TSXV: ZON
2021 Highlights
Cross
- Discovered new targets including North Dunns, Nine Mile and K9.
- Targets now total eight, with exploration ongoing.
- North
Dunns and Nine Mile are on the order of 3x3 km or larger, defined by strong magnetics, rock and soil geochemistry. - K9 is defined by strong alteration with the highest copper-in-soil anomaly on the project, measuring about 1500 by 700m.
- Discovery of strong copper soil anomalies and new surface copper mineralization at Big K and K6. Both targets are drill ready.
- Completed phase one first pass exploration on newly acquired claims.
- Discovery of three areas of interest including nickel in black shales, gold in quartz float and a possible buried near-surface sulphide target.
- One new claim contains an historic Noranda till sample which returned 59.2 g/t Au, which has yet to be followed up.
- Project is contiguous to
Victoria Gold .Victoria Gold has been exploring itsRaven Project which sits a few kilometres from Zonte's Claim border. - The Company is engaged in completing exploration permit applications and waiting on the next steps.
- Numerous parties have expressed interest in the project over the past 12 months. The Company examines each opportunity for its potential return for current shareholders.
Project X;
- The Company holds a 25% carried interest to a production decision in an option agreement for Project X in
Colombia with Southern Sky, a private company, in the process of completing a CPC transaction with Auston Capital Corp. - Project X has non NI43-101 drill data including 80m @ 2.1 g/t Au and 451m @ 0.70 g/t Au.
Gramalote Application;
- With a partner, the company made application over open ground over the Gramalote Deposit, held by
Anglo Gold and B2Gold. - Through an eight year legal challenge the case is now waiting to be scheduled for trial.
- Through this process numerous attempts by various parties to have the application or case dismissed were initiated, however, the Company has provided counters to all attempts and displayed its application is valid according to the applicable mining code.
2022 Outlook
- The Company will continue to focus on the copper potential at the
Cross Hills Project including additional geophysics, target generation and drilling. - Follow-up exploration on its
Wings Gold Project including soil and rock sampling and possibly geophysics. - Finally, the Company looks forward to additional corporate developments from the listing of Southern Sky (Project X),
MJ Gold Project permitting and the Gramalote application court trial.
Qualified Person
About Zonte
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
SOURCE
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