Zenith Minerals Limited (ASX:ZNC) strikes broad, high-grade lithium mineralisation at Split Rocks - Kalkine Media

Highlights

• Zenith reported the intersection of wide and high-grade lithium mineralisation at the Rio pegmatite target at Split Rocks.
• Currently, the RC rig is drill testing gold targets and will shortly move to drill lithium targets for three targets (11 holes) for which, permits have now been received.
• ZNC is planning on expanding the drill program at Rio and has submitted permits for an additional 50 RC/diamond drill holes.

Shares of Zenith Minerals Limited (ASX:ZNC) zoomed up 8.9% after the company announced preliminary assay results of the current drill program at the Split Rocks project in Western Australia.

Shares of Zenith have increased by 15.28% in the last five trading sessions. The company’s shares offer an attractive 52-week return of 245.83%.

Read Here: Zenith Minerals (ASX:ZNC) commences a dual-purpose drill program at Split Rocks

Drill program hits massive pegmatites with anomalous lithium grades

The initial RC drilling program included over 15 holes targeting four pegmatite targets namely, Rio (4 holes), Dulcie West (2 holes), Estrela (2 holes) and British Hills East (7 holes), at the Split Rocks project.

Lithium Drill Target at the Split Rocks Project Source: ZNC announcement 4 April 2022

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At the first drill target, the Rio pegmatite target, of the current drill program, wide and high-grade lithium mineralisation was intersected. At the target, a single line of four RC holes at 200m spacing has intersected up to 55m-wide pegmatites with anomalous lithium grades in all of them. These drill holes were aimed to follow up on historical diamond holes which had intersected a flat-lying pegmatite. In the past, historical diamond drill holes had intersected up to 65m-thick pegmatites with strongly anomalous lithium.

Also Read: Zenith Minerals (ASX:ZNC) widens mineralised footprint at Earaheedy

Rio Pegmatite Drill Chips Source: ZNC announcement 4 April 2022

Drill hole, ZVRC002, has intersected broad, high-grade lithium mineralisation, including 20m with 1.0% Li₂O (including 10m at 1.7% Li₂O). Altogether, broad pegmatite zones were intersected at three of the four targets.

• Rio - pegmatite up to 55m thick
• Estrella - pegmatite up to 29m thick and
• British Hills East - pegmatite up to 114m thick

The drill hole intercepted an upper and a lower pegmatite. The upper pegmatite included thick, high-grade lithium eucryptite (a lithium aluminium silicate mineral with a formula LiAlSiO₄) mineralisation, which has been confirmed via XRD analysis. The results included –

• 20m @ 1.0% Li₂O, including 10m @ 1.7% Li₂O

At ZVRC002, the hole ended in pegmatite. The XRD analysis of one of the mineralised intervals in the hole delineated petalite as the lithium mineral. Petalite was also identified as the lithium mineral in hole 003. Furthermore, all other holes, ZVRC001, 003 and 004, intersected thick pegmatites with strong anomalous lithium grades (>0.1% Li₂O).

Must Read: Lithium and Tantalum intersected at Zenith Minerals’ (ASX:ZNC) Waratah Well

The Split Rocks Project – Rio Pegmatite Cross Section Source: ZNC announcement 4 April 2022

Split Rocks is an extensive lithium project, which hosts numerous pegmatites target zones, along strike from the Wesfarmers/SQM’s world-class Mt Holland lithium deposit. Currently, the RC rig is drill testing gold targets and will shortly move to drill lithium targets for three targets (11 holes) for which the permits have now been received. ZNC is planning on expanding the drill program at Rio and has submitted permits for an additional 50 RC/diamond drill holes.

Currently, project-wide geochemical screening programs are also underway at Split Rocks. The technical team is working on systematically sampling all prospective zones at the 660km² land package. So far, 3,000 new samples have been collected and the assay results are awaited.

The lithium drilling program is a part of the joint efforts of Zenith and EV Metals Group (EVM). EVM may earn up to 60% interest in lithium rights at Waratah Well and Split Rocks through the sole funding of the feasibility study within 24 months. Zenith will own the remaining 40% of the project share.

Read Here: Zenith Minerals Limited (ASX:ZNC) announces recommencement of drilling at Develin Creek