All tagged Zenith Minerals ASX:ZNC
Zenith Minerals (ASX: ZNC) has announced that, following receipt of approvals under the Mining Act, it has now completed the sale of its 100% owned Mt Alexander magnetite iron project in Western Australia to a private Australian company, Mt Alexander Iron Ore Pty Ltd (MAIO).
Zenith Minerals (ASX: ZNC) is pleased to advise that initial 4 metre composite assay results from follow-up drill testing have now been received from the Kavaklitepe Gold Project located within the highly gold endowed western region of Turkey.
Zenith Minerals (ASX: ZNC) has accepted an offer to divest its wholly-owned Mt Alexander magnetite iron project in Western Australia to a private Australian company, Mt Alexander Iron Ore Pty Ltd.
Zenith will receive from MAIO an up-front cash payment of $250,000 as well as ten annual payments of $250,000 each (total $2.5 million) once the project has reached commercial production, for a total consideration of $2.75 million. The sale will free Zenith up to focus on development of its Split Rocks lithium project in WA.
Zenith Minerals (ASX: ZNC) has announced that initial lithium reconnaissance surface sampling completed on the recently optioned Dulcie Heap Leach Gold Operation project has returned highly encouraging lithium results up to 0.39% Li2O. Zenith has commenced an initial assessment of the lithium potential of the area in conjunction with its systematic screening of its large, 100% owned Split Rocks project landholding in the Forrestania greenstone belt.
Zenith Minerals (ASX: ZNC) has executed an option agreement with the owners of the Dulcie Heap Leach Gold Operation, providing the Company with an exclusive right to explore for bedrock gold mineralisation beneath the large laterite-rich gold cap currently being mined and treated on leases located contiguous with Zenith’s Split Rocks project licences, located in the Forrestania greenstone belt, Western Australia.
Rumble Resources, which has the option to acquire at 75 per cent stake in Zenith Minerals' (ASX: ZNC) Earaheedy zinc project in WA, has reviewed historical drilling which identified 35 RC and diamond drill holes intercepted zinc mineralisation. Rumble is planning a drilling program for next month.
Zenith Minerals (ASX: ZNC) spent the December 2018 quarter conducting aircore drill programs and soil sampling at its Split Rocks lithium and gold project to test targets, with first-pass surface samples taken to-date covering about 20 per cent of the company's tenements. Upon drilling, the results returned significant bedrock lithium mineralisation in several instances.
Perth-based explorer Zenith Minerals says it has received assay results from initial follow-up drill testing at its Kavaklitepe gold project in Turkey, which has defined gold mineralisation over the length of the 900m-long Kuzey prospect. Samples from the intervals have been submitted to the assay lab for analysis, with results expected by mid-January.
Zenith Minerals (ASX:ZNC) wrapped up the September quarter having re-commenced aircore drill programs at the Split Rocks lithium-gold project in Western Australia and subsequently started work on a 1,700m RC drill program at the Kavaklitepe gold program in Turkey, while a maiden mineral resource estimate for the Burro Creek lithium clay project in Arizona is pending.
Zenith Minerals (ASX:ZNC) has released the results from the first phase of a large ongoing geochemical sampling campaign at the Tate River gold project in Queensland. Systematic soil sampling (700 samples) and rock samples (16 samples taken by the soil sampling crew) in this first round of work in the north east of the project area have confirmed the presence of gold bearing quartz veins and vein breccia. Infill sampling is planned to be completed this month.