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

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

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

Highlights

  • Zenith has commenced a dual-purpose drill program to test lithium and gold targets at the Split Rocks project in Western Australia.
  • In January, Zenith had announced a partnership with EV Metals Group (EVM) for the lithium projects.
  • Currently, Zenith is drilling four large lithium pegmatite targets, Dulcie West, Rio, Estrela and British Hills East, at the Split Rocks project.
  • Zenith plans to conduct RC drilling at the gold targets after concluding drilling activities at the lithium targets, to define and extend gold mineralisation at Dulcie Far North, Dulcie Laterite Pit, Dulcie North, Estrela, Scott’s Grey & Water Bore.

Shares of Zenith Minerals Limited (ASX:ZNC) increased 5.88% after the company announced the commencement of a large-scale dual-purpose drill program to test lithium and gold targets at the Split Rocks project in Western Australia.

Since the beginning of 2022, shares of Zenith Minerals have surged by more than 44% on the back of significant developments on its lithium and gold projects. The company is committed to delivering strong returns to its shareholders and it is offering a 52-week return of ~176% as of 1 March 2022.

Lithium Drill Program at Split Rocks

The lithium drilling campaign is a part of a wider exploration initiative under the Zenith Lithium Alliance to secure lithium spodumene feedstock. In January, Zenith had announced a partnership with EV Metals Group (EVM) for its lithium projects.

RELATED ARTICLE: Zenith Minerals (ASX:ZNC) surges ~4% as drilling kicks off at Earaheedy JV

Zenith follows a systematic approach towards exploration at the Split Rocks project, where the project stretches over 660km2 in the Forrestania greenstone belt. The emerging lithium district hosts the SQM-Wesfarmers’ Mt Holland/Earl Grey lithium deposit, which contains a mineral resource of 189 million tonnes with 1.5% Li2O.

Zenith Minerals announcement 1 March 2022

The Split Rocks Project with Dulcie Heap Leach Gold Operation Prospect Source: Zenith Minerals announcement 1 March 2022

Currently, Zenith is drilling four large lithium pegmatite targets, Dulcie West, Rio, Estrela and British Hills East, at the Split Rocks project. The company has planned 14 RC holes at these pegmatite targets. The initial drill program can be expanded further.

RELATED ARTICLE: Best-ever drill results achieved at Zenith Minerals’ (ASX:ZNC) Earaheedy zinc project

Lithium drill targets at Split Rocks Lithium Project Source: Zenith Minerals announcement 1 March 2022

Additionally, several lithium surface anomalies have been identified by Zenith, via limited soil and auger sampling program targeting central west and northwest sections of the project and require drill testing. Extensive areas in the central region are yet to be screened by surface sampling. Surface geochemical sampling programs have also commenced to assessing these areas and auger and soil sampling crews are already on site. As part of the project-wide geochemical screening 1500 new samples have already been collected.

RELATED ARTICLE: Why are Zenith Minerals Limited’s (ASX:ZNC) shares scaling new peaks? 

Gold Potential at Split Rocks

Zenith is also assessing gold potential at the Split Rocks project. Final assay results for the 150-hole aircore/slimline RC drill program have been received. Zenith had concluded a 150-hole Infill and extensional slimline RC/aircore drilling program at the Dulcie Far North, Dulcie North, Scott’s Grey, British Hills East and Water Bore prospects.

Gold targets and RC - Aircore Drill Results at Split Rocks Project Source: Zenith Minerals announcement 1 March 2022

A new shallow gold mineralisation was intersected. Initial 4m composite assay results included

▪ 4m at 1.3 g/t Au (eoh)

▪ 4m at 1.2 g/t Au

▪ 4m at 1.0 g/t Au

▪ Additional 17 shallow intersections of gold mineralisation with grades more than 0.4 g/t Au.

Previously, in January, the company had announced initial results of the 150-hole drilling program -

▪ 12m at 2.9 g/t Au

▪ 8m at 1.8 g/t Au, including 4m at 3.1 g/t Au

▪ 8m at 1.7 g/t Au, including 4m at 2.8 g/t Au

Zenith plans to conduct RC drilling at gold targets after concluding drilling activities at lithium targets, to define and extend gold mineralisation at Dulcie Far North, Dulcie Laterite Pit, Dulcie North, Estrela, Scott’s Grey & Water Bore. The company plans to undertake a 45-hole program. Furthermore, diamond drilling at the gold targets will provide material for additional gold-leach testwork.

RELATED ARTICLE: Zenith Minerals’ shares zoom after drill results show encouraging signs

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