TSXV: ZON
HALIFAX, April 3, 2018 /CNW/ - Zonte Metals Inc. (TSXV:
ZON) ("Zonte" or the "Company") is pleased to provide an update related to its ongoing exploration program at the Cross Hills
Iron Oxide Copper Gold Project.
During January and February, and as part of a larger program, Zonte carried out a high-resolution ground magnetometer surveys
on select portions of the Cross Hills Project. The Company is currently in receipt of the final results from the Carols Hat
target area. Carols Hat is located two kilometres south of the high-priority Dunn's
Mountain target where a large 600m x 400m magnetic high anomaly containing numerous copper showings directly related to magnetite veining has been
delineated (see Press release dated February 27, 2018). The survey carried out at the Carols Hat
area was successful in identifying three additional magnetic anomalies of interest.
Terry Christopher, President and CEO states "The most recent work on the Cross Hills Project
provides significant new anomalies outside of the Dunn's Mountain target and illustrates the potential for large targets within a newly identified IOCG system. Field
work is continuing and will be expanded with prospecting and mapping as targets are identified and moved towards the drilling
stage. The Company's goal is to have two fully permitted and drill ready projects in Newfoundland and Labrador. The Company's Wings Point Gold project is now
fully drill permitted and once Cross Hill's is advanced further during the coming months the Company will be in a position to
move forward to the drill stage on both projects."
The most recent geophysical surveying initially targeted the large topographic high feature referred to as Carols Hat where
extensive magnetite veining is present. Carols Hat appears to be very similar geologically to Dunn's Mountain. Geophysically, Carols Hat is defined by a strongly
magnetic anomaly measuring in excess of 550m x 600m and with the
southern portion of this anomaly being covered by granite. As previously released, copper and uranium mineralization grading up
to 2.82% Cu and 0.17% U3O8, has been identified within a fracture in the southernmost portion of this target. The
mineralization may suggest remobilization of fluids from depth and into the overlying granite which is only weakly magnetic. As
the survey was expanded away from Carols Hat, two additional magnetic anomalies of interest were identified. The first
anomaly occurs approximately 400m south of Carols Hat and is characterized by a 400m x 300m strong magnetic response within granite and proximal to the mapped
granite contact. Located approximately 300m northwest of Carols Hat, a second large geophysical
target measuring 600m x 700m was also delineated and lies mostly
under cover. A number of samples previously collected on the very southern limit of this anomaly showed disseminated and veined
magnetite with hematitic alteration, however, no sampling was carried out over the main portion of the anomaly. All three areas
will be field proofed to determine their significance. Images of the Carols Hat geophysical targets including plan views and 3D
inversion geophysical models can be viewed at http://www.zontemetals.com/projects/cross-hill-project.
Continued high-resolution ground magnetometer surveying along with continued prospecting and geological mapping will begin
within the coming weeks. Additional updates will be provided by the Company once the final data and interpretations have been
received.
Qualified Person
Dean Fraser, 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.
About Zonte
Zonte Metals Inc. is a junior explorer focused on gold and copper. The Company has signed Option Agreements to acquire 100% of
the McConnells Jest project, in the Tintina Gold Belt, located in the Yukon Territory and the
Cross Hills IOCG project located in Newfoundland and holds a 100% interest in the drill ready
Wings Point Gold Project also located in Newfoundland. In addition, 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.
SOURCE Zonte Metals Inc.
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