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Zenith Minerals (ASX:ZNC) expands drilling campaign at Earaheedy Zinc JV

Highlights

  • Zenith Minerals has reported an expansion in the original budgeted drill program at the Earaheedy Zinc JV.
  • ZNC has completed 50% of the original drill program, and all assays are currently pending.
  • The expanded drill program will continue to focus on the boundary limits of the major Chinook Deposit discovery and also push down towards the Magazine and Navajoh Prospects, located around 10km to the southeast within the EJV.
  • A massive amount of geological data has been generated

Zenith Minerals Limited (ASX:ZNC) recently notified the ASX that the ongoing drill campaign at the Earaheedy Zinc JV (EJV) has been expanded to 40,000m. The expansion comes in the wake of the recent announcement of an 125% increase in the zinc-lead mineralised footprint at EJV.

The expansion indicates a 30% increase in the original budgeted drill program at the EJV and it will continue to focus on the boundary limits of the Chinook Deposit. Additionally, drilling will now focus on the Navajoh and Magazine prospects, ~10km to the southeast.

RELATED ARTICLE: Zenith Minerals’ (ASX:ZNC) $6.0M capital raising to advance core Australian projects

A third reverse circulation rig mobilised to the project location will aid in scoping out the total size of the shallow northeast dipping zinc-lead-manganese-silver mineralisation at the Chinook prospect.  The drilling will focus on the inferred feeder structures, where near-surface higher-grade Zn-Pb-Mn-Ag mineralisation exists, once the limits of the mineralisation are defined.

Chinook Prospect Drill Plan (Source: ZNC Announcement 08/07/21)

Zenith Minerals has been managing work across its pipeline of prolific land assets with a focus on its core projects while work continues at its partner-managed projects.

ZNC’s Earaheedy Zinc JV is a partner-managed project located in Western Australia, with ZNC holding 25% free-carry to the end of the bankable feasibility study, while Rumble Resources Limited (ASX:RTR) holds the remaining 75% interest.

Besides the interest in EJV, ZNC holds (in its own right) leases within the Earaheedy basin, which span over approximately 100 lineal kilometres of favourable stratigraphy. 

RELATED ARTICLE: Zenith Minerals (ASX:ZNC) defines gold-copper drill targets at Red Mountain project

ZNC’s Landholdings in the Earaheedy Basin (Source: ZNC Announcement 23/08/21)

Planned work and assay results

ZNC has concluded half of the original 30,000m budgeted drill program, and all assays are currently pending. There are a total of four drilling rigs on-site backed by a team of eight geologists and thirteen field crew.

ZNC has gathered significant geological data with 88 RC holes completed over 14,988m. Moreover, assays are awaited on 32 holes, samples from 16 holes are currently being transported to the lab. and the remaining 36-hole samples remain on site. Focused on the ore zones, the sonic drilling campaign is in progress with core recovery at 95%.

Mineralisation Zone –Sonic Drilling Core – EHS001 (Source: ZNC Announcement 23/08/2021)

VIDEO INTERVIEW: Expert Talks With Kalkine || Mr Peter Bird, Executive Chairman of Zenith Minerals 

Bottom Line

The work at EJV is planned to be fast-tracked through a widespread exploration program reinforced by a recent capital raising worth AU$40 million by its JV partner RTR. ZNC has reported notable progress at the EJV and looks forward to providing results from the samples sent to the lab.

ALSO READ: Zenith Minerals boosts footprint at Earaheedy Basin, bags 7 new ELs

ZNC stock was trading at AU$0.200 at 01:21 PM AEST on 27 August 2021.

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