Nova Scotia headquartered Zephyr Minerals Ltd announced yesterday that trenching results on MC and have been negative while more positive results have come from its MC-2 gold properties in Zimbabwe.
“Unfortunately results demonstrated the gold mineralization at MC to be discontinuous, generally occurring as short high grade gold lenses and generally less than one meter in thickness……. On the MC-2 property, the gold mineralized quartz veining in the shear zones have better continuity and stronger gold mineralization than at the MC property,” the company announced in a statement on its website.
Zephyr said the object of the excavator trenching program completed on both properties in late November was to provide insight into the continuity of the mineralized zones prior to commencing a proposed diamond drilling program, as well as to explore potential new parallel zones, which if discovered would assist in determining total depths for the proposed drill holes.
“Based on these results it has been determined that the potential for a large high grade gold deposit similar to those in the Red Lake camp in Ontario, Canada, is remote on the MC property, and as such no diamond drilling will be conducted,” Zephyr said about MC.
The company also added that it is likely to relinquish the option on the MC property at the end of the option term unless the current small scale miner uncovers new gold zones of potential interest to Zephyr's attention during his currently active mining and prospecting activities.
The company says more positive results on MC-2 will require further prospecting which will start in Q2 2024.
“On the MC-2 property, the gold mineralized quartz veining in the shear zones have better continuity and stronger gold mineralization than at the MC property. The Main Reef is presently limited to a maximum length of 70 meters as defined by trenching. Widths at the Main Zone are 1 to 1.5 meters with gold grades up to 13.3 g/t and silver grades up to 176 g/t.
“The recent trenching program has discovered a new gold bearing quartz vein grading 5.7 g/t gold over 0.10 meters. This new discovery is located 200 meters south east the Main Reef.
“The Company has determined that additional exploration work needs to be done before embarking on a diamond drill program. This work will include additional trenching of the new discovery as well as additional exploration along trend of the Main Reef to see if there is a continuation based on a pinch and swell model. Additional exploration work is proposed to start after the rainy season's end in April or May, 2024.
Zephyr says it remains invested in Zimbabwe and continues to evaluate additional projects currently being mined by small scale miners for potential acquisition or joint venture and is awaiting the approval of two exclusive prospective order applications with a combined cover a total of approximately 1,240 square kilometers, and host to multiple areas with favourable discovery potential for large gold deposits.
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