Zenith Minerals provides June quarter update

Zenith Minerals provides June quarter update

Zenith Minerals (ASX: ZNC) has provided its activities report for the three months to June 30.


Zenith Minerals (ASX: ZNC) has provided its activities report for the three months to June 30.

Kavaklitepe Gold Project - Turkey

Preliminary 4-metre composite assay results reported from the 3,700m RC drill program (38 holes) completed at the Kuzey, Discovery and Guney Prospects: Results from Kuzey included:

·       KT-77: 20.0m @ 15.60 g/t Au, including 12.0m @ 24.67 g/t Au;

·       KT-78: 16.0m @ 4.72 g/t Au, including 8.0m @ 7.99 g/t Au;

·       KT-64: 44.0m @ 1.90 g/t Au, including 8.0m @ 5.50 g/t Au;

·       KT-56: 24.0m @ 2.14 g/t Au; including 4.0m @ 5.45 g/t Au, and

·       KT-53: 36.0m @ 2.06 g/t Au, including 8.0m @ 4.14 g/t Au.

Split Rocks Lithium-Gold Project – Western Australia

Highly encouraging initial reconnaissance surface sample results up to 0.39% Li2O were reported from pegmatite bodies on the recently optioned Dulcie Heap Leach Gold Operation tenure. The Company is continuing to explore its very strong ground position in the Forrestania lithium belt, adjacent to SQM-Kidman’s Mt Holland/Earl Grey lithium deposit.

In addition to the lithium potential Zenith is planning a multi-hole drill program to follow-up on the historic high-grade gold results at Split Rocks (6.0m @ 16.91 g/t Au, 2.0m @ 32.73 g/t Au, 2.0m @ 16.5 g/t Au, 2.0m @ 15.40 g/t Au, 5.0m @ 4.73 g/t Au, 4.0m @ 4.90 g/t Au and 9.0m @ 2.10g/t Au) and to test the target zone where the large gold mineralised shallow dipping structures intersect the preferred BIF host rocks.

Zenith’s proposed drill program will have a dual purpose of testing gold and lithium pegmatite targets.

American Lithium JV

Zenith and Bradda Head are working towards providing the market with an update on the American Lithium JV in the first half of August.

Other Australian Projects

Diamond drilling commenced at the Earaheedy Zinc project. The program will test high-order gravity targets outlined by Zenith's partner Rumble Resources Limited (RTR) that are associated with widespread (20km x 3.5km) zinc mineralisation defined by historic drilling. Better historic drill intersections include: 11.3m @ 4.34% zinc including 2.3m @ 14.42% Zn, 1.15% Pb from 150.2m.

Follow-up field work at the Red Mountain Gold-Silver project returned further highly encouraging silver and gold rock chip sample results up to 2.01 g/t gold and 52.5 g/t silver around 800 metres north of the best results from 2017 sampling. In addition, systematic geochemical sampling outlined a large 2km by 1.5km zoned soil anomaly with peak soil gold result of 1.6 g/t Au and peak silver soil value 2.1 g/t Au.

Field follow-up and assessment of the new zinc soil anomalies reported in the previous quarter at Develin Creek has returned encouraging gossanous rock samples from both anomaly areas.

Zenith announced the sale of its 100% owned Mt Alexander magnetite iron project located in Western Australia to a private Australian company. Zenith received cash of $250,000 and will receive ten annual payments of $250,000 each (total $2.5 million) once the project reaches commercial production, for a total consideration of $2.75 million.

Mali Lithium reaches final approval stage for Goulamina exploitation permit

Mali Lithium reaches final approval stage for Goulamina exploitation permit

St George starts drilling nickel-copper sulphide targets at Mt Alexander

St George starts drilling nickel-copper sulphide targets at Mt Alexander