Zenith Minerals (ASX: ZNC) is pleased to have secured approximately 150km of new zinc prospective host rock sequence surrounding the EJV zinc discovery within the Earaheedy Basin via 7 new 100% owned exploration licence applications.
- Zenith has secured seven 100% owned exploration licences totalling 150 lineal kilometres of what is interpreted to be the prospective zinc host rock sequence within the Earaheedy Basin, Western Australia.
- The new exploration licence applications lie along the highly prospective Frere Formation – Yelma Formation contact and were selected based on key geological and geochemical criteria supported by previous exploration the Company has completed within the basin for both zinc and manganese.
- This strategic initiative follows on from the above-mentioned work and the recent Earaheedy Joint Venture (EJV) Zinc discovery. The EJV is held by Zenith Minerals (ZNC:25%) and Rumble Resources (RTR :75%). The EJV is managed by RTR and the exploration lease (E69/3464) appears to cover approximately 45 lineal kilometres of the prospective zinc host rock sequence.
- The EJV Zinc discovery is interpreted to be large scale with the upper portions drilled to date being shallow covering a projected surface area of approximately 2km by 1.2km. Work at the recent discovery is being accelerated with a 30,000m RC and DD drill program now underway. ZNC is a strong supporter of this approach.
- The recent technical work undertaken to date by the RTR team is suggesting a SEDEX style Zinc dominant deposit (refer to ZNC ASX Release 2-Jun-21). This interpretation will support ongoing exploration evaluation of the EJV and in time may assist with the newly acquired ZNC licences.
- The EJV remains the key focal point for exploration activity for at least the next six months.