Zone Resources Inc.: 35.98% Iron Intersection Over 24 Metres on the Moore Iron Property, Northern Quebec
Zone Resources Inc. (TSXV:ZNR,FWB:7ZR) announced that it has received analyses of core from the top of drill hole ZR11-05 on the Moore Iron property in the Labrador Trough of Northern Quebec.
As quoted in the press release:
Diamond drill hole ZR11-05 was drilled on a coincident magnetic and gravity anomaly on a target area called the North Slope. It intersected iron formation from the collar at 3.00 metres to 88.20 metres. The remaining 61.2 metres is visually identical to the first 24 metres with assays pending. The hole was drilled vertically with core angles indicating that the iron formation is dipping at between 20 and 30 degrees.
The diamond drill program is continuing. Two additional exploratory holes have been completed on the North Slope target area. Hole, ZR11-07, which tested a combined magnetic and gravity anomaly, intersected magnetite iron formation from the casing at 13.90 metres, to 169.30 metres, with minor interbedded sandstone sections.
The drill is now being moved to the Girard property, where several strong and extensive magnetic anomalies were defined by the airborne magnetic survey carried out earlier this year. Ground reconnaissance has confirmed the presence of wide zones of magnetite. Management intends to test a number of these very large targets before the winter freeze-up.