ZPHYF update on the progress at Dawson-Green Mountain Project in Colorado.
After completion of the magnetic survey at the Sentinel Segment of our project (the most easterly area) and finding a strong anomaly we sent our geologists to geologically map the area and also complete a reconnaissance soil geochemical survey. The geological mapping was successful in finding the same rock types that host the gold resources just to the west at the Dawson Segment even though well over 90% of the ground has no rock outcropping – i.e. soil and gravel covered. The reconnaissance soil survey we completed was also successful and suggested that a detailed soil survey may define specific locations with anomalous gold which would be targeted for drilling in our next drill program. The Sentinel Segment represents an exciting exploration target given that it is three times the size of the Dawson Segment which hosts the bulk of our current gold resources and has never been drilled. Drilling success at Sentinel could be a transformative event for Zephyr.
We also now have an Iowa State University student working on a Masters Thesis on our project. He is working under the direction of Dr. Paul Spry, a well known geology professor at Iowa State University and a world class expert on the Broken Hill base metal deposit in Australia. Broken Hill was the largest base metal deposit in the world. His research suggests the geology to the west of the Dawson Project has similarities to Broken Hill and with that in mind, Zephyr has been busy this fall expanding the size of our holdings in this direction. We now control the majority of the trend including the Green Mountain mine area that Dr. Spry is very interested in studying further. Overall, including an area under application, the property totals 2,790 acres over a 7.5 mile (12 km) strike length, representing a 370% increase on our previous holding. This greatly enlarged land position significantly enhances the growth potential of our gold resources, and as well, has added important base metal potential.
2019 should be a very exciting year as we continue to advance our exploration efforts on the Sentinel, Dawson, Windy Gulch and Windy Point Segments, as well as starting additional geological and geophysical work on the newly acquired lands between Windy Point and Green Mountain. The Green Mountain area shows many geological similarities to the Dawson area including the copper-gold bearing massive sulphide zone which is a key marker horizon at Dawson. A historical drill hole drilled by Phelps Dodge at Green Mountain in the 1980’s assayed 18% copper, 4.3% zinc and 181 g/t silver over 4.5 feet. This high grade intercept along with a grab sample that assayed 13.6 g/t gold highlights the excellent exploration potential for Dawson type gold mineralization at Green Mountain.
Successful Trading is the art of minimizing long term risk and maximizing capital allocation.
