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Zonte Metals Inc

Exchange: TSXV Exchange | Oct 24, 2017, 1:56 AM EDT

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Zonte Announces Discovery at the Two Four Target and Results from Late Summer Field Exploration Program at the McConnells Jest Project, Yukon Territory.
Zonte Announces Discovery at the Two Four Target and Results from Late Summer Field Exploration Program at the McConnells Jest Project, Yukon Territory.

Canada NewsWire

TSXV – ZON

HALIFAX, Oct. 6, 2017 /CNW/ - Zonte Metals Inc. (TSXV: ZON) (the "Company" or "Zonte") is pleased to announce the Phase 1 drill results as well as highlights from the late summer 2017 field exploration program at its McConnells Jest Project located in the Yukon Territory. Highlights include:

  • Drilling on the Two Four Target which returned:
    • 32.02m of 0.49 g/t Au in MJ-04 from 45.80m, with 20.44 m of 0.72 g/t Au from 61.37m;
    • 29.60m of 0.53 g/t Au in MJ-04 from 112.90m, with 20.28m of 0.69 g/t Au from 122.22m;
  • Discovery of high-grade mineralization at the Tea Zone Target where a quartz-arsenopyrite vein returned 129 g/t Au; and
  • Discovery of the new J Zone Target where sampling of arsenopyrite veins returned values up to 5.35 g/t Au.

Phase 1 Drilling

A total of 1027 metres was drilled in five holes on three targets over a small area of the pluton with the majority of the approximately 3,371 hectare property remaining untested.  Two holes were drilled on each of the Hill and Two Four Targets with a single hole completed at the Pink Mountain Target. Highlights from the drill program confirmed mineralization at the Two Four Target as summarized in the table below. Both drill holes were drilled from the same drill pad; MJ-03 was drilled at an azimuth of 335 degrees with a 65 degree dip and MJ-04 was drilled at an azimuth of 285 degrees with a 45 degree dip. Results from MJ-03 returned anomalous gold values hosted in quartz-arsenopyrite (+/- pyrite) veins over 100m of the drill core. Drill hole MJ-04, drilled from the same pad, was drilled to a depth of 148.13m towards the mapped edge of the pluton and past any known surface mineralization to test a soil covered area. The drill hole stayed in the pluton over its length and intersected upper and lower mineralized zones. A 20.45m interval in the upper mineralized zone returned 0.72 g/t Au, within a 62.43m mineralized interval. The lower zone, at the bottom of the drill hole, from 112.90 to 142.50m returned 0.53 g/t Au, including a 20.28m interval with 0.69 g/t Au. This lower zone showed an increase in veining and had a higher proportion of pyrite to arsenopyrite compared to the upper mineralized zone.

 

Drill Hole

From (m)

To (m)

Interval (m)

Gold (g/t)

MJ-03

10.71

19.04

8.33

0.20


107.49

214.27

106.78

0.18

including

107.49

189.30

81.81

0.20






MJ-04

19.39

81.82

62.43

0.27

including

45.80

81.82

32.02

0.49

including

61.37

81.82

20.45

0.72


112.90

142.50

29.60

0.53


122.22

142.50

20.28

0.69


134.49

142.50

8.01

1.13

 

Note: depths and thicknesses listed in the table and throughout the press release are core depths and the true thickness is not known at this time.

The surface projection of the mineralization intersected in the bottom portion of MJ-04 may extend the target to the west under soil cover. The drill holes at the Two Four were collared on the southern portion of the zone and much of the target remains to be tested. Further exploration and drilling is required to follow-up on these results. A map showing the drill hole locations is found on the company's webpage www.zontemetals.com.

Drill core from the Pink Mountain Target was different in character to the Two Four Target with reduced veining and more intense fracturing. Results showed spotty anomalous gold values in several intervals. The single drill hole was at the western end of the target which covers an area approximately 300m by 300m and further work is warranted on this target. Results from the Hill Target were generally low.  

