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Mineralised envelope doubles at Zenith Minerals’ (ASX:ZNC) Earaheedy Zinc-Lead-Silver JV

Summary

  • Zenith Minerals has received encouraging initial assay results from a follow-up drilling program at the Chinook Zinc-Lead discovery.
  • The program is part of the 30,000m drilling campaign at the Earaheedy Joint Venture (EJV).
  • The results, which include very thick mineralised intersections, confirm the expansion of the surface expression of the mineralised envelope at Chinook.

Among several key developments of Zenith Minerals Limited (ASX:ZNC) is the ongoing initial follow-up drilling as part of the 30,000m drilling program at the Earaheedy Joint Venture (EJV). The follow-up drilling is intended to scope out the scale potential of the Chinook Zinc-Lead discovery.

ZNC owns a 25% free carried interest in the EJV, with Rumble Resources Limited (ASX:RTR) owning the remaining 75% interest.

The project comprises two key prospects, namely Chinook and Magazine, which are located at a distance of 12km from each other.

Earaheedy Project Location (Source: ZNC Announcement 08/07/2021)

PREVIOUS UPDATE: Zenith Minerals (ASX:ZNC) shares surge on strong massive copper sulphide results at Develin Creek

New results confirm wide zones of mineralisation

ZNC has received assays from the first four reverse circulation (RC) drill holes, while laboratory assays for the remaining nine holes are pending. All 13 holes tested positive using pXRF.

The new results indicate very thick mineralised intersections as follows:

Data Source: ZNC Announcement 08/07/2021

The initial assay results from the recently initiated drilling program at the Chinook Zinc-Lead discovery have established broad zones of mineralisation and have substantially extended the mineralised envelope at the zinc discovery to 3km by 1.8km.

Chinook Prospect – Drill Plan with Section Location (Source: ZNC Announcement 07/07/2021)

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Opportunistically, the mineralisation envelope has increased to 3km by 1.8km from the previously known dimensions of 2km by 1.2km, which is a double in areal extent.

Besides this, a very broad near-surface up-dip oxide mineralisation highlights the possibility for large-scale oxide resources.

ZNC also intersected a very thick vertical zone of mineralisation with a higher-grade core through the first RC drill hole 500m along strike to the northwest.

The mineralisation has been lifted on several instances by the normal faults on the eastern drill limits of the Chinook prospect to open pit-type depths and is still open. Further, confirmation for NW to NNW-orientated gravity trends associating with the earlier inferred feeder faults that underlie Chinook has been received through the initial gravity survey.

To date, ZNC has completed roughly 8% or 13 holes (2,500m) of the planned program. The Company looks to advance the Chinook discovery through various exploration programs that would unravel the true potential of the prospect.

Source: ZNC Announcement 08/07/2021

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Way forward at EJV

The Company is continuing with the RC and diamond drilling at the project, scoping out the limits of the Zn-Pb-Mn-Ag mineralisation at the Chinook prospect.

At present, there is one RC and diamond drill rig onsite, while RC rig 2 and 3 are expected to arrive over the coming weeks.

ZNC seeks to enhance its understanding of the overall extent of mineralisation. Once this is achieved, the Company will focus on defining zones of higher-grade Zn-Pb-Mn-Ag mineralisation.

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ZNC also looks forward to undertaking a trial sonic drilling campaign covering EHRC044, EHRC050 and EHRC061 (twinning drill holes) with a view to enhance the recovery of cored material.

Moreover, the Company has planned a gravity survey along strike between Chinook and Magazine to assist with the targeting of the prospective Zn-Pb-Mn-Ag mineralisation.

ZNC stock was noted at AU$0.260 on 8 July 2021.

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