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Zephyr Minerals has announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $2.1 million from the placement of up to 10 million units priced at $0.21 per unit. Each unit consists of one share and one-half a warrant, with the full warrant exercisable at $0.35 for 18 months.

Additional Information:

Company: Zephyr Minerals
Website: http://www.ZephyrMinerals.com
Stock Symbol: TSXV: ZFR
Date Published: Feb 19, 2020
Transcript: Available

Video Transcript:

I’m Nadika Viswakula for Investmentpitch Media

Zephyr Minerals has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $2.1 million from the placement of up to 10 million units priced at $0.21 per unit. Each unit consists of one share and one-half a warrant, with the full warrant exercisable at $0.35 for 18 months.

The shares are currently trading at $0.25.

The company anticipates using the proceeds to advance its Dawson-Green Mountain Project and for general working capital.

Through its wholly owned subsidiary, Zephyr Gold USA, the company holds a 100% interest in the Dawson-Green Mountain property in Colorado.

In 2018, the company expanded its holdings by staking 77 unpatented lode mining claims and acquiring one patented lode mining claim located approximately 3.2 kilometers west of Dawson, forming the Green Mountain section of the Dawson-Green Mountain project.

The property, which consists of three sections, encompasses a mineralized trend that is 12.2 kilometers, or 7.5 miles, in length.

The Dawson section located at the eastern end of the property comprises an advanced gold project with exploration potential.

The Green Mountain section located at the western end of the property is prospective for copper and gold.

The El Plomo section forms the central portion of the property and is believed to be prospective for Broken Hill Type silver-lead-zinc mineralization.

In 2019 an airborne geophysical survey was completed over the property, including the 3.2 kilometer long El Plomo Section, which was the principal target of the survey.

The survey successfully delineated a 2.4 kilometer long magnetic anomaly immediately south of, and paralleling the mineralized trend.

This is an important development as it further confirmed the prospectivity of the El Plomo Section for a Broken Hill Type silver-lead-zinc mineralization, which was announced in September 2019.

Since then, 3D inversion modelling has been completed and indicates the presence of magnetite and pyrrhotite associated with high grade zinc, lead and silver mineralization is directly associated with increased magnetic susceptibilities.

The company is in the planning stages of a proposed July 2020 drill program to test these high priority targets.

For more information, please visit the company’s website at www.ZephyrMinerals.com, contact David H. Felderhof, Executive VP, at 902-446-4189 or by email at info@ZephyrMinerals.com.

I’m Nadika Viswakula for Investmentpitch Media