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Zenith Minerals (ASX:ZNC) sets the drill in motion at the Develin Creek project

Highlights

  • Zenith Minerals has set the drill in motion to test eight copper-zinc targets at its Develin Creek copper-zinc project.
  • Eight drill targets are spread across the Snook and Wilsons prospects and close to the current Sulphide City deposits.
  • The program is expected to conclude in around five weeks, and assay results shall be available after around 3-4 weeks.

Zenith Minerals Limited (ASX:ZNC) has commenced a multi-rig drill program at its Develin Creek copper-zinc massive sulphide project located in Queensland. This program is a part of a bigger drill program of around 40 holes, which shall assess the Sulphide City resource area.

Recent drilling in this area has returned strong massive copper-zinc sulphides in a twin hole program, including the following:

  • 34m @ 3.5% Cu+Zn, incl 10m @ 6.0% Cu+Zn from ZDCDD003
  • 29m @ 3.5% Cu+Zn, incl 12.3m @ 6.7% Cu+Zn from ZDCDD002

Diamond Drill Hole ZDCDD002 (Source: ZNC Announcement 02/09/21)

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

These results highlight a possible expansion in copper grade within the higher-grade parts of the current Inferred Mineral Resource. However, there seems to be a need for further drilling to check if this trend can be generalised across the deposit.

Focus of the drill program

Through the current three-drill rig program, ZNC intends to drill test eight copper-zinc targets at the project, including four at Snook and Wilsons prospects (S1–S2 and W1–W2) and four other located close to the current Sulphide City JORC massive copper-zinc sulphide deposits (T1–T4).

First drill rig on site (Source: ZNC Announcement 02/09/21)

“We are really excited to report that the Develin Creek follow-up drilling is now underway with one RC drill rig, shortly to be joined by a second RC rig and a diamond drill rig.

As most investors would be aware, copper-rich VMS systems often occur in swarms or clusters. At Develin Creek, we already have an established JORC-Compliant resources and 8 additional high-priority targets to assess, which is suggesting the potential for a typical cluster of VMS deposits. Additional success would add real value to the business!

We remain very positive in relation to the outlook for copper demand and the coincident lack of supply elasticity. Copper remains the ultimate “green” metal in the context of a more sustainable global future”.

  • Peter Bird, ZNC’s Chairman

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

The Company projects that the overall drilling program shall span over around five weeks, and assay results are expected to be available around 3-4 weeks later.

Snook Drill Targets

ZNC had completed a dipole-dipole IP survey (DDIP) comprising three trial survey lines at Snook, which successfully identified many strong chargeability anomalies up to 40mv/V in areas of high resistivity. 

Plan of Snook Prospect (Source: ZNC Announcement 02/09/21)

Moreover, the S1 and S2 targets lie beneath the current drill holes, which hosted strongly anomalous copper-lead-zinc and precious metals and shall be tested by a series of up to 7 drill holes. The IP anomaly provides additional upside as it remains open to the south.

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

Wilsons and Sulphide City Drill Targets

ZNC also concluded a DDIP survey comprising seven survey lines at the Wilsons prospect extending north, which helped in defining a strong chargeable anomaly beneath the target area obscured by soil.

Plan of Wilsons Prospect (Source: ZNC Announcement 02/09/21)

This anomaly coincides with a resistive high, and the W1 and W2 targets are similar to Snook in terms of consistency with a zone of sub-surface disseminated sulphides that typically form as feeder zones below volcanic-hosted massive copper-zinc sulphide deposits.

Now, ZNC has proposed 2-3 drill holes in order to test the Wilsons IP targets. 

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

A reinterpretation of geology, geochemical and airborne electromagnetic survey (EM) data helped in defining four additional targets, from T1 to T4. These targets are located proximal to the current Sulphide City JORC massive copper-zinc sulphide deposits.

Bottom Line

ZNC looks forward to building upon the current JORC resource and add potential tonnage to the Develin Creek copper-zinc volcanogenic massive sulphide (VMS) inventory through the ongoing drilling. Moreover, the Company remains optimistic about the outlook for copper demand and the coincident lack of supply elasticity.

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

ZNC shares were noted at AU$0.250, up by 8.695%, at 02:50 PM AEST on 06 September 2021.

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