Late Summer 2017 Field Exploration

Field exploration was primarily focused on the Pink Mountain, Hill and Two Four Target areas for the majority of the summer. A one-day field trip was completed to the Tea Zone where high-grade mineralization was discovered and limited exploration was carried out to the north of Pink Mountain where the J Zone was discovered.

At the Tea Zone target, on the north-western side of the pluton, outcrop exposure was limited to a narrow valley where a number of veins were identified at the southern end. One high-grade sample was collected from a quartz-arsenopyrite vein which ranged from 5 to 10cm in width and assayed 129 g/t Au. Two other veins returned 0.92 g/t and 2.72 g/t Au in this area. Soil geochemistry exhibits a multi-element anomaly which extends from the sampled veins to the west for 390m and having at least 200m dimension in a north-south orientation. No exploration was completed in this area with the multi-element soil anomaly. Note the rock samples are grab samples, which are not necessarily representative of mineralization hosted on the property.

The J Zone, formerly known as the Seven-Four target, was discovered this summer after following up on a historic rock sample. This target lies about 1.3km north of Pink Mountain and is located within an area of the pluton with dense fracturing. The zone is characterized by fracture hosted narrow arsenopyrite veins. Sampling of the arsenopyrite veins returned values from anomalous to 5.35 g/t Au. The mineralization which is exposed in a cliff face appears to sit in a SW-NE structure that is 150m wide and over 500m long. Additional soil sampling and more detailed rock sampling is required to delineate this target. A number of other samples returned gold values in the area between the J Zone and Pink Mountain targets, however, outcrop exposure was poor and this larger area warrants detailed exploration. Note the rock samples noted in the late summer exploration results are grab samples, which are not necessarily representative of mineralization hosted on the property.

Much of the success in identifying targets was a result of following up on historic soil and rock sampling. A number of other targets from that historic data set were identified and remain to be field checked. One of the largest and strongest is the 400m by 500m Big Quartz target where multi-element soil geochemistry, including Au, As, Bi, Sb and W, illustrate a large target on the western side of the pluton.

A map of the McConnel Jest Property, illustrating the multiple targets identified to date, can be obtained on the Company's website at www.zontemetals.com.

Terry Christopher, President and CEO of Zonte comments "During a short field program, the Company was able to identity and drill three targets. The Phase 1 drill results confirm the presence of an Intrusion Related Gold System with the discovery at the Two Four Target. This discovery along with the identification of a high-grade 129 g/t Au vein at the Tea Zone and the discovery of gold mineralization at the J Zone confirms a widespread gold system at the McConnells Jest Project. The successes to date have occurred with limited exploration and the majority of the pluton remains to be explored."

Qualified Person

Andy Randell, P.Geo. is the qualified person as defined by NI 43-101 and is responsible for the preparation of the Technical Report and the technical disclosures in this press release.

Rock and Protocol and Drill Sampling Protocol

See the June 9, 2017 news release for details on the surface rock sampling protocol. All 2017 drill core samples were carried out in a careful and diligent manner using scientifically established sampling practices designed and tested to ensure that the results are representative and reliable. All drill core was logged and prepared for shipment on site and shipped to ALS in Whitehorse using a third-party contractor, under Zonte personnel supervision. QA/QC included the systematic insertion of certified standards, blanks and field duplicates. Samples were described, photographed, tagged and sealed prior to being aggregated into rice bags and submitted for analysis by ALS Global and analyzed for the ME-ICP41a package (34 element ICP-AES) and AU-AA24 for gold (a 50 gram Fire Assay Au finish). ALS Global is an independent, reputable and accredited full-service commercial laboratory accredited to ISO/IEC 17025:2005. ALS Global also provides its own internal QA/QC protocol of blanks, duplicates and standards in each work order, which is supplied to the Zonte with the rock sample analysis.

About Zonte

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.

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.

 

SOURCE Zonte Metals Inc.

View original content: http://www.newswire.ca/en/releases/archive/October2017/06/c6022.html

Terry Christopher, CEO and President, 902-405-3520, info@zontemetals.com, www.zontemetals.comCopyright CNW Group 2017

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