(TheNewswire)
April 18, 2024 – TheNewswire – Zonte Metals(TSXV:ZON)(XOTC:EREPF) is pleased to provide an update on additionaldata from the K6 drilling program at its Cross Hills Copper Project inNewfoundland and Labrador and provide notice it has received anexploration grant from the Government of Newfoundland andLabrador.
Highlights from technical analysis ofthe K6 drill core;
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Mineralization occurred in a number of pulses.
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Documented changes in the style of mineralizationsuggest possible extension to depth with better grade.
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Target is open at depth and to the west.
Terry Christopher, President and CEO comments; “Anumber of samples from the recently completed K6 drill core wereanalyzed via thin section and scanning electron microscope. Thefindings from this examination, coupled with characteristics derivedfrom core logs, reveal several significant aspects of the coppersystem at K6. Firstly, there were up to three distinct pulses ofmineralization, with the final one manifesting as a hypogenechalcocite event that overlaid earlier mineralization. Thisobservation is significant as these late overprinting chalcociteevents can lead to elevated grades. Moreover, changes in the overallcharacter of the mineralization offer insights into the copper system,suggesting a potential increase in grade with depth. These featuresare evidenced by a progressive increase in copper grade with depth inthe drill holes, along with a notable augmentation in chalcocitecontent, particularly evident in the deepest drill hole, CH23-05. Thishole exhibited higher mineral contents, with recorded grades inindividual samples reaching up to 2.64%, as noted in our February 29,2024 press release. These observations will be used to vector in onstronger parts of the mineral system in the up coming drillprogram.”
Zonte Metals has been exploring the Cross Hills Copperproject since 2018. The project now has 12 targets, with a number ofthem at or near the drill ready stage. Over the past several years theCompany has undertaken a program to enhance its understanding of thecopper system with the aim of intersecting better copper zones indrill core. Early drill programs yielded copper intersections, withthe longest continuous interval measuring 4.6m. This contrasts withthe recently drilled K6 target, that availed of much more technicaldata prior to drilling, where continuous mineralization wasintersected in intervals up to 34.5m (refer to the February 29, 2024press release).
In preparation for the follow-up drill program at theK6 target, Zonte commissioned a thin section (TS) and ScanningElectron Microscope (SEM) analyses of select samples from the recentdrill core. These analyses were conducted by Hamilton Geoconsulting ofHamilton, Ontario. The objective was to provide additional insightsinto the mineralizing system, which in conjunction with otherfindings, could aid in defining possible extensions for theintersected copper intervals.
One significant finding from the TS analysis was thediscovery of up to three distinct mineralizing events. Near thesurface in CH23-06, a sample at 98.62m, which sits in the 34.5minterval that returned 0.11% Cu, recorded at least two phases ofmineralization, as evident from chalcopyrite replacing bornite.Chalcocite was also present, but no distinctive relationship to theinitial two minerals was observed in TS. Deeper in CH23-05, a sampleat 164.85m, which sits in the 11.2m interval that returned 0.42% Cu,showed three pulses of mineralization. The early phase was ahigh-temperature one carrying chalcopyrite, which was subsequentlyfollowed by a bornite phase and then a late hypogene chalcocite phase.
Drilling through this portion of the target highlightedan increase in copper grade with depth, as illustrated in thecross-section below, which was previously released on February 29,2024. The increasing copper grade with depth is interpreted to becontrolled by the fluid system that emplaced the mineralization. Innear-surface intervals, such as in CH23-06, mineralization was mainlycharacterized as thin films of chalcocite on hairline fractures. Incontrast at depth in CH23-05, the mineralization is also comprisedwell-defined chalcocite grains and veining, penetrating the rock mass.This observation suggests the mineralization emplaced in CH23-06 mayhave been at the top of the system in the lower pressure portioncompared to CH23-05 which would have been deeper and further into thecopper system. Should this trend persist, it is inferred that morefavorable portions of the mineralizing system may lie at greaterdepths, below CH23-05.
Figure 1. Cross section through CH23-06, 02, 03 and 05 drill holes atthe K6 target.
Based on the observations from the TS and SEM analysis,in concert with drill hole, geochemical and geophysical data, thetarget appears to be open at depth and to the west. The next drillprogram, which is being planned, will test these open directions.
Additional information on the Cross Hills Copperproject can be found at the following link https://www.zontemetals.com/projects/cross-hills-copper-property.
Zonte would also like to acknowledge and thank theGovernment of Newfoundland and Labrador for a grant totalling$69899.49. The grant was issued through the Mineral Incentive Program- Junior Exploration Assistance, from the Department of Industry,Energy and Technology. The grant is in recognition of 2023 explorationexpenditures on the Cross Hills Copper Project.
Qualified Person
Donald Blake, P.Geo. is the qualified person as definedby NI 43-101 and has reviewed and approved the contents and technicaldisclosures in this press release.
About Zonte
Zonte Metals Inc. is a junior explorer focused on goldand copper. The Company owns 100% of the McConnells Jest project, inthe Tintina Gold Belt, located in the Yukon Territory, the Wings Pointproject in the new Central Newfoundland Gold Belt, and the Cross HillsIOCG project located in Newfoundland and Labrador. In Colombia; thecompany has a 25% carried interest in Project X where historicdrilling intersected significant gold mineralization and the Companyand partner have an application over open areas sitting on top of theopen pit outline of the Gramalote Deposit in Colombia, which is heldby AngloGold Ashanti (NYSE:AU) and B2Gold (TSX:BTO, NYSE:BTG). Thetitle issuance is being contested by the state governing theapplication and the Company has started legal action to protect itsrights.
Forward-Looking Information
This news release contains forward-looking statementswhich include statements regarding the Corporation’s future plans,as well as statements regarding financial and business prospects andthe Corporation’s future plans, objectives or economic performanceand financial outlooks. The Corporation believes that the expectationsreflected in this news release are reasonable but actual results maybe affected by a variety of variables and may be materially differentfrom the results or events predicted in the forward-lookingstatements. Readers are therefore cautioned not to place unduereliance on these forward-looking statements. In evaluatingforward-looking statements readers should consider the risk factorswhich could cause actual results or events to differ materially fromthose indicated by such forward-looking statements. Theseforward-looking statements are made as of the date hereof, and unlessotherwise required by applicable securities laws, the Corporation doesnot intend, nor does it undertake any obligation to update or reviseany forward-looking statements. Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy of accuracy of this release.
For further information contact:
Terry Christopher
CEO and President
902-405-3520
info@zontemetals.com
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