Trading Symbol: TSX-V: ZFR
OTC-ZPHYF
Shares Outstanding: 64,646,905
HALIFAX, NS, July 22, 2020 /CNW/ - Zephyr Minerals Ltd.
("Zephyr" or the "Corporation") (TSX-V: ZFR) is
pleased to report the results of the previously announced
(June 16, 2020) hearing held in
Denver today. The Colorado Mines
and Lands Reclamation Board ("MLRB") has ruled in Zephyr's favour
upholding the previously approved Notice of Intent ("NOI") by the
Colorado Department of Mines Reclamation and Safety ("DRMS").
Zephyr is now cleared to proceed with its 2020 drilling program on
its Broken Hill Type ("BHT") silver-lead-zinc targets in the El
Plomo section of its Dawson-Green Mountain Property. Mobilization
will begin next week. Initial steps will be to erect a wooden drill
platform followed with drill setup. It is anticipated the drill
will start turning in early August.
Loren Komperdo, President &
CEO stated, "We are very pleased the MLRB ruled in Zephyr's favour
and now look forward to drill testing our highly prospective BHT
targets which show many strong similarities to the BHT deposits in
Australia. To the best of our
knowledge this is the only BHT target in North America. BHT deposits, can be world
class deposits with the holy grail of mining, large tonnage and
high grade. This an exciting time for Zephyr shareholders."
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. continues to advance its 100% owned high
grade Dawson-Green Mountain Project in Colorado, USA. After expanding it's land
package to 1,385 hectares (3,430 acres) the Company now controls a
12.2 km long Dawson-Green Mountain
mineralized trend. The central 3.2 km long El Plomo section is the
focus for potential Broken Hill Type silver-lead-zinc
mineralization and the east and west sections, Dawson and Green
Mountain respectively are being targeted for gold. The Dawson
section is currently host to a high grade inferred gold resource.
The Company believes the combined Dawson and Green Mountain
sections encompassing approximately 9 km of mineralized trend
provide excellent resource expansion potential.
To be included in the Zephyr email database for Company updates
please contact info@zephyrminerals.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. The forward-looking statements contained in this
document are based on certain key expectations and assumptions made
by the Company, including, with respect to the use of funds from
the private placement, expectations and assumptions concerning
timing of receipt of required regulatory approvals and third party
consents and the satisfaction of other conditions to the completion
of the exploration work on the Dawson-Green Mountain Property. The
forward-looking statements contained in this document are made as
of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities
laws.
SOURCE Zephyr Minerals Ltd.
