Zenith kicks off copper-zinc drilling at Develin Creek
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Zenith has started drilling eight massive sulphide copper-zinc targets to build upon existing resources at the Develin Creek project in Queensland.
Drilling will test four targets at the Snook and Wilsons prospects as well as four additional targets located close to the existing Sulphide City massive copper-zinc sulphide deposit.
This program is part of a larger campaign of about 40 holes that Zenith Minerals (ASX:ZNC) will drill to assess the Sulphide City resource area where recent drilling returned strong massive copper-zinc sulphides in a twin hole program.
Devlin Creek – a VMS-style project that is believed to have geological similarities to Sandfire Resources’ DeGrussa copper-gold mine – currently has a resource of 2.57 million tonnes grading 1.76% copper, 2.01% zinc, 0.24 grams per tonne (g/t) gold and 9.6g/t silver.
“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,” chairman Peter Bird said.
“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 resource and eight additional high priority targets to assess, which is suggesting the potential for a typical cluster of VMS deposits.
“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.”
A recent induced polarisation survey identified a small coincident chargeability high associated with the Snook massive sulphide zone with a deeper, much stronger IP target lying beneath the current drilling and another strong target to the east.
These targets, S1 and S2, will be tested in the current drill program.
Existing drill holes above these targets returned strongly anomalous copper-lead-zinc and precious metals.
Over at Wilsons, a strong chargeable anomaly coincident with a resistive high was defined beneath the target area that is obscured by soil.
Like Snook, the W1 and W2 targets are consistent with a zone of sub-surface disseminated sulphides that typically form as a halo or “feeder zones” beneath volcanic hosted massive copper-zinc sulphide deposits.
Meanwhile, the four targets near the Sulphide City resource were defined by a reinterpretation of geology, geochemical and airborne electromagnetic survey.
This article was developed in collaboration with Zenith Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.