Business
Zonte Files initial NI43-101 Report on the Wings Point Gold Project
TSXV: ZON BEDFORD, NS, June 25, 2012 /CNW/ - Zonte Metals Inc (TSXV: ZON) (the "Corpora...
About this update from Zonte Metals Inc.
[{"type":"text","content":"\n\n\n\n\n\nTSXV: ZON\n\n\nBEDFORD, NS, June 25, 2012 /CNW/ - Zonte Metals Inc (TSXV: ZON) (the\n \"Corporation\" or \"Zonte\") is pleased to provide an update on the Wings\n Point project. A National Instrument 43-101 Report has been filed and\n accepted by the Toronto Venture Stock Exchange.\n\n\nThe Report is entitled \"Technical Report on the Wings Point Property,\n Newfoundland, Canada, Licence 016270M\", and was completed by D.R.\n Duncan & Associates Ltd (\"DRDAL\"). The purpose of the report was to\n review the results of the historical and Zonte's exploration work up to\n this point, confirm the project is of significant merit and provide\n recommendations for a Phase II program. The report will be filed on\n SEDAR within the next 45 days.\n\n\nThe Wings Point Project is located about 35 kilometres north of Gander,\n Newfoundland and Labrador, and accessible by paved and dirt roads. The\n NI 43-101 report was completed on the main target area within the Wings\n Point project and covers 30 claims totaling 750 hectares, and is part\n of the larger project collectively called the Wings Point Project.\n\n\nZonte has completed Phase I of exploration over the main target area,\n called the Pit Target. The program consisted of rock grab sampling,\n soil sampling including conventional and mobile metal ion media,\n induced polarization (IP) and magnetic geophysical surveys and\n trenching. The work confirmed the presence of gold mineralization that\n has been known in the sheared and altered sediments since the late\n 1980's.\n\n\nGold mineralization is exposed in an operating gravel pit and appears to\n strike with the local geology. Mineralization can been seen in two main\n areas, being parallel and exposed intermittently throughout the gravel\n pit area. The mineralization identified on the property to date is\n characterized as being associated with disseminated pyrite and\n arsenopyrite in altered shales, siltstones and greywacke.  The primary\n alteration associated with gold mineralization includes carbonate,\n sericite and silicification.\n\n\nThe IP survey identified two large geophysical anomalies coincident with\n known gold in bedrock gold mineralization, named the Eastern and\n Western Geophysical Anomalies. The Western Geophysical Anomaly\n signature is 1200 metres in length and up to 150 metres wide and...