Zenith Minerals - Split Rocks Lithium Project - Update
Zenith Minerals (ASX:ZNC) has secured additional lithium prospective tenure near Kidman Resources' Mt Holland lithium discovery. The three exploration licence applications take Zenith's application area in the region to 480sq km. The area has only previously been explored for gold mineralisation. Initial surface mapping and surface sampling will preced drill testing.
Zenith Secures Additonal Lithium Prospective Tenure near Mt Holland Lithium Discovery
- Zenith cements its position as a significant landholder in the emerging Mt Holland lithium district with three additional 100% owned exploration licence applications adjoining its initial Split Rocks application;
- Tenure now covers 480 square kilometres and contains multiple segments of the lithium prospective Forrestania Greenstone Belt, with potential strike extensions to the new Mt Holland lithium project as described in recent Kidman Resources Limited announcements, including an area approximately 2km x 500m immediately adjoining Kidman’s Van Uden North lithium target;
- Ongoing review of previous exploration activity has to date found several references in historic mapping and limited shallow gold focused drilling to pegmatites within the new Zenith application areas that may be potential hosts to lithium mineralisation. Once the distribution of the pegmatite bodies in Zenith’s applications have been compiled this will be the subject of a future ASX release;
- Zenith’s geologists believe that the new application areas are prospective for lithium and gold mineralisation; and
- Initial surface mapping and surface sampling to precede planned drill testing.
Zenith Minerals Limited (“Zenith” or “the Company”) is pleased to advise that it has secured three additional new 100% owned exploration licence applications at Split Rocks in the Forrestania Greenstone Belt of Western Australia, expanding its landholding to 480 square kilometres. As announced to the ASX on the 25th July 2016, Zenith applied for an initial exploration licence at Split Rocks in early March 2016 following the recognition by the Company that the region contained lithium enriched granites, that application was subsequently replaced by the four current licences over a much expanded area following the announcement by Western Areas Limited (ASX quarterly report released 22nd April 2016) of lithium mineralisation in drilling at Mt Hope and South Ironcap in the Forrestania Belt, and Kidman Resources Limited’s recent lithium announcements.
The Split Rocks licences are located 10km northwest of the new Earl Grey lithium pegmatite discovery announced by Kidman Resources Limited (ASX release 15th July 2016) where reported drill intercepts include: 52m @ 1.53% Li2O and 45m @ 1.81% Li2O. A new licence application is also located immediately north along the interpreted strike of the Van Uden-Tasman pegmatites identified by Kidman as high-priority lithium targets (Figure 1).
Compilation of historic exploration activity over the licence area is ongoing but to date has found several references in historic mapping and shallow gold focused drilling to pegmatites within the new Zenith application areas that may be potential hosts to lithium mineralisation. Once the distribution of the pegmatite bodies in Zenith’s applications have been compiled this will be the subject of a future ASX release.
The Company notes that the majority of previous exploration activity reviewed to date is surface sampling focused solely on gold exploration, with no evidence of any lithium analyses during past exploration programs, nor any significant bedrock drilling programs.
Zenith’s geologists believe that the new application areas are highly prospective for lithium as well as gold mineralisation. The Forrestania Greenstone Belt is intruded by abundant pegmatite dykes, many of which are now being shown to be lithium (spodumene) rich.
Following completion of the review of past exploration, initial surface mapping and sampling is planned prior to drill testing.