Zonte announces a Ground Gravity Survey at Cross Hills Project and Announces Private Placement

About this update from Zonte Metals Inc.

[{"type":"text","content":"Zonte announces a Ground Gravity Survey at Cross Hills Project and Announces Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n April 3\n \n \n , 2023 -\n \n \n TheNewswire -\n \n \n Zonte Metals Inc\n(TSXV:ZON) (“Zonte” or the “Company”) is pleased to announce\nthat it has nearly completed a ground gravity survey at its 100% owned\nCross Hills Copper Property, in Newfoundland and Labrador and plans a\nnon-brokered private placement for up to $250,000.\n \n \n \n \n The ground gravity survey will cover the K9 and K10\ntarget areas. The K9 target is defined by copper-in-soils and rocks,\nan associated magnetic anomaly and well defined hydrothermal\nalteration sitting in a structural zone (see press release dated\nSeptember 23, 2021).  The K10 target is defined by two discrete areas\nof bedrock copper mineralization and elevated copper-in-soils over a\nlarge area, with significant hydrothermal alteration sitting along\ndefined fault structures (see press releases dated January 26, 2022\nand April 28, 2022). The main part of this target has not yet been\nsurveyed by magnetics. The objective of the survey is to prepare K9\nfor drilling and move K10 targets towards drilling, results dependent.\nOnce the final data is obtained from the contractor it will be\nsubmitted for 3D processing to a geophysical consultant.  Results\nwill be released once the data has been processed\n \n \n .\n \n \n \n \n The Company is also pleased to announce a non-brokered\nprivate placement for proceeds of up to $250,000 consisting of up to\n2,500,000 common share units at a price of $0.10 per unit (the\n“Financing”), subject to TSX Venture Exchange (the “Exchange”)\napproval. Each Unit will consist of one common share and one share\npurchase warrant entitling the holder to acquire one additional common\nshare at a price of $0.18 for a period of 36 months from the date of\nissuance.  The net proceeds of the Financing will be used for working\ncapital purposes and the Company may consider increasing the size of\nthe Offering depending on demand.\n \n \n \n \n Eligible finders will be entitled to a Finders’ Fees\nin connection with securities sold pursuant to the Financing of (i)\ncash in an amount equal to 6%of the aggregate gross subscription\nproceeds received ...

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