- Zenith Minerals Limited (Zenith) has signed a binding option agreement to secure up to a 100% interest in the lithium rights over tenure near Coolgardie – Western Australia.
- Lithium pegmatite target in greenstone host sequence in a similar geological setting to the recent Kangaroo Hills lithium pegmatite discovery by Future Battery Metals - ASX:FBM (Figures 1 - 2).
- Geophysical data and historic soil geochemistry indicates prospective greenstone sequence likely extends under soil cover, over an 8km long target zone.
- No previous drill testing, with Zenith planning an initial target wide aircore drilling program to test the prospective area for lithium pegmatites.
Managing Director, Michael Clifford said: "I am pleased to advise that an additional project has been added to the Company’s lithium portfolio. We infer from geophysical and geochemical data that the Yilmia Lithium Project contains an 8km long greenstone rock sequence, wrapping around the southern margin of the Woolgangie Monzogranite, that we consider prospective for lithium pegmatites. The recent Kangaroo Hills lithium pegmatite discovery by Future Battery Metals is in a similar setting on the northern margin of the Woolgangie Monzogranite, some 13km to the northwest. We should be able to screen, relatively easily and quickly, the 8km long corridor to assess its lithium potential using industry standard aircore drilling.”
Yilmia Lithium Project
The Yilmia Lithium Project is inferred to contain an 8km long greenstone package that is considered highly prospective for lithium pegmatites on the southern margin of the Woolgangie Monzogranite (Figure 1). A strong aeromagnetic anomaly is coincident with ultramafic and mafic rock units that are shown on government geological maps, further east of the Yilmia project area. That same aeromagnetic anomaly extends through the northern portion of the project area, under soil cover, indicating that the greenstone belt likely extends further west through the Yilmia project tenure (Figures 1& 2). Furthermore, the presence of greenstone within the Yilmia project area, is also supported by a historic soil sampling program and a historical EM geophysical survey that were conducted as part of nickel exploration in the area of interest to Zenith.
A program of aircore drilling is planned to test the lithium target zone with the Company commencing the permitting process to allow the program to proceed.
Zenith Minerals Limited (ASX