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Zephyr Minerals Ltd.
Summary
| Project: | Dawson | |
|---|---|---|
| Deposit: | Dawson | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 10/23/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-10-2018: Zephyr Minerals Ltd. announces an Exploration/Drilling Update report for its Dawson deposit at the Dawson project. old drillholes new assay results incl. 3.4m @ 17.6g/t Au from 198.4m. HALIFAX, Oct. 23, 2018 /CNW/ - Zephyr Minerals Ltd. ("Zeph | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | HALIFAX, Oct. 23, 2018 /CNW/ - Zephyr Minerals Ltd. ("Zephyr" or the "Corporation") (TSXV: ZFR) is pleased to report that geological mapping at the Sentinel Zone on its Dawson Gold Project in Colorado has resulted in the discovery of two new mineralized showings. The first is at a previously unknown mine working where a 30 to 50 foot deep timbered shaft was discovered. This showing called the "Shaft Prospect" is comprised of siliceous biotite aplite, sericitic, siliceous leucogranite and gossanous rocks. The second is a newly discovered, gossanous outcrop called the "Northeast Prospect". These rock types are host to gold mineralization on the contiguous Dawson Zone to the west. The Shaft Prospect is located approximately 600 meters (2,000 feet) east-southeast of the Dawson Zone. The timbered shaft and pits in this area are newly discovered and have never had any modern geological exploration or drilling completed. Initial sampling in this area returned 20 to 50 parts per billion ("ppb") gold, 0.15 to 0.19% copper, and up to 0.14% zinc. These grades are considered prospective because they are found both in the gossanous and biotite aplite rocks, and are similar in grade to the gold host rocks up-dip from the high grade gold mineralization in the Dawson Zone. This suggests the gold mineralizing system found in the Dawson Zone was also active in the Sentinel Zone. The Northeast Prospect is located approximately 800 meters (2,650 feet) north east of the Dawson Zone. A single sample collected from the gossan outcrop returned 344 ppb gold and 0.18% copper. Geological mapping, trenching and sampling is required to further assess the gold potential of this new, highly prospective discovery. The Sentinel Zone has very little rock outcrop with over 90% of the surface covered with overburden. As seen at the Windy Gulch Zone, the high grade gold zones can often be recessive (soft rock) and as such tend to occupy lower areas which are selectively covered with overburden. In order to explore the overburdened areas at the Sentinel Zone, Zephyr completed a reconnaissance soil survey program to determine if this would be an effective exploration tool. The reconnaissance soil survey identified numerous anomalous soil areas that were elevated in gold, copper and silver, verifying the effectiveness of soil geochem surveying at Sentinel. The next phase of exploration will include a comprehensive soil geochem survey over the Sentinel Zone. The gold and copper anomalies generated from this program will assist in selecting drill targets over areas that lack bedrock exposure. | |
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