Zephyr Minerals Ltd. announced that on January 12, 2022, the Company entered into an option agreement to acquire up to 75% of a shear hosted gold property in Mashonaland Central, Zimbabwe from an arm's length citizen of Zimbabwe. The property is approximately 100 hectares in size. The MC Property is currently being mined on a small scale from several shafts and adits, along a sheared greenstone (low grade metamorphosed volcanics) primarily composed of metabasalt.

Grab samples collected by Zephyr from the main gold mineralized shear zone in the shafts and adits, as well as outcrops, returned assays ranging from trace to 11.5 g/t gold. The highest gold assay, 40.1 g/t, was obtained from a sample comprising crushed metabasalt and quartz collected from an unprocessed ore stockpile. The small-scale miner is processing the gold mineralization by gravity separation onsite.

A sample taken from the tailings, being the waste material after gravity separation, assayed 4.4 g/t gold. The high gravity recovery may indicate the gold is in native form. The main shear trends northeast/southwest and has a strike length of at least 375 meters as demonstrated by the current mine workings.

Thickness of the shear zone is not known due to poor rock exposure. Of particular interest are assay results from two metabasalt wall rock samples both barren of quartz; one sheared and one unsheared that assayed 10.3 g/t gold and 4.4 g/t gold respectively. The property lies within Archean aged greenstones and was mapped on a 1:100,000 scale by the Rhodesia Geological Survey between 1968 and 1972.

The local area was mapped as metabasalt with minor interbedded schist. A major north-south trending regional fault obliquely crosses the eastern boundary of the MC Property. Under the terms of the option agreement, Zephyr through its wholly own Zimbabwean subsidiary, Sutter Mining (Private) Limited can acquire 75% of the Property by paying USD 75,000 over four years.

In addition, in the event a mine is built, Sutter will pay the Owner USD 250,000 upon a declaration by Sutter of commercial production. The Owner is permitted to continue small-scale mining within prescribed parameters from areas currently being mined until Sutter makes a decision to transfer the Claims into a new operating company (Newco), owned as to Sutter 75% and the Owner 25%.