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Zonte Metals Engages Legal Counsel to Pursue Application Over the Gramalote Target, Colombia
Zonte Metals Engages Legal Counsel to Pursue Application Over the Gramalote Target, Colomb...
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[{"type":"text","content":"\n\n\n\nZonte Metals Engages Legal Counsel to Pursue Application Over the Gramalote Target, Colombia\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nZonte Metals Engages Legal Counsel to Pursue Application Over the Gramalote Target, Colombia\nCanada NewsWire\nBEDFORD, NS, Nov. 19, 2015\n\n\n\nTSXV: ZON\n\n\n\nBEDFORD, NS, Nov. 19, 2015 /CNW/ - As announced in a press release dated March 26, 2014, Zonte (the \"Company\"), in collaboration with several Colombian Partners, made applications for mineral titles in Colombia. One of the applications was made over open ground sitting over the Gramalote Deposit which is a joint venture between AngloGold Ashanti (NYSE: AU) and B2Gold (TSX: BTO) (NYSE: BTG). This application was subject to review by the Secretaria de Minas (Secretary of Mines), Department of Antioquia, Colombia, who has acknowledged the area under application has open ground, but notified the Company's partner that it is denying the application. Zonte and its partner have now engaged legal counsel to challenge this decision. Legal counsel has advised the Company that it is of the opinion the application was not processed in accordance with the Colombian Mining Code.\n\nThe Gramalote Deposit is reported to contain 2.535 Million ounces of gold in the total measured and indicated categories grading 0.81 g/t gold at a cut off of 0.25 g/t gold (source B2Gold Corp 43-101 technical report dated June 8, 2012). The application in question was made over open ground between titles sitting on top of the Gramalote Deposit and surrounding areas. A map of the application area illustrating the open areas applied for can be found on Zonte's website at http://www.zontemetals.com/projects/colombia/.  Multiple open areas were identified and included in the application, including one continuous area of approximately 17.8 hectares in the Gramalote Deposit area. Within the deposit area, a continuous open area sitting over the deposit and between titles measures 21 metres in width and nearly 600 metres in length and an additional area measures 13 metres in width and nearly 400 m...