Zephyr Provides Dawson Gold Update
Rhea-AI Summary
Zephyr (OTC: ZPHYF) completed the third quarter of its groundwater monitoring and analytical program around the Dawson Gold deposit in Colorado.
The fourth quarter is planned for September 2026, with the five-quarter program targeted for completion by year-end and a mining permit resubmission to DRMS in January 2027.
AI-generated analysis. Not financial advice.
Positive
- Third quarter of groundwater monitoring program successfully completed
- Fourth-quarter monitoring scheduled for September 2026 with clear timeline
- Five-quarter monitoring program targeted for completion by year-end 2026
- Planned mining permit application resubmission to DRMS in January 2027
Negative
- Mining permit for Dawson Gold not yet approved or in place
- Project advancement depends on future DRMS permitting decision
News Market Reaction – ZPHYF
On the day this news was published, ZPHYF gained 8.50%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Halifax, Nova Scotia--(Newsfile Corp. - June 9, 2026) - Zephyr Minerals Ltd. (TSXV: ZFR) (OTC Pink: ZPHYF) ("Zephyr" or the "Company") is pleased to report the successful completion of the third quarter of its comprehensive groundwater monitoring and analytical program at and surrounding the Dawson Gold deposit. The fourth-quarter program is scheduled for September, 2026 keeping the Company on track to complete the full five-quarter program by year-end. Upon receipt and review of all analytical data, Zephyr intends to resubmit a mining permit application to the Colorado Division of Reclamation, Mining and Safety (DRMS) for its
About Dawson Gold Property
The Dawson Gold Deposit hosts an Inferred Mineral Resource1 prepared in accordance with National Instrument 43-101 ("NI 43-101") of 343,000 tonnes grading 12.11 g/t for 133,500 ounces of gold at a 5 g/t cut-off with no top cut, and 116,300 ounces of gold at 10.55 g/t with a 40 g/t top cut. The estimate has an effective date of July 19, 2013. No updates to the resource estimate have been made to incorporate the results from drilling programs completed between 2017 and 2020.The deposit is open at depth, with exploration potential to the east and west. A Preliminary Economic Assessment2 ("PEA") was prepared in accordance with NI 43-101 with an effective date of March 21, 2017. Utilizing a gold price of
About Zephyr Minerals Ltd.
Zephyr Minerals is mission focused on obtaining a mining permit for its
Notes
1 The Report is titled Resource Estimate Technical Report for the Dawson Property Fremont County, Colorado, USA, dated September 6, 2013, and was prepared for Zephyr by Andrew Hilchey, P.Geo., Mercator Geological Services Limited, Isobel Wolfson, M.Sc., P.Geo, and Mark Graves, P.Geo..
2 The report is entitled "National Instrument 43-101 Technical Report for the Dawson Property, Colorado, USA", effective March 21, 2017 (the "Technical Report"). The Technical Report was prepared by independent engineering firm, Golder Associates Ltd., with input from a number of other specialized and experienced consulting firms, and is in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. This PEA is preliminary in nature and includes inferred mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There has been insufficient drilling to define the inferred resources as indicted or measured mineral resource; however, it is reasonable to expect that the inferred mineral resources could be upgraded to indicated and possibly measured resources with continued drilling. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future.
Qualified Person
Brian Arkell, B.S. Geology and M.S. Economic Geology, SME (Registered Member), AusIMM (Fellow) and SEG (Fellow), a Director of the Company, and a Qualified Person as the term is defined under National Instrument 43-101, has reviewed and approved the scientific and technical disclosure contained in this press release.
For further information please contact:
Loren Komperdo, President & CEO
T: 902 706-0222
info@zephyrminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by the Company. The forward-looking statements contained in this document are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300724