Zenith Minerals gives update on Burro Creek
Zenith Minerals (ASX: ZNC) has increased its acreage at the Burro Creek East property by 250%, a significant increase to the Company’s land position in Arizona.
· Burro Creek East property increased in acreage by over 250%;
· Significant regional exploration upside as a result of a major increase in project size with new leases staked at Wickieup and Burro Creek East;
· Updated additional Exploration Target for Burro Creek East;
· Maiden Inferred Mineral Resource for the Burro Creek East lithium prospect, for the small area drilled to date (14 drill holes);
· Metallurgical testwork results completed on composite drill samples at Burro Creek East show lithium recoveries up to 85% and potassium recoveries up to 82%;
· Planned programs:
· First-pass drilling Burro Creek West and Wikieup areas;
· Resource extension & infill drilling - Burro Creek East;
· Detailed metallurgical testwork leading to an initial scoping study.
Approvals are in place to commence test drilling (up to 154 holes) at Burro Creek East. JV partner Bradda Head Limited (Bradda Head) has also provided its maiden Mineral Resource, along with an updated additional Exploration Target for the Burro Creek East lithium clay zone.
The Burro Creek East project the focus of this release represents a small fraction (18%) of the joint venture partners total Arizona lithium clay land holdings (5121 acres) that includes Burro Creek East (937 acres), Burro Creek West (1487 acres) and Wikieup (2697 acres).
Within the Arizona lithium clay holdings and forming a small portion of the total prospective area is the Burro Creek East zone that was the subject of initial drill testing in mid-2018 (14 RC holes for 923 metres).
Bradda Head’s independent consulting group SRK Consulting (UK) Limited (SRK) provided a maiden Inferred Mineral Resource estimate of 42.6 million tonnes @ 818 ppm Li (lithium) and 3.3% K (potassium) using a lower cut-off grade of 300 ppm Li for the near surface lithium clay mineralisation at the Burro Creek East area.
The Burro Creek project located in Arizona USA is part of the American Lithium joint venture with Bradda Head Limited.
A new Exploration Target (excluding the Burro Creek East Mineral Resource) for the original Burro Creek East area only (prior to the new ground being acquired) is increased to 20 to 60 million tonnes at 600 to 1000ppm Li.
The combined new Inferred Mineral Resource and new Exploration Target* total islarger than the previously released Exploration Target of 30 to 50 Mt @ 1000 to 1100 ppm Li (ASX release 19th June 2018).