Zenith Minerals (ASX: ZNC) has provided an update on a recent program of 3 diamond drill holes at the Sulphide City resource area confirmed high-grade copper and zinc zones with associated gold and silver in massive sulphides.
- A three-drill rig program has kicked off at the Develin Creek copperzinc massive sulphide project in Queensland. A total of eight copperzinc targets are to be drill tested at Develin Creek. These include:
- Four targets at Snook and Wilsons prospects, and
- Four additional targets located close to the existing Sulphide City JORC massive copper-zinc sulphide deposits (refer to ASX Release 28-Jun-21 for further details on these targets).
- This current initiative is part of a larger drill program of approximately 40 holes that in addition to the testing of the 8 new targets will assess the Sulphide City resource area where recent drilling returned strong massive copper-zinc sulphides in a twin hole program including (ASX Release 5-Jul-21).
- 34m @ 3.5% Cu+Zn, incl 10m @ 6.0% Cu+Zn, and
- 29m @ 3.5% Cu+Zn, incl 12.3m @ 6.7% Cu+Zn.
- This drilling is part of a broader plan to build upon the existing JORC resource and add potential tonnage to the Develin Creek copper-zinc volcanogenic massive sulphide (VMS) inventory.
Commenting on the Develin Creek drill program Chairman Peter Bird said:
“We are really excited to report that the Develin Creek follow-up drilling is now underway with one RC drill rig, shortly to be joined by a second RC rig and a diamond drill rig.
As most investors would be aware, copper rich VMS systems often occur in swarms or clusters. At Develin Creek we already have an established JORC Compliant resources and 8 additional high priority targets to assess, which is suggesting the potential for a typical cluster of VMS deposits. Additional success would add real value to the business!
We remain very positive in relation to the outlook for copper demand and the coincident lack of supply elasticity. Copper remains the ultimate “green” metal in the context of a more sustainable global future”
The Planned Drill Program and Estimated Timeline:
A total of eight copper-zinc targets and Sulphide City to be drill tested:
- Sulphide City – 4 targets (T1 – T4)
- Snook – 2 targets (S1 – S2)
- Wilsons – 2 targets (W1 – W2)
- Sulphide City – resource drilling
Drilling of the total program is anticipated to take approximately 5 weeks, with assay results available some 3 – 4 weeks thereafter.