directions. Gold assays returned values up to 20.6 g/t Au and included 17 samples ranging 5-20.6 g/t, 12 sampling ranging 1-5 g/t, 4 samples ranging 0.25-1 g/t and 15 samples ranging 0-0.25 g/t Au. As with the discovery outcrop of the Two-Four Zone, quartz-arsenopyrite-scorodite veins were present in higher than normal frequencies for IRGS-type deposits. Sampling was aided by a series of 5 to 10 m cliff faces providing intermittent bedrock exposure throughout the target area. Note that not all the veins observed were sampled during the 2016 and 2017 programs and the rock samples are grab samples and not necessarily representative of mineralization hosted on the property.
In IRGS, quartz-arsenopyrite-scorodite veins represent the main Au-mineralizing event and typically represent areas of higher-grades. In a model IRGS, these veins have a lateral spacing of one vein per 30-40 m. These veins utilise a pre-existing network of sheeted quartz veins and fractures to disseminate gold in a low-grade bulk tonnage halo around high-grade veins. Even with intermittent bedrock exposure at the Two-Four Target, quartz-arsenopyrite-scorodite vein frequencies are as high as one vein per metre indicating an extremely prospective area for gold mineralization. In addition, surface sampling at the Two-Four Target also identified gold mineralization in a series of parallel quartz veins, quartz micro veins and altered fracture zones within the granodiorite. The presence of gold in these vein and mineralization types provides supporting evidence for the genetic model described above and further indicates the exploration potential of the Two-Four Target.
A map of Property and Two Four Zone target area can be obtained on the company's webpage at www.zontemetals.com.
Upcoming Summer Program
Based on the analytical results of the 2017 rock sampling program, which verified the 2016 discovery assay data, the Two-Four Zone is believed to represent a high-priority target area for drilling. The Company is presently in discussions with drill companies to drill the Two-Four Zone in July 2017.
The Company is also pleased to announce it has engaged APEX Geoscience Ltd to provide ongoing geological consulting for the McConnells Jest Project. APEX has extensive experience in the mineral resource sector, providing services including project management and staffing, geophysical surveys/processing, 3-D modelling and interpretation, and reporting. Initially, APEX will provide the services of Fraser Kirk, MSc. Fraser has a detailed understanding of the genesis of IRGS having completed a Masters Degree studying the evolution of hydrothermal mineralization at Victoria Gold's Dublin Gulch project, which represents an IRGS deposit that is located approximately 20 km east of the Two Four Zone.
Fraser comments "Last year I visited the McConnells Jest project and defined targets at that time. The Two Four target shows anomalously high frequencies of quartz-arsenopyrite-scorodite veins in an IRGS. With the discovery of an increased extent of the Two Four target and the presence of several additional gold targets on the property, I'm pleased to participate in unlocking the potential at the McConnells Jest Project."
Christopher comments "This year's sampling program has been aggressive and as a result has covered a considerable areal extent in just the first month. Defining the Two-Four Target has expedited our exploration plans and as a result we have engaged APEX who has provided Fraser Kirk to assist the company moving this project forward. Exploration will continue throughout the project while the company moves also into the drill stage. The Two-Four Target is now drill ready and Zonte is aiming to have a drill on this target in July."
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
All 2016-2017 rock samples were carried out in a careful and diligent manner using scientifically established sampling practices designed and tested to ensure that the results are representative and reliable. QA/QC includes the random insertion of blanks and duplicate samples in each sample batch. Samples are described, photographed, tagged and sealed prior to being aggregated into rice bags and submitted by Zonte personnel or a third party expeditor to ALS Global mineral preparation facility in Whitehorse, YT with the chemical analysis completed in Vancouver, BC. ALS Global is an independent, reputable and accredited full-service commercial laboratory accredited to ISO/IEC 17025:2005. ALS Global also provides its own internal QA/QC protocol of blanks, duplicates and standards in each work order, which is supplied to the Zonte with the rock sample analysis.
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 protected], www.zontemetals.com