Trading Symbol: TSX-V: ZFR
OTC-ZPHYF
Shares Outstanding: 66,603,485
HALIFAX, NS, Dec. 14, 2020 /CNW/ - Zephyr Minerals Ltd.
(TSXV: ZFR) (OTC: ZPHYF) ("Zephyr" or the "Company")
is pleased to announce that drill hole DA 20-18 intercepted 5.71
g/t gold over 8.2 m (27 ft)
commencing from 242.3 m, including
12.14 g/t gold over 3.7 m (12
ft) commencing from 246.9 m. Drill
hole DA-20-18 was drilled to twin historical drill hole *GC-44
which intercepted 10.22 g/t gold over 8.2
m (27 ft) (capped at 40 g/t) commencing from 242.3 m. True intercept widths are estimated to
be approximately 80% of the reported sample lengths. This portion
of the gold deposit is characterized by coarse nuggety gold; the
distribution of which is variable in the 8.2
m gold-mineralized envelope. Additional infill drilling
and/or bulk sampling should ultimately provide a reliable grade
estimate for this high grade portion of the deposit. Core from this
drill hole will be utilized for metallurgical and engineering test
work.
Loren Komperdo, President and CEO
stated "The favourable assays returned in drill hole DA-20-18
increase confidence in historical drilling data that forms the
basis of the current **National Instrument 43-101 (NI 43-101)
mineral resource estimate for the Dawson section. They also provide
support for the Company's ongoing program which includes working to
complete and file an application for a mining permit in the first
half of 2021."
Zephyr Minerals Core Handling Protocols
Standard sampling procedures were followed whereby HQ core was
cut using a diamond saw and sampled. One-quarter of the core was
placed in plastic sample bags and the other 3/4 was left in the
core box for reference. The sample weight used by the laboratory
was approximately 0.5 kg. Analytical standards, duplicates, and
blanks were inserted at approximately every ten sample intervals.
The core samples were shipped from Canon
City, Colorado to Bureau Veritas Commodities and Trade Inc.
in Reno, Nevada for sample
preparation and analysis. All samples were assayed using fire assay
and Screen Metallic Assay method for gold and Zephyr staff and
consultants maintained a secure chain of custody for both core and
core samples.
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. continues to advance its 100% owned high
grade Dawson-Green Mountain property
in Colorado, USA. After expanding
it's land package to 1,385 hectares (3,574 acres) the Company now
controls a 12.2 km long Dawson-Green
Mountain mineralized trend. The Company believes the
combined Dawson and Green Mountain sections encompassing
approximately 9 km of mineralized trend provide excellent mineral
resource expansion potential.
To be included in the Zephyr email database for Company updates
please contact info@zephyrminerals.com.
*Validated historical drilling data from US Borax Ltd. as
referenced in the 2013 NI 43-101 technical report referred to
below.
** Details of the current mineral resource estimate for
the Dawson Section can be found in the report titled "Resource
Estimate Technical Report for the Dawson Property Fremont County, Colorado, USA, dated
September 6, 2013, (the "Report")
prepared for Zephyr by Andrew
Hilchey, P.Geo., Mercator Geological Services Limited,
Isobel Wolfson, M.Sc., P.Geo, and
Mark Graves, P.Geo.. The Report is
available on sedar.com.
Mr. Scott Parks, P.Geo., is
the qualified person as defined by National Instrument 43-101 and
has reviewed and is responsible for the technical information in
this news release.
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.
