HALIFAX, June 26, 2017 /CNW/ - As press released on February 21, 2017, Zonte and a Colombian partner, (collectively Zonte or the Company) are proceeding with legal action against the Secretaria de Minas (Secretary of Mines) for the Department of Antioquia, Colombia for not titling an exploration application. This case is now at the Consejo de Estado ("Special Court") level and proceeding forward. The application in question sits over open areas between titles on top of the permitted Gramalote Gold deposit which is a joint venture between AngloGold Ashanti (NYSE: AU) and B2Gold (TSX: BTO, NYSE: BTG). Presently all documents have been filed at the Special Court by our Colombian partner and the Company is waiting for the outcome of this case.
The Company made the above noted application on July 2, 2013. Gramalote Colombia Limited (AngloGold Ashanti and B2Gold) also made an application (number QHQ-16081) over the area on or about August 26, 2015. In theory and according the mining code in Colombia, applications are processed on a first in first out basis. Despite this, the Secretary of Mines was processing Gramalote Colombia Limited's application even though Company's application was still active. Now that the case has been filed in Special Court, Gramalote Colombia Limited's application QHQ-16081 has been suspended by resolutions issued from the Consejo de Estado ("Special Court") and Gobernación del Departamento de Antioquia (Government of Antioquia) until the outcome of the Company's Special Court legal proceedings. Until the conclusion of the Company's case it is our understanding that no development can happen over the contested area.
The Company will provide additional information as it becomes available.
For more information regarding the Gramalote Deposit and the legal initiatives – please visit the company's webpage at www.zontemetals.com
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