Zone Resources(TSXV:ZNR) announced drill results from diamond drill hole ZR11-08 on the Girard property, Quebec. The Company also announced applying for the extension of 1,660,000 warrants from January 19 to January 19, 2014.
As quoted in the press release:
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.
Zone Resources, President and CEO, Charles Desjardins, said:
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.