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zonte metals inc (ZON) Snapshot

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03/18/14 - C$0.14
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zonte metals inc (ZON) Details

Zonte Metals Inc. acquires, evaluates, and explores mineral properties in Canada. It primarily explores for gold. The company has interests in the Wings Point gold property, which consists of 6 mineral exploration licenses covering 495 claims and an area of approximately 12,375 hectares located in the Province of Newfoundland and Labrador in Canada. Zonte Metals Inc. was formerly known as Empire Capital Corp. The company was founded in 2009 and is headquartered in Toronto, Canada.

Founded in 2009

zonte metals inc (ZON) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$175.0K
Chief Financial Officer
Total Annual Compensation: C$57.0K
Compensation as of Fiscal Year 2014.

zonte metals inc (ZON) Key Developments

Zonte Metals Inc. Auditor Raises 'Going Concern' Doubt

Zonte Metals Inc. filed its Annual on May 22, 2014 for the period ending Jan 31, 2014. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Zonte Metals Inc., Annual General Meeting, Jul 24, 2014

Zonte Metals Inc., Annual General Meeting, Jul 24, 2014., at 11:00 Atlantic Daylight. Location: Suite 2008, Purdy's Wharf, Tower II. Agenda: To receive the financial statements of the corporation for the year ended January 31, 2014, together with the report of the Auditor thereon; to appoint the auditor of the corporation for the forthcoming year and to authorize the directors to fix the auditor's remuneration; to elect directors of the corporation for the forthcoming year; to approve the corporation's incentive stock option plan; and to transact such further and other business as may properly come before the meeting or any adjournment thereof.

Zonte Metals Inc. Extends Mineralization at Wings Point and Plans Phase 1 Drill Program

Zonte Metals Inc. provided the following update on the Wings Point Gold Project located approximately 30 kilometers north of Gander, Newfoundland. Zonte is exploring the property for sediment hosted bulk tonnage gold mineralization, an interpretation model which has not previously been tested in this area known to host narrow high-grade gold structures. Zonte's recent activity has included the review and compilation of existing data and extension of the zone of known gold mineralization, approximately 130 meters to the northeast, with a rock sample assaying 1.02 grams of gold per tone (g/t Au.) The Wings Point Gold Project is host to three un-drilled parallel targets which were identified from rock and soil sampling and an induced polarization geophysical survey. Bedrock surface mineralization, which is partially exposed in a working gravel pit, is characterized by disseminated arsenopyrite and pyrite hosted in shales, siltstones and sandstones. The IP pseudosections show two large chargeability and resistivity anomalies, coincident with gold in bedrock samples, having dimensions of up to 1200 meters long by 75-150 meters wide and 600-700 meters long by 100 meters wide, named the Western and Eastern Anomalies, respectively. Both zones have been observed in the IP pseudosections to 75 meters depth. One IP line was run to 150 meters depth penetration and both targets are observed to the extended 150 meters penetration and remain open to depth on that particular line. A third anomaly, named the Arsenic-in-soil Anomaly was identified by high arsenic-in soil assays, is coincident with gold in rock samples and a large resistivity anomaly. A recently assayed rock sample, taken along the forest access road, appears to extend the zone of known gold mineralization to the northeast beyond the geophysical grid. The sample, which assayed 1.02 g/t Au, was taken about 130 metres beyond the northern end of the geophysical grid, where an excavator, completing maintenance along the access road, exposed a zone of bedrock mineralization. This sample is along strike from the As-in-soil Anomaly and believed to represent the extension of this anomaly. Based on the nature and character of the mineralization and the possibility the As-in-soil and Eastern Anomalies have the similar resistivity signature these anomalies could be one larger target versus two individual targets. The company has identified multiple drill targets on the Wings Point Project and is preparing to complete a Phase I drill program to test the anomalies in the subsurface. Drilling proposals have been requested from a number of drill contractors in anticipation of a spring drill program. Also, based on the recent review and compilation, the company has decided to drop the Wings Point South Option to focus on the main Wings Point North targets as well as opportunities in Colombia, where the company continues to review, negotiate and pursue various acquisition initiatives.


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