Zenith Minerals (ASX:ZNC) has provided an update to the market on its operations spanning across Australia, as part of its December quarter update. The company recently reported that an ongoing review of previous exploration activities on one of the recently granted exploration licences that make up its Split Rocks project in Western Australia highlighted that high-grade, near-surface cobalt and nickel was intersected in previous drilling.
Split Rocks Lithium-Gold-Cobalt Project – WA
Ongoing review of previous exploration on Zenith’s recently granted, 100% owned Split Rocks project in Western Australia highlighted high-grade near surface cobalt and nickel historic drill results at the Dulcie Prospect, including:
- 22m @ 0.06% cobalt and 0.70% nickel from 18m downhole, including: 8m @ 0.12% cobalt and 0.96% nickel;
- 21m @ 0.06% cobalt and 0.49% nickel from 25m downhole, including: 5m @ 0.13% cobalt and 1.78% nickel;
- 15m @ 0.06% cobalt and 0.54% nickel from 32m downhole plus a further 21m @ 0.05% cobalt and 0.59% nickel from 52m;
This historic drilling at Dulcie covers only 400m of strike of an ultramafic unit with an additional up to 9km’s of untested potential within Zenith’s tenure. Drill permits received, drilling planned to commence early 2018.
Three new, large scale lithium surface geochemical anomalies defined at Split Rocks in 100% owned Zenith tenure located 10km northwest of the Earl Grey lithium pegmatite deposit (ASX:KDR/SQM). Drill permits received, drilling to proceed after results of infill and extension surface sampling (currently in progress) is completed in order to better define these large lithium anomalies. Note sampling for lithium to date covers less than 10% of the Company’s tenement area.
Drill program (RAB) totalling 3300m completed testing two gold anomalies Mawson and Casey defined by Zenith auger soil sampling.
American Lithium JV
Drill programs are planned to commence on finalisation of JV partner Bradda Head’s IPO on the London (AIM) stock market, anticipated to occur in early 2018.
Burro Creek Lithium Clay Project – Arizona USA
Drill permits for trench and resource drilling of extensive lithium rich clay deposit at Burro Creek were received in mid-January 2018.
San Domingo Pegmatite field- Arizona USA
Drill permits submitted to test high-grade lithium pegmatite targets where sampling returned results including grab samples of 5.8% and 8.0% Li2O. Systematic sampling of more strongly weathered spodumene rich pegmatite also returned: 2.9m @ 0.86% Li2O, 2.8m @ 0.69% Li2O, plus a near true width zone of 12.7m @ 0.45% Li2O.
Wilson Salt Flat & Spencer Lithium Brine Projects – Nevada USA
Drill permits received to test the Wilson Salt Flat lithium brine target where recently completed MT geophysics highlighted a strong, sub-surface conductive target similar to those associated with new lithium brine discoveries in Nevada.
Zacatecas Lithium Brine Project – Mexico
Shallow auger holes at San Juan Salar show strong lithium in salt lake sediments up to 874ppm Li. Lithium and total salinity in brine samples increase with depth in all holes pointing to deeper target. MT geophysical survey planned to assess deeper brine targets prior to drill testing.
23,401,788 listed ZNCO options (99%) were exercised prior to expiry on 31 December, converting to fully paid ordinary shares during the quarter raising a total of $2,340,179.