January 10, 2012: Zone Resources Inc. (Zone) (TSX-V: ZNR)
is pleased to announce the results of diamond drill hole
ZR11-08 on the company's Girard iron ore property in
the Labrador trough of northern Québec. The hole
intersected iron formation with an average of 35.77 % Fe
over 243.00 metres.
Drill hole ZR11-08 was drilled at -50° on a 5 kilometre
long airborne magnetic anomaly in the western part of the
Girard claim group. It was collared in magnetite-rich iron
formation at the base of casing at 6.00 metres. The iron
zone continued for 243.00 metres. Iron contents of
individual samples over core lengths of between 1.50 and
2.00 metres ranged from 23.49% Fe up to a maximum 45.55%
Fe, with an average of 35.77% Fe over the entire 243.00
metre intersection.
To view the airborne electromagnetic map with the plotted
location for drill hole ZR11-08
The dip of the iron zone, based on core angles, is
approximately vertical. The hole was collared in iron
formation, and so did not intersect the full width of the
zone.
"We are excited about the potential of the Girard
Project," stated Charles Desjardins, President and CEO
of Zone Resources. "With numerous magnetic anomalies
over an aggregate length of 75 kilometres, we plan to focus
Zone's initial 2012 drill program at Girard. While our
initial work will continue to focus on magnetite iron
formations, the historical information has lead us to
believe the property has excellent potential to yield
higher grade hematite rich zones which we hope to begin to
follow up on later in 2012."
The Girard claim group encompasses 602 claims with a total
area of 28,238 hectares (69,747 acres). The airborne
magnetic survey has outlined numerous anomalies: the
aggregate length of all the magnetic anomalies believed to
be caused by magnetite iron formation (with an amplitude
over 1,000 nT), is approximately 75 kilometres in length
and over 2 kilometres in width.
Hole ZR11-08 was the first and only hole to date on the
5-kilometre long anomaly. It was situated 21 kilometres
west of ZR11-09, which was drilled on a separate,
9-kilometre long magnetic anomaly. ZR11-09 intersected
35.64% Fe over 137.00 metres. It also was a 50-degree
inclined hole, was also collared in iron formation, and
hence also did not test the full width of the magnetite
zone.
Technical information in this news release has been
prepared and/or reviewed by Michael Magrum, P.Eng., a
Qualified Person as defined in NI 43-101. Analyses were
performed by Activation Laboratories Ltd. using X-Ray
fluorescence.
Furthermore, the Company reports that it has applied to the
TSX Venture Exchange to extend 1, 660,000 warrants priced
at $0.30 due to expire January 19, 2012. The amended terms
will allow the holders of the warrants to exercise them at
the original price of $0.30 until January 19, 2014.
About Zone Resources Inc.
Zone Resources Inc. is a Canadian Iron exploration and
development company with 4 major projects situated in the
Labrador Trough of Quebec, Canada. The properties are near
Adriana Resources' Lac Otelnuk Project and New
Millennium's Kemag and Labmag Projects. Historical
drilling on the Moore-Ross property includes a significant
hole grading 42.9% iron over 197 feet. Over 37 drill holes,
the primary iron mineral is hematite and iron grades ranged
from 17.25% to 44.8%. The Company's shares trade on the
TSX Venture Exchange under the symbol ZNR and on the
Frankfurt Exchange under the symbol 7ZR.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary note:
This report contains forward looking statements. Resource
estimates, unless specifically noted, are considered
speculative. Any and all other resource or reserve
estimates are historical in nature, and should not be
relied upon. By their nature, forward looking statements
involve risk and uncertainties because they relate to
events and depend on factors that will or may occur in the
future. Actual results may vary depending upon exploration
activities, industry production, commodity demand and
pricing, currency exchange rates, and, but not limited to,
general economic factors. Cautionary Note to US investors:
The U.S. Securities and Exchange Commission specifically
prohibits the use of certain terms, such as
"reserves" unless such figures are based upon
actual production or formation tests and can be shown to be
economically and legally producible under existing economic
and operating conditions.
FOR FURTHER INFORMATION ABOUT THE COMPANY, PLEASE
CONTACT:
Zone Resources Inc.
Vancouver Office
Email: info@zone-resources.com
Telephone: (604) 683 5445
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