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Thu. 23 Sep 2021, 5:00pm ETBenzinga
In: Press Releases

HALIFAX, NS, Sept. 23, 2021 /CNW/ - (TSXV:ZON) Zonte Metals is pleased to announce the discovery of a large soil geochemical anomaly coincident with the K9 target on its Cross Hills IOCG project.

The K9 target sits 1.5km south of the K8 target and was discovered by ground checking anomalies identified from a high-resolution airborne magnetic survey. Ground checking discovered classic iron oxide alteration with surface copper mineralization. Bedrock copper mineralization has been discovered throughout the target area with the best sample returning 1.76% Cu, 12.4 g/t Ag and trace gold (see April 12, 2021 press release). Mineralization is characterized by bornite, chalcopyrite and chalcocite associated with pyrite, hematite and magnetite.

A soil sampling program was carried out over the K9 area to further define the target limits. The soil data illustrates a large strong copper-in-soil anomaly coincident with the airborne magnetic anomaly, bedrock alteration and mineralization. To date, a total of 966 soil samples have been collected throughout the Cross Hills Property with the K9 target recording 25% of the strongest copper-in-soil values. The target, including the magnetic signature and soil anomaly, sits in a structural zone that was identified from a satellite imagery structural analysis of the Cross Hill Property. To further define the target for drilling the company will complete an Induced Polarization survey over the area.

To date, Zonte has identified eight targets along the Cross Hills structural zone. Presently, the Company is working towards identifying drill sites at the Big K, Nine Mile, K6 and K9 targets. This will be accomplished with completing additional Induced Polarization (IP) surveys over each. The remaining targets will be further explored to define additional drillable areas, if warranted. These include;

1. Dunns Mountain where drilling has intersected both high-grade copper, gold and silver values over narrow intervals and anomalous copper values over long intervals. Further work will be carried to the north and south of the previously drilled area.

2. K7 target where untested copper in soils sit above coincident gravity and magnetic anomalies.

3. K8 target where additional work is required to ascertain if drilling is warranted, and

4. North Dunns, where a wide spaced soil program identified anomalous copper that requires infill sampling.

The Cross Hills Property is an IOCG system covering 25km along the Cross Hills Fault structural zone. The Company has been systematically exploring along the structural zone identifying targets of interest. Numerous areas throughout the project remain to be explored. Maps and additional information on the target areas can be found at https://www.zontemetals.com/projects/cross-hills-copper-property

Terry Christopher, President and CEO states "A steady systematic exploration program has outlined eight targets at Cross Hills to date, with more ground yet to be explored. An Induced Polarization survey will define drill locations on a number of the targets, while further definition work continues on the remaining targets. Ground checking is also continuing with the aim of locating other targets of interest, in particular in and around the known targets at this time."

Qualified Person

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.

Soil Sampling Protocol

MMI soil samples were collected in a careful and diligent manner. Samples are tagged and sealed prior to being shipped by SGS Laboratories, which is an independent and accredited full-service commercial laboratory accredited to ISO/IEC 17025.

About Zonte

Zonte Metals Inc. is a junior explorer focused on gold and copper. The Company owns 100% of the McConnells Jest project, in the Tintina Gold Belt, in the Yukon Territory and the drill ready Wings Point Gold Project in Newfoundland. It also has an option to acquire 100% of the Cross Hills IOCG project in Newfoundland.  In addition, the Company and partner have an application over open areas sitting on top of the open pit outline 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.

Forward-Looking Information

This news release contains forward-looking statements which include statements regarding the Corporation's future plans, statements regarding financial and business prospects and the Corporation's future plans, objectives and financial outlooks. The Corporation believes 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 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.

View original content: http://www.newswire.ca/en/releases/archive/September2021/23/c3156.html