- The latest assay results from reverse circulation (RC) drilling at the Earaheedy project have significantly expanded the mineralization zone at the Tonka-Navajoh prospect.
- The continuity of the high-grade Chinook-Tonka-Navajoh mineralisation is now inferred to extend over the 18km strike at the Earaheedy Zinc Joint Venture project.
- Around 15% of the assay results of the 50,000m drill program undertaken in 2021 are still pending.
In an exciting update, gold and base metals-focused explorer Zenith Minerals Limited (ASX:ZNC) shared new drill results from the Earaheedy Zinc Joint Venture project in Western Australia, substantially extending its mineralised footprint at the Tonka-Navajoh Prospect.
Shares of ZNC traded at AU$0.34 on 10 March 2022. Backed by action-packed exploration program across portfolio projects, ZNC shares have surged over 36% since the beginning of 2022. The company’s 52-week return stands at more than 180%.
High grade Zn-Pb mineralisation at Earaheedy
Zenith Minerals revealed that the latest drill results have led to the expansion of its Tonka-Navajoh Prospect mineralised footprint to a massive 8km x 1.4km strike. Furthermore, the mineralisation is interpreted to remain open along strike and down dip.
The latest assay results from the 500m spaced reverse circulation (RC) drill lines confirmed continuous mineralisation with high Zn-Pb grades.
High Zn-Pb grade assay results from the 500m spaced reverse circulation (RC) drill lines Source: Zenith Minerals 9 March 2022
The continuity of the high-grade Chinook-Tonka-Navajoh mineralisation is now inferred to extend over the 18km strike at the Earaheedy Zinc Joint Venture project. Zenith owns a 25% free carried interest in the JV project, while Rumble owns the remaining 75% stake. Around 15% of the assay results of the 50,000m drill program undertaken in 2021 are still pending.
Latest assay results from Tonka–Navajoh Prospects Source: Zenith Minerals Announcement 9 March 2022
Mick Clifford, CEO of Zenith Minerals, commented on the Tonka-Navajoh drill results -
“We are very excited to be able to report on these new drill results. The results infer we have the likelihood of continuous zinc-lead mineralisation extending from Chinook in the northwest, all the way through to Tonka-Navajoh in the southeast, a distance of some 18km. We can now see the scale of the system being uncovered, a very exciting development, especially as we see the price of zinc surging through A$5,600/tonne.”
Primary prospects at Earaheedy Project
In April 2021, the JV partners realised the Earaheedy Project as a major Zinc-Lead Discovery with ‘Tier 1’ potential. As of now, there are three main prospects including Chinook and its associated high-grade feeder zone Kalitan, Tonka and Navajoh at the Earaheedy project
Chinook – A broad 500m x 100m scoping drilling has defined a massive shallow 4.1km x 1.9km mineralised footprint that remains open in all the directions. Later in 2021, Rumble had commenced infill drilling at the deposit, which exhibited strong grade continuity and multiple large high-grade Zn-Pb zones.
Kalitan feeder fault zone – An Interpreted high-grade feeder fault mineralisation zone was intersected beneath the 4.1km long x 1.9km wide Chinook zinc-lead mineralisation. At present, the zone has an interpreted strike length of 2.3km.
Tonka discovery – A Zn-Pb-Ag mineralisation at Tonka was discovered during an exploration drilling program at the joint venture ground.
Navajoh discovery – A mineralised zone was discovered at Navajoh, just 4km southeast of Tonka Discovery.