Zonte Metals Inc (TSXV: ZON) ("Zonte" or the "Company") is pleased to announce it has commenced drilling at the Cross Hills Iron Oxide Copper Gold Property in Newfoundland and Labrador.
The first drill hole is well underway at the Dunns Mountain target where a large target defined by coincident high-resolution ground magnetics, induced polarization and a mineralized corridor containing copper, silver and gold in surface grab samples (see press release dated October 11, 2018). The Dunns Mountain target is the first target to be drill tested within the 13,325 hectare Cross Hills Property where the Company has additional target areas, a number of significant magnetic anomalies requiring additional exploration and many areas that have yet to be explored. The Company will provide updates throughout the drill program.
The Company also announces it has granted incentive stock options to directors, officers, employees and consultants to purchase an aggregate of up to 775,000 common shares pursuant to the Company’s rolling stock option plan. The stock options have a five year term, subject to an 18-month vesting period and having an exercise price of $0.29 per share.
Source: Company Press Release