Trading Symbol: TSX-V: ZFR
OTC-ZPHYF
Shares Outstanding: 66,603,485
HALIFAX, NS, Sept. 23, 2020 /CNW/ - Zephyr Minerals Ltd.
(TSXV: ZFR) (OTC: ZPHYF) ("Zephyr" or the
"Company") is pleased to announce that subsequent to
completing drill hole EP-20-01 on the El Plomo silver-lead-zinc
target, the drill rig was moved to the Dawson gold section where
drill hole DA-20-18 was completed at a depth of 269.8 m (885 ft). This drill hole was located to
twin historic (US Borax ,1981) drill hole GC-44 which contained
visible gold and assayed 11.2 g/t gold over 8.23 m (27 ft) (capped at 40 g/t; true width
approximately 80% of interval). Drill hole DA-20-18 intersected
visible gold at 247.8 m (813 ft), and
assays are anticipated in approximately eight weeks.
Core from this drill hole will be utilized for metallurgical and
engineering test work. Favourable assay results should be
supportive of moving a portion of the inferred gold resources to
the indicated category.
Zephyr is currently developing a go forward plan which will be
announced in the next three weeks. This plan will be within the
scope of funds currently in hand and will focus on exploring and
developing the extensive gold holdings on the Dawson and Green
Mountain sections of the property. The go forward strategy on the
El Plomo silver-lead-zinc target will be determined once all data
is in hand and fully evaluated in the fourth quarter of 2020.
Loren Komperdo, President and
CEO, stated "'Zephyr is well positioned to move forward with its
advanced gold holdings in the current gold bull market. The
property's location near infrastructure and industrial support in
Colorado is a key project feature
enhancing potential development plans. We remain confident these
assets should ultimately enhance shareholder value."
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 (3,430 acres) the Company now
controls a 12.2 km long Dawson-Green
Mountain mineralized trend. 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.
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 pertaining to the Dawson drill program.
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.
