HALIFAX, April 8, 2019 /CNW/ - The company is pleased to announce it has completed a Phase 1 drill program on the Cross Hills Iron Oxide Copper Gold project by performing a first pass evaluation of the large Dunns Mountain IOCG target. The program consisted of five holes totaling 1421 metres, which was an increase from the initial four-hole, 1000 metre program. The initial drill program was designed to test various geophysical and geochemical variables in the data set associated with known surface mineralization. All samples have been submitted to the laboratory for analysis and results will be reported once received.
In anticipation of Phase 2 drilling at the Dunns Mountain target, the company has submitted exploration permit applications to the Newfoundland and Labrador Department of Natural Resources for additional geophysical surveys, which will be carried out prior to the next phase of drilling. Work will commence immediately upon permit approvals.
Dean Fraser, P.Geo. is the qualified person as defined by NI 43-101 and has reviewed and approved the contents and technical disclosures in this press release.
Zonte Metals Inc. is a junior explorer focused on gold and copper. The Company has signed Option Agreements to acquire 100% of the McConnells Jest project in the Yukon Territory and the Cross Hills IOCG project located in Newfoundland and Labrador; and holds a 100% interest in the drill ready Wings Point Gold Project. In addition, the Company and partner have an application over open areas sitting over 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, financial and business prospects and 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]