Zenith Minerals (ASX: ZNC) today announced that project site activity is well underway for the first half of 2021, building on the exploration success of 2020.
The primary focus will be on the wholly owned three core projects, being the Red Mountain Gold, Split Rocks Gold and Develin Creek base metals (copper-zinc). Feeder projects will also be progressed.
Based upon success to date, the follow-on activity in the portfolio will include more than 1500m of diamond drilling, 5000m of RC drilling, 6000m of aircore drilling and over 5000 soil samples. Most of this work is anticipated to occur in the first half of the year.
Our Key Strategy remains very focussed on delivering value by way of the discovery and definition of a commercial sized metal inventory in the exciting precious and base metals sectors.
The overall portfolio will continue to be refined to deliver on the Strategy with non-core assets to be divested and new opportunities being added.
Executive Chairman Peter Bird said:
“As outlined in the summary work plan in this release, Zenith is undertaking a multifaceted approach in evaluating its project portfolio.
“This work is heavily weighted toward our three more advanced wholly owned core projects where we believe that the probability of material commercial success is the greatest. In addition, there are a suite of feeder projects which provide very good follow-on opportunities. An example of these “feeder” projects is the recently granted Auburn project.
“The amount of drilling and related activity will undoubtably generate strong news flow, but more importantly for the Company we are targeting value-based outcomes. Very few smaller exploration Companies have such an extensive precious and base metals portfolio from which they can generate value. It is our intention to do just that!”