onte is pleased to announce that drilling at the K6 target on the Cross Hills Copper project has commenced. Zonte completed a drill program on the K6 target in late 2023 with the results released on Feb 28, 2024. That drill program was the first on the project since 2020. Since then, the Company has conducted additional multi-faceted exploration to aid in better understanding the mineralizing system. The Fall 2023 K6 drilling demonstrated that the integration of the new exploration data with the initial datasets has provided a better understanding of the mineralizing system. All drill holes from the Fall 2023 program intersected copper mineralization with 11.2m averaging 0.42% Cu in the deepest drill hole, suggesting possible increasing grades with depth. The Summer 2024 drilling program aims to test extensions of this mineralization along strike and to depth. A plan map of the Fall 2023 drill program is provided below.
The Cross Hills Copper Project is an IOCG system with 12 identified targets across its 25 km extent, K6 being the smallest. These targets are defined by coincident geological, geophysical, and geochemical data. Depending on the results from the current phase of K6 drilling, further drilling will continue at K6, and additional targets will be prepared for drilling using the same advanced exploration methods that led to the copper discovery at K6. Many targets have undergone advanced exploration and can be quickly advanced to the drill stage.
Additional information on the Cross Hills Copper Project can be found at https://www.zontemetals.com/projects/cross-hills-copper-property
The Company also announces it has granted incentive stock options to qualified participants to purchase an aggregate of up to 4.5 million common shares pursuant to the Company’s rolling stock option plan. The option grant included the issue of 3.1 million options to Officers and Directors of the Company and 1.4 million options to consultants of the Company. The stock options have a five-year term, subject to an 18-month vesting period and an exercise price of $0.08 per share.
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