Zenith unlocks new targets at Develin Creek copper-zinc project
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The opportunity for Zenith Minerals at its Develin Creek copper-zinc project in Queensland is expanding, with the explorer identifying four new high quality drill targets outside its ‘Sulphide City’ resource.
Zenith Minerals (ASX: ZNC) wholly owns Develin Creek, where an inferred mineral resource of 2.57Mt at 1.76% copper, 2.01% zinc, 0.24g/t gold and 9.6g/t silver (2.62% CuEq) was outlined in 2015 at Sulphide City.
Zenith already has four drill ready targets in and around the Sulphide City resource, but the Develin Creek property extends for another 50km south covering prospective ground bearing evidence of hosting massive copper-zinc sulphides.
Two of the new targets have been identified in geophysical surveys 30km south at Snook, beneath and to the east of shallow RC drilling last year which detected massive and semi-massive sulphides just 20m downhole.
That included a hit of 3m at 1.57% copper and 1.07% zinc with an interesting mix of lead, silver and gold also attached.
The surveyed “IP chargeability” anomalies are considered to be consistent with disseminated sulphides within a basalt rock target believed to sit beneath the massive sulphide hits, with a drill program of up to 7 holes being planned to test anomalous copper, zinc, lead and precious metals.
Other new targets include two “high conviction” targets at the Wilsons prospect, which are located south of Snook underneath shallow soil cover that would make soil sampling ineffective.
IP survey results there are also considered to be consistent with a potential zone of sub-surface disseminated sulphides, which typically form as a halo or “feeder zones” beneath volcanic hosted massive copper-zinc sulphide deposits.
Two to three drill holes are planned at Wilsons.
Zenith chairman Peter Bird noted VMS systems had potential to host high grade resources.
“The property extends for some 50km south of this resource,” he said.
“The eight geophysical anomalies mentioned in this release span the total lease area.
“The anomalies at Snook appear to be located below the early-stage shallow drilling and like the others defined require drill evaluation.
“VMS styles systems can be discrete but high grade and hence of great value. We see this advancement as a very positive step forward to allow us to build the copper inventory.”
Zenith is awaiting results from a diamond drilling program at Sulphide City in May designed to test potential copper-zinc grade “under-call” associated with historic open hole percussion drilling.
The company also plans to begin metallurgical testwork with the diamond core from that campaign early next month.
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.