June 15, 2011: Zone Resources Inc. (Zone) (TSX-V: ZNR) is pleased to announce additional information gathered during a compilation of historical exploration data on its Labrador Trough iron properties in the Nunavik district of northern Quebec. Results have now been compiled from the drilling program completed in the early 1950s on the Moore-Ross Mountain property which lead to the discovery of the Star (or Star-Marie) iron zone.
The Star showing was tested by thirteen drill holes in late 1952. As with the previously announced results on the Moore showing (see news release dated June 6th, 2011), most of the holes were quite shallow, typically penetrating the overburden and advancing 20 to 25 feet into bedrock. They were apparently designed to test the lateral extent of mineralization in an area of very poor outcrop. The last drill hole, S-14, was somewhat deeper and intersected 154 feet averaging 30.4% soluble iron. Like all the other holes that encountered iron, this hole was collared in mineralization and ended in mineralization.
Of the 13 drill holes, eight encountered iron-bearing rock with average iron content of 30.1% soluble iron over the length of the intercepts. One other hole, at the northeast end of the drill-tested area, cut lower-grade iron with an average grade of 15.8%.
The eight holes that encountered significant iron at the Star showing define a zone 2,800 feet long (in a north-south direction) and between 600 and 1,000 feet wide. This zone is fully open to the north and south, and is only partially closed off on its east and west sides.
The density of drilling on the Star showing is much less than on the Moore showing. It appears that the 59 drill holes on the Moore showing were completed in the summer of 1952, and that as the season progressed, the drill was moved around to test several other targets; time constraints probably forced them to drill on a wide spacing.
Reports accompanying the drill logs and other work by Fenimore Iron Mines Ltd. indicate that the primary iron mineral is hematite, and that the mineralization is quite siliceous, with interbeds of chert and jasper; therby classifying the meneralization as a "taconite".
Technical information in this news release has been reviewed by Mike Magrum, P.Eng., a Qualified Person as defined in NI 43-101.
About Zone Resources Inc.
Zone Resources Inc. is a Canadian Iron ore exploration and development company with 4 major projects situated in the Labrador Trough of Quebec, Canada. The properties are adjacent to Adriana Resources' Lac Otelnuk Project and New Millennium's Kemag and Labmag projects. Historical drilling pre-43-101 on Moore-Ross property shows a significant hole bearing 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.
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
Archie Boyce, Director
Email: archie@zone-resources.com
Telephone: (604) 683 5445 ext 227