Zonte permitted
Project X, is an advanced gold exploration property, wherein a total of 14 historic drill holes were completed during 1997 - 1998. Note, none of the drill core was located for independent verification and the drill hole assay data was taken from publicly disclosed press releases pre-National Instrument 43-101 standards and hence the data is historic in nature.
Both companies have been working together to secure the rights to the property over the last year with Southern Sky securing the five-year option agreement with a Colombian private company. Going forward, Southern Sky will be the operator and Zonte retains a 25% carried interest to a production decision in the option agreement. Zonte personnel have completed a number of due diligence visits to the property over the last 7 years. This included sampling known mineralized structures, confirming drill pads locations and confirming with the local association the previous drilling program. Geologically, the property appears to be a porphyry system with numerous breccia and vein structures. Southern Sky is in the process of mapping and sampling the property with local geological consultants and planning a geophysical survey. Southern Sky is completing a NI 43-101 document with the intention of listing on the TSXV.
About Zonte
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