Business
Zephyr Options Map Gold Mine Property in Zimbabwe
Halifax, Nova Scotia--(Newsfile Corp. - February 7, 2023) - Zephyr Minerals Ltd. (TSXV: ZFR) (" Z...
About this update from Zephyr Minerals Ltd.
[{"type":"text","content":"Zephyr Options Map Gold Mine Property in ZimbabweHalifax, Nova Scotia--(Newsfile Corp. - February 7, 2023) - Zephyr Minerals Ltd. (TSXV: ZFR) (\"Zephyr\" or the \"Company\") is pleased to announce that it has entered into an option agreement (the \"Agreement\") to acquire up to an 80% interest in the approximately 65 hectare MAP Gold Mine property (\"MAP Gold Mine\") in Mashonaland Central, Zimbabwe from an individual and his privately owned corporation (\"the Owner\"). The Owner is an arm's length citizen of Zimbabwe. The MAP Gold Mine is a small scale combined open cast and shallow underground operation with gold being recovered from three open pits (eluvial gold) and four adits driven on a shear zone. Pit 1 is approximately 60m by 70m and Pit 2 which is similar in size is located approximately 300m south-south-east of Pit 1. A new pit, Pit 3 has recently been started 85m southwest of Pit 1 (between Pits1 & 2), and was reported by the Owner to contain eluvium grading 3 to 4 g/t gold. A grab sample taken by Zephyr from Pit 3 returned an assay of 4.4 g/t gold. To date almost all mining has been in the eluvium with one shallow dipping (35 to 45 degrees) northeast trending shear zone having been discovered at Pit 2. The gold mineralized shear zone is being mined by the Owner via shallow adits dug at four locations in highly weathered sheared Greenstone along approximately 15m of strike length. Grab sampling by Zephyr of the shear zone stock piles from the four adits returned assays ranging between 1.6 g/t gold and 13.8 g/t gold. Unfortunately, the exposure in the adits is insufficient to discern the total width of the shear zone. Pits 1, 2 and 3 are located across a width of 300m perpendicular to the strike of the gold mineralization in the shear zone in Pit 2. These new discoveries warrant a proposed exploration program including drill testing for a potential large tonnage deposit comprising possible multiple gold mineralized shear zones. The property lies within Archean aged greenstones and was mapped on a 1:100,000 scale by the Geological Survey of Zimbabwe between 1985 and 1988. The local area was mapped as metarhyolite with a northeast trending dolerite dike that transects the property. One and a half kilometers (1.5 km) west of the property is a major regional fault which trends north-northeast. Waste rock in dump materi...