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ZEPHYR OPTIONS CHIKONGA MINE PROPERTY IN ZIMBABWE
ZEPHYR OPTIONS CHIKONGA MINE PROPERTY IN ZIMBABWE Canada NewsWire Tradi...
About this update from Zephyr Minerals Ltd.
[{"type":"text","content":"\n \n \n \n ZEPHYR OPTIONS CHIKONGA MINE PROPERTY IN ZIMBABWE\n \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 \n Canada NewsWire\n \n \n \n \n Trading Symbol:  TSX-V: ZFR     OTC-ZPHYF\n \n \n Shares Outstanding: 67,086,985\n \n \n \n \n HALIFAX, NS\n \n \n ,\n \n \n May 9, 2022\n \n \n /CNW/ - Zephyr Minerals Ltd. (TSXV: ZFR) (\"\n \n Zephyr\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has entered into an option agreement to acquire 75% of the 40 hectare Chikonga gold mine property (\"Chikonga Mine\") in Manicaland,\n \n Zimbabwe\n \n from Hilltouch Investments (Pvt.) Ltd. (\"Hilltouch\") a privately owned arms length\n \n Zimbabwe\n \n company. The agreement is subject to satisfactory due diligence which is expected to take approximately two weeks.\n \n \n The Chikonga Mine is a small scale mine with 12 to 14 small, shallow shafts on multiple en echelon, east-west trending, steeply dipping shear zones (reefs) comprised of siliceous mica schist and silicified andesite typically hosting bands of fine grained grey and black quartz with disseminated pyrrhotite, pyrite, arsenopyrite, chalcopyrite and gold. The shear zones occur within an approximate 350 meter wide (across strike, north-south) structural corridor which crosses the property for approximately 800 meters east-west. The deepest shaft is the No.1, Main Shaft estimated to be 70 meters with the remainder up to 30 meters in depth. Hilltouch historical yearly production records indicate recovered average gold grades of 7.2 g/t in 2019, 11.0 g/t in 2020 and 4.4 g/t in 2021 as recorded at the Mutare Ministry of Mines and Mining Development office.\n \n \n Current information indicates the Chikonga Mine, with the exception of a single 41.4 meter hole, has not been previously core drilled which presents an excellent discovery opportunity beneath current mine workings. The property will be assessed for both its open pit and scaled up underground potential of the multiple shear zones. In addition, historical reports suggest potential for gold minera...