19th July 2022
only | Corporate Details | |||||
Zenith Minerals Limited (ASX:ZNC) | ||||||
use | ABN: 96 119 397 938 | |||||
Issued Shares | 343.9M | |||||
Unlisted options | 14.3M | |||||
Mkt. Cap. ($0.27) | A$91M | |||||
Cash (31st Mar 22) | A$9.3M | |||||
Equities (31st | Mar 22) A$14.2M | |||||
Debt | Nil | |||||
Directors | ||||||
David Ledger | Executive Chairman | |||||
Michael Clifford | Managing Director | |||||
Stan Macdonald | Non-Exec Director | |||||
Julian Goldsworthy Non-Exec Director | ||||||
Emma Scotney | Non-Exec Director | |||||
Nic Ong | Co Sec | |||||
Nick Bishop | CFO | |||||
Major Shareholders | ||||||
Directors | 3.4% | |||||
HSBC Custody Nom. | 8.7% | |||||
Citicorp Nom | 8.3% | |||||
BNP Paribas Nom | 6.2% | |||||
EV Metals Group | 2.9% | |||||
personal | Our Vision | |||||
Zenith has a vision to maximise | ||||||
shareholder value | through superior | |||||
project | generation and | exploration | ||||
activities. | ||||||
Focus is on 100% owned Zenith | ||||||
projects, | whilst | partners | progress | |||
multiple additional opportunities. | ||||||
For | ||||||
Contact Us | ||||||
Level 2, 33 Ord Street | ||||||
WEST PERTH WA 6005 | ||||||
PO Box 1426 | ||||||
WEST PERTH WA 6872 | ||||||
Telephone: | (08) 9226 1110 | |||||
Email:info@zenithminerals.com.au | ||||||
DRILLING RECOMMENCED AT SPLIT ROCKS
LITHIUM PROJECT
The Board of Zenith Minerals Limited (ASX: ZNC) ("Zenith" or "the Company") is pleased to advise that drilling has recommenced at the Split Rocks project in Western Australia. The project is part of the Zenith Lithium Joint Venture with EV Metals Group.
A fully permitted program of 45 initial RC holes (~9,000 metres) has commenced to follow-up on the thick, high-grade lithium mineralisation intersected in the maiden drill program at the Rio pegmatite prospect (ASX Release 4-Apr-22), that returned results including:
- ZVRC002 - 20m @ 1.0% Li2O, including 10m @ 1.7% Li2O
Split Rocks is a large scale, lithium prospective project with multiple target areas containing thick pegmatites, along strike from the major Mt Holland lithium deposit (Wesfarmers/SQM) - under construction.
Project-wide geochemical screening programs are also underway at Split Rocks with crews working towards systematically sampling all the prospective portions of the 660km2 land package. Over 4,000 new samples collected to date, with an update on results expected shortly.
Drilling of the initial 45 holes is anticipated to take approximately 6 weeks, with an additional 40 holes contingent on permitting and results of the first round of drilling.
Zenith Minerals Executive Chairman David Ledger commented: "Our Company, along with our joint venture partner, EV Metals Group, are genuinely excited to be conducting a follow up campaign on the initial drilling completed some months ago. That initial program, at Split Rocks, has been vital in defining an area of focus for the team to be now focusing on. The plan will be to follow up where the best intersections from the first round were identified, where we hope to expand on the initial high-graderesults from the Rio area of the tenement. With a strong permitting and approvals team, we have been able to now start more serious planning for this program and follow-ondrilling campaigns. With the new drilling set to commence, we believe that this will enhance our understanding of the potential for Split Rocks to be material in our lithium exploration endeavours."
Background on the Rio Pegmatite
An initial program of 28 RC drill holes was completed to test 7 pegmatite targets: Rio (4 holes), Dulcie West (4 holes), Estrela (2 holes), British Hills East (7 holes), Pointer 7 (5 holes), Firebreak North (2 holes) and Firebreak South (4 holes) part of the Split Rocks project in Western Australia (ASX Release 4-Apr- 22).
