Zephyr Minerals Ltd. (TSX: V.ZFR, Stock Forum) said that it has awarded a diamond drill contract to Godbe Drilling LLC, a private drilling services company, of Montrose, Colorado, to drill up to 15 holes totaling approximately 500 metres.
According to the Zephyr Minerals press release, the drill program is expected to commence in the next several days on the Windy Gulch segment of the Dawson gold property.
The property, located in Fremont County, Colorado, is a highly prospective exploration property.
The property hosts a proterozoic-aged, stratabound copper-gold deposit with associated sulphide zinc-lead-silver mineralization along strike to the west.
Gold mineralization is typically stratigraphically lower than the sulphides.
Zephyr is a junior focused on exploration of gold and silver around the globe.
On Friday morning, Zephry was trading at $0.18 a share. The company had a market cap of $3.4 million, based on 19.1 million shares outstanding. The 52-week high and low was $0.35 and $0.15 respectively.