Zenith Minerals (ASX:ZNC) has reported a busy June quarter of activities, primarily focussed on gold and lithium exploration. High grade gold results were reported from trial drilling at Kavaklitepe in Turkey, including 7.8m @ 7.3g/t Au with drilling by JV partner Teck ongoing. On the lithium front, new projects were acquired at Split Rocks in the Forrestania Belt as well as the San Domingo pegmatite field in Arizona.
Exploration and Development
San Domingo Lithium USA (100%)
- 100% owned state mineral exploration leases and federal mineral claim applications submitted over the San Domingo pegmatite field in Arizona, USA (ASX Release 7 th June 2016);
- Abundant known lithium bearing pegmatite dykes within Zenith’s new leases & applications stretching over an area 9km by 1.5km;
- Initial continuous rock chip sampling by Zenith’s consultants has returned very encouraging results up to 5m @ 1.97% Li2O including 2.4m @ 2.49% Li2O within 14.1m @ 1.02% Li2O from spodumene rich pegmatites; and
- Lithium as spodumene and amblygonite concentrates along with tantalum was produced from pegmatites within the district during the period 1947 – 1952.
Kavaklitepe Gold Project Turkey
- On-going, preliminary shallow drill testing at the Kuzey (North) Zone at Kavaklitepe returns 7.8 metres @ 7.3 grams per tonne gold (“g/t Au”) from 3.3 m depth (ASX Release 20th July 2016). This result is from the third drill hole (KT-03) completed to date and confirms the presence of high-grade, near surface, gold mineralisation intersected in drill hole KT-02 that returned 9 m @ 5.2 g/t Au from surface (ASX Release 16th June 2016);
- Although gold was intersected in the first diamond core hole (KT-01) core recovery averaged only 24% and was not of acceptable standard, consequently the results from this hole will not be reported; and
- Drill hole KT-04 was abandoned at 17 m depth due to low core recovery, assay results are awaited for hole KT-05, whilst hole KT-06 is currently in progress at 63.5 m depth.
Split Rocks Lithium WA (100%)
- Following the end of the quarter the Company submitted a new 100% owned exploration licence application at Split Rocks covering 22km of potential strike extensions to the new Mt Holland lithium project in the Forrestania Greenstone Belt as described in recent Kidman Resources Limited announcements;
- An ongoing review of previous exploration activity has to date found the majority of exploration focused solely on gold exploration despite the prevalence of mapped pegmatites in the belt. Zenith’s geologists believe that the new application area is prospective for lithium and gold mineralisation; and
- Initial surface mapping and surface sampling to precede planned drill testing.
Mt Minnie Gold Project WA (100%)
- Trenching and drilling planned to test the Woods Prospect where soil geochemical sampling defined a 200m x 200m gold in soil anomaly (ASX Release 26th October 2015) coincident with and extending east of Zenith’s high-grade gold rock chips (up to 11.4g/t gold).
Lithium Project Generation
- Project generation activities and due diligence continued on several new lithium opportunities, with a focus on lithium brines in the USA.