Zenith, Rumble are charging ahead with new mineralised zones at Earaheedy
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Zenith and its operating partner have found new feeder fault mineralisation and a new mineralised zone at their Earaheedy joint venture project.
Zenith Minerals (ASX:ZNC) caught the market’s attention this morning, after drilling at its Chinook prospect intersected a broad zone of zinc-lead mineralisation with multiple intersections at the top of a large-scale, sub-vertical feeder fault zone.
Notable results within this zone include 1m at 17.1% zinc+lead and 20.9 grams per tonne (g/t) silver from 202m.
Those hits took place within a broader 10m zone grading 6.57% zinc+lead and 16.24g/t silver from 200m, and 1m at 5.08% zinc+lead and 10.4g/t silver at the end of hole.
Adding further interest, Zenith and its operating partner Rumble Resources (ASX:RTR), the drill program also returned a significant copper and silver intersection of 4m grading 1.54% copper and 23.6g/t silver with 6.1% zinc+lead from a depth of 204m.
This supports the interpretation of metal zonation within the Earaheedy project area with copper, reflecting the “hotter” portion of the system.
There is also strong potential for deeper large-scale copper-zinc-lead-silver deposits below the extensive unconformity style mineralisation, the company said.
Chinook’s mineralised footprint has been mapped to 4.1km along strike, and 1.9km down-dip while remaining open in all directions.
Meanwhile, first pass drilling at the Navajoh prospect about 4km southeast of the recent Tonka discovery has intersected significant flat lying, northeast dipping unconformity related zinc-lead-silver sulphide mineralisation similar to the found at the Chinook and Tonka prospects.
Notable results include 5m at 6.38% zinc+lead and 6.3g/t silver from 123m, 3m at 6.15% zinc+lead and 10.63g/t silver from 132m and 4m at 4.18% zinc+lead and 3.57g.t silver from 106m.
This mineralisation is open in all directions and has the potential to significantly increase its flat lying mineralised dimensions in all directions.
“This last announcement for the 2021 season, of the discovery of two new major zones of zinc-lead mineralisation, caps off a highly significant period in the history of the Earaheedy project,” Zenith CEO Michael Clifford said.
“The Earaheedy joint venture has successfully discovered four major new zones of zinc-lead mineralisation during the year.
“The sheer scale of the mineralised system, as it currently stands at Earaheedy, is hard to comprehend, stretching some 12km in length and up to 1.9km down-dip.”
Following the drilling updates, shares in ZNC jumped by 9% this morning to 23.5c.
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.