Assays for the Rio pegmatite target (the first target drill tested in the current program), returned wide, high-grade lithium mineralisation. A single line of 4 RC holes (ZVRC001 - 004) was drilled at 200m spacing to follow-up on historical diamond drilling that intersected a flat-lying pegmatite, located 400m northwest. The pegmatite in historical diamond holes was up to 65m thick with
strongly anomalous lithium. Thick pegmatites were intersected in each of the 4 new holes, all containing anomalous lithium levels >0.1%Li2O (Figures 1 and 2). Individual pegmatites are up to 55m in thickness, assuming a flat lying, stacked interpretation.
For personal use only
Figure 1: Split Rocks Lithium Drill Targets
Drill hole ZVRC002 intersected an upper and a lower pegmatite. The upper pegmatite contained thick, high-grade lithium eucryptite* mineralisation (confirmed via XRD analysis of 3 mineralised intervals). Results include:
- 20m @ 1.0% Li2O, including 10m @ 1.7% Li2O
only*Eucryptite is a lithium aluminium silicate mineral with a formula LiAlSiO4. The lithia content of pure eucryptite is 11.86% Li2O. Spodumene is also a lithium aluminium silicate mineral with a formula LiAlSi2O6. The theoretical lithia content of pure spodumene is 8.03% Li2O. Spodumene accounts for most of the lithium production from pegmatite projects worldwide. Eucryptite is recorded in a number of lithium operations but generally only in small quantities. How eucryptite will perform metallurgically requires further investigation.
H le ZVRC002 ended in pegmatite. This lower 38m thick pegmatite zone contains strongly anomalous lithium (>0.1% Li2O). Lithium minerals were identified as petalite (via XRD analysis of 1 mineralised interval).
In addition, holes ZVRC001, 003 and 004 all intersected thick pegmatites returning strongly anomalous lithium use(>0.1% Li2O). Lithium minerals in hole 003 were identified as petalite based on XRD analysis of 2 mineralised
intervals.
The follow-up drill program of 45 initial holes will include infill 50m spaced holes as well as step out drilling at various spacings between 100m and 400m.
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Background on the Split Rocks Project
Zenith has been systematically exploring the Split Rocks project for lithium (Figure 3) within landholdings of approximately 660 km2 in the Forrestania greenstone belt. This emerging lithium district is host to SQM-Wesfarmers Mt Holland/Earl Grey lithium deposit containing a Measured, Indicated & Inferred Mineral Resource of 189Mt @ 1.5% Li2O (66Mt @ 1.58 %Li2O Measured, 106Mt @ 1.52% Li2O Indicated, and 17Mt @ 1.11% Li2O Inferred) (reported in KDR:ASX Release 19-Mar-2018).
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personalFigure 3- Split Rocks Project Location Map Showing Zenith tenements and Regional Lithium & Gold Endowment. An initial drill test of seven large, lithium pegmatite targets in the Split Rocks tenement package has been
completed, including at: Rio, Dulcie West, Estrela, Pointer 7, and British Hills East, Firebreak North, and Firebreak South. Thick pegmatites were intersected at Estrela (pegmatite up to 29m thick) and British Hills East (pegmatite
Forup to 114m thick) - with a maximum 0.1% Li2O.
Results are awaited for 4 drill holes completed at Pointer 7, whilst multiple additional targets have also been defined that will require drilling.
In addition, several lithium surface anomalies generated by Zenith through limited soil and auger sampling in the central west and northern portions of the project area require drill testing. Large areas considered prospective around granite margins in the centre of the project area are yet to be screened by surface sampling. Surface geochemical sampling programs to assess these zones have now commenced with auger sampling crews active on site.
Zenith Lithium Joint Venture
Zenith is being developed as a pure lithium company to refocus on minerals containing lithium and related metals required for rechargeable lithium-ion batteries for electric vehicles and renewable energy storage ("Battery Minerals"), backed by a new alliance with the EV Metals Group (EVM), as detailed in ASX Release 13-Jan-22. Key
onlycommercial terms of the Zenith Lithium Joint Venture with EVM include:
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Zenith Minerals Limited published this content on 18 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 July 2022 22:43:06 UTC.