Zenith Minerals (ASX:ZNC) had a busy June quarter, with exploration activities undertaken across nearly all of the Company’s projects in Australia and USA/Mexico. The vast majority of assay results are expected in the September quarter, which is expected to result in strong newsflow across its lithium, gold and base metals projects.
Exploration and Development
Kavaklitepe Gold JV (Turkey)
Programs and budgets finalised, drilling planned to commence early August.
Split Rocks Lithium-Gold Project – WA
Initial geochemical sampling programs completed at Split Rocks (1715 samples). Project located 10km northwest of Kidman Resources Limited’s (ASX:KDR) Earl Grey-Mt Holland lithium deposit and 15km northwest of the Bounty Gold mine. Assay results anticipated mid-August.
Red Mountain Silver-Gold Project – Red Mountain – QLD
Initial reconnaissance field work by Zenith returned highly encouraging silver and gold rock chip sample results up to 114 g/t silver and 0.69 g/t gold. Follow-up mapping and sampling planned.
Waratah Well Lithium-Tantalum Project – Waratah Well – WA
Zone of extensive outcropping pegmatites (3km x 2km), reconnaissance field work by Zenith returned encouraging lithium rock chip sample results up to 0.34% Li2O as well as widespread, high-grade tantalum up to 1166ppm Ta2O5.
Develin Creek Copper-Zinc-Gold-Silver Project-QLD
Surface lithogeochemical sampling to trace the prospective copper-zinc-gold-silver horizons has been completed. Results received and interpretation of data in progress.
American Lithium JV
Zacatecas Lithium Brine Project – Mexico
Shallow auger drill program completed testing for lithium in near surface sediments and brines. Drilling successfully intersects brine in all holes at shallow depths. Assay results anticipated late-August.
Burro Creek Lithium Clay Project – Arizona USA
Metallurgical testwork to date has returned positive results on Burro Creek clay samples, with lithium recoveries to 90% from simple acid leach, and to 75% via calcine-water leach process. Testwork ongoing to assess potential for upgrade by screening and if varying additives in the alternative calcine-water leach approach will further improve recoveries. Results anticipated early-August. In addition, permitting to allow resource drilling to commence is progressing well.
Wilson Salt Flat Lithium Brine Project – Nevada USA
Magnetotellurics (MT) geophysical survey completed with results showing a strong conductive layer in the upper 200 – 300 metres from surface that confirms lithium brine target interpreted from previously reported passive seismic survey and gravity modelling.
The Company continues to assess opportunities for gold, copper and lithium.