 |
|||||||||
Dartmouth, Nova Scotia – November 26, 2024 – TheNewswire – Zonte Metals Inc (TSXV:ZON)(XOTC:EREPF) (“Zonte” or the “Company”) is pleased to announce the advancement of the K9 target to drill stage.
Highlights.
– Identification of a large gravity anomaly that is spatially associated with a magnetic anomaly, elevated copper-in- soils and rocks and is structurally controlled.
– The gravity anomaly measures 1250m by 875m and +750m depth.
The K9 target area is one of 12 target zones within the Cross Hills Copper Project. Recent drilling success at the K6 target has provided important insights into the copper mineralizing system that led to this discovery. Leveraging the knowledge gained from K6, the Company is advancing several nearby large targets south of K6 including K6S-K7, K8, K9, and K10, to drill-ready status, pending supporting data. The K6 discovery represents an Iron Sulphide Copper (ISC) variant within the Iron Oxide Copper Gold (IOCG) system, which typically are smaller than traditional large tonnage IOCG deposits. The targets south of K6 are large-scale IOCG prospects, each exhibiting significant gravity and/or magnetic anomalies coincident with geochemical and geological datasets.
The Company has now completed and compiled all the geochemical and geophysical data through the K9 target area. The re-processing of the geophysical data has identified a large gravity anomaly which is spatially coincident with a magnetic anomaly, copper-in-soils and rocks, sitting in a fault structure, with mapped IOCG alteration. This anomaly now deemed a high-priority target, measures 1275 metres in length, 875 metres in width and extends to depths exceeding 750 metres (see Figiure 1 and 2). To the east, the anomaly extends beyond the limits various surveys and may be open in that direction.
The K9 gravity anomaly sits about 75-100m below the surface and dips steeply to the east, as exhibited in Figure 1. In and around the anomaly, multiple copper showings and indications have been discovered in bedrock. Grab samples through the area range from anomalous to 1.76% Cu. Silver values in the grab samples range from trace up to 12 g/t with trace gold (see press release date April 21, 2021). Copper mineralization in the target area is composed of bornite, chalcocite and chalcopyrite. Surface alteration above the anomaly is strong, particularly in the area where the gravity anomaly is closest to the surface.
Click Image To View Full Size
Figure 1. Cross-section of gravity (red) and magnetic (blue) inversion models at the K9 anomaly.
Terry Christopher, President and CEO comments; “The identification of this very large gravity anomaly at K9, spatially associated with bedrock copper mineralization and elevated copper-in-soils, presents the Company with a significant large-scale drill prospect. The Company is also advancing the compilation and processing of data for the remaining targets south of K6. Pending soil data from the lab for these remaining target areas will be integrated with other datasets upon receipt, with results to be shared in an upcoming press release.”
Click Image To View Full Size
Figure 2. Plan view of K9 target illustrating residual Bouguer gravity overlain on magnetic and gravity inversion models.
Additional information on the project can be found at the following link https://www.zontemetals.com/projects/cross-hills-copper-property
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.
Donald Blake, PGeo, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the contents and technical disclosures in this press release. Mr. Blake is a non-independent consultant to Zonte Metals.
About Zonte
Zonte Metals Inc. is a junior explorer focused on gold and copper. The Company owns 100% of the MJ project, in the Tintina Gold Belt, located in the Yukon Territory, the Wings Point project in the new Central Newfoundland Gold Belt, and the Cross Hills Copper project located in Newfoundland and Labrador. In Colombia, the company has a 25% carried interest in Project X where historic drilling intersected significant gold mineralization and 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, 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.
For further information contact:
Terry Christopher
CEO and President
902-405-3520
Copyright (c) 2024 TheNewswire – All rights reserved.
