zonte metals

Zonte Metals Acquires Iron Oxide Copper Gold Project

ALIFAX, Nov. 15, 2017 /CNW/ - Zonte Metals Inc (TSXV: ZON) ("Zonte") is pleased to announce it has signed an option agreement to acquire 100% of the Cross Hills Iron Oxide Copper Gold Project, on the island portion of Newfoundland and Labrador. The property is comprised of 327 claims covering 8175 hectares including 90 claims optioned from the property vendor and an additional 237 claims map staked by the Company.

The agreement entered into between Zonte and the property vendor grants Zonte the option to purchase a 100% interest in the project by making payments of $55,000 and issuing 1.5 Million common shares over four years. The claims are subject to a 3% NSR, 2/3rds of which can be purchased for $2,000,000. The acquisition is subject to acceptance by the TSX Venture Exchange.

Terry Christopher, President and CEO states, "The Company reviewed over 100 properties between 2012 to 2016 which resulted in a short list for possible acquisition. Our acquisition criteria is simple: look for properties with large scale potential. In November 2016, the Company acquired the McConnells Jest Project based on its large scale potential and completed a successful first stage exploration program in the summer of 2017 which resulted in a gold discovery at the Two Four Target. We are now pleased to have added the Cross Hills Project to our portfolio which covers 25km of a regional structure which has geological, geochemical and geophysical characteristics of an Iron Oxide Copper Gold system. Historically, this project has been explored for a number of elements including rare earths and uranium as well as for its Iron Oxide Copper Gold potential, however, all historic programs were limited in scope. Zonte plans to conduct a focused program followed by drilling as targets are defined. Exploration is expected to start shortly in the form a ground magnetic survey over portions of the project."

As part of its due diligence, the Company visited the property in September 2017 and examined areas of known mineralization. Grab samples were collected from surface mineralization over several different areas. At the northern end of the project, samples were collected from surface mineralization at Dunns Mountain, where copper mineralization in the form of bornite was observed in magnetite veins within an area of about 270m by 100m. A few kilometres to the south, in the Carols Hat area, copper and uranium mineralization was sampled. The results from Zonte's samples, as well as historic sampling are illustrated in the table below. Additional maps and information regarding the project can be found at www.zontemetals.com .

Prospector excellent point. I noted in Rick rule interview "Courage to buy low and wisdom to sell high"

Perhaps in hindsight there was wisdom to sell in the 30s. If you missed that it is Courage to buy low now. I did muster up some courage to buy more. I just may uses some of my profits else where and muster up more courage here.

Sell when they yelling and buy when they crying. I think I have heard some pouting here!!

To say "The market misinterpreted Yukon drill results..." is so on the money it is almost a gross understatement. I have said this analogy before and I'm saying it again, McConnells Jest was toted as an "apple seed." The seed germinated and sprouted. Prelimimary drilling results triggered announcement of "Discovery" and the seedling seems on the way to becoming a fine apple sapling. Many investors freaked because it wasn't the orange tree they somehow hoped for and expected.

Just because there were no shorts 3 or 4 weeks ago, does not mean they have not returned? I agree with you about selling in the high 30s, hindsight is a wonderful thing. I believe Hoss is talking about sellers here around 17 cents,

Usually weak hands are referred to those that do not intend to hold longer term, traders or longer term holders scared because of price drop.

I only know for sure that is is a much better buy here at 17 than it was in the 30s.

I think the market miss interpreted the Yukon drill results and too me that means an opportunity. Often most think of selling but on the other side - who is doing all the buying?

Didnt we go thought this already. Shorts are not here. Just selling.
And why do some refer to it as weak hands. If people sold in the hight 30's, i would call them smart hands right now.

we are in the last half hour wonder if we see the Anonymous flurry

We may get some interest when they start drilling Newfoundland area. I suspect it will be a February drill for a few weeks. Then they will have the plan ready for the Yukon in June.

Everyone, move your feet and do the short shuffle!!!

Regardless the weak will sell and the strong will buy.

The stock has been trading just over a month now in this 16 to 18 cent range since it got whacked down, roughly about 3 million shares. At some point the weak hands or nervous nellies will be out and strong hands or new hands will hold the stock with a 17 cent or so cost base.

The stock will then move up to fill that gap on chart between 20 and 32. About all one knows for sure, it will move back up when nobody expects it.

Probably have nothing to do with news but just a function of market trading

It is better to get these weak hands out now as they would probably just be sellers at higher prices anyway. I know myself and a few others bought recently to hold and you might be surprised how easy the stock moves up when it's time comes.

If shorty is doing the shuffle, it only tells me that he is finding it hard to scare out sellers so he can cover!

I noticed more selling lately as well by Anonymous in last half hour or minutes of trading, maybe they trying to square or shuffle short position before 15th reporting period??

Does anyone hear really think zonte is going to get any higher? Unless a surprize from colombia. The excitement has left the building. The next 3 to 6 months i think will be flat. The excitment needs to come back, to the public not us here.

Weird trading, looks like shorty is back. Anonymous knocks it down to 16 and starts buying there and other platform NEO comes with unusual 52k bid at 16, probably to try and cover.

Lately other platforms besides NEO have only been playing the half cent 1,000 share trade

Here is latest trades and bid/ask by platforms

Gambler wrote: jdate nice find, what comes around goes around, would be quite rewarding if Wings finally proves to be an elephant[/quote

The question now,when will they start drillling ?