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Zephyr Minerals completes geochemical and geophysical programs and ships first set of drill core for assay
HALIFAX, June 22, 2016 /CNW/ - Zephyr Minerals Ltd. ("Zephyr" or the "Corporation") (TSX-V: ZFR) is pleased to announce that excellent progress continues to be
About this update from Zephyr Minerals Ltd.
[{"type":"text","content":"HALIFAX, June 22, 2016 /CNW/ - Zephyr Minerals Ltd. (\"Zephyr\" or the \"Corporation\") (TSX-V: ZFR) is pleased to announce that excellent progress continues to be made on its high grade Dawson Gold project in Colorado, USA. Five of the planned 16 hole diamond drill program have been completed with core for four holes shipped to Bureau Veritas Mineral Laboratories in Vancouver BC for fire assay. Assay results are anticipated in mid July, 2016. The drill program is focused on expanding resources in the Windy Gulch area where high grade gold mineralization occurs at surface. The current inferred resource* at Windy Gulch is 16,000 ounces comprised of 49,000 tonnes at a grade of 10.6 g/t with a cutoff of 5 g/t and a top cutoff of 40 g/t. Uncut the grade is 11.0 g/t. The majority of the drill program is outside the current resource estimate following the zone to the east. Drilling to date supported by the Induced Polarization (\"IP\") results of the recently completed geophysical program points to gold mineralized body raking to the southeast. The Company is expecting delivery of a report late June – early July by Denver-Sonoita based MagmaChem Exploration, Inc. on detailed mapping and geochemical sampling conducted in the Windy Gulch area. Results of this work indicate the gold mineralization at Dawson Gold is related to a low pressure, northeast trending dilatational jog along an east west trending shear zone between two large granites. The deposit type is postulated to be a weakly oxidized peraluminous intrusion related deposit sourced in peraluminous granitic intrusions. Ground geophysical programs comprised of magnetics and IP has just been completed and the Company anticipates having a report in hand by early July 2016. The magnetic survey was successful in outlining the rock types hosting the gold mineralization as a strong magnetic low anomaly. The readily identifiable low magnetic signature will assist in tracking the gold mineralized shear zone in overburden obscured areas. The IP survey successfully demonstrated a strong correlation between chargeability anomalies and gold mineralization. This strong correlation has identified new drill targets both near surface and at depth and may prove to be an important exploration tool in discovering new blind gold deposits at Dawson Gold similar to ...