TheNewswire – April 18, 2023 – Zonte Metals (TSXV:ZON) is pleased to announce the discovery of two gravity anomalies at the K9 target, on its Cross Hills Copper project in Newfoundland, each anomaly spatially coincident with a magnetic anomaly, and elevated copper in rocks and soils.
“The recently completed gravity survey identified two anomalies at the K9 target. Previous exploration over the target area by Zonte identified a magnetic anomaly coincident with significant alteration, sitting in a structural corridor with elevated copper in rocks and soils. Throughout the Cross Hills Copper project the Company has completed over 1000 MMI soil samples, with the K9 target having the majority of the highest values. The single highest copper-in-soil sample sits above one of the newly discovered gravity anomalies, making it a high priority target. The Company will complete a detailed infill and expanded soil sampling program to define the highest priority areas for initial drilling.”
The two gravity anomalies discovered at the K9 target sit partially adjacent and overlapping the magnetic anomaly. The southeast gravity anomaly measures about 800 by 500m and open to the south. The northwest gravity anomaly is an elongated anomaly measures over 1000m along strike and up to 300m wide. Each anomaly is coincident and spatially associated with elevated copper in rocks and soils. The Company has completed over 1000 MMI soil samples project wide with the K9 target containing the highest concentration of the elevated copper. Notably, the highest copper-in-soil value corresponds to the new southeast gravity anomaly. Previously, exploration over the K9 target identified bedrock mineralization returning up to 1.76% copper. Mineralization through the target area is characterized by bornite, chalcopyrite and chalcocite associated with hematite and magnetite. Pyrite is commonly associated with the copper mineralization and halos the target area. See image below and for more information on the target and the Cross Hills Copper Project please visit https://www.zontemetals.com/projects/cross-hills-copper-property
Presently, the Company is completing a detailed soil sampling program over the new K6 South anomaly, which will be followed by a similar program over the large K9 target.
Donald Blake, 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.
Figure 1. The newly discovered gravity anomalies with copper in rocks and soils and the magnetic anomaly at the K9 target.
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 IOCG 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.
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.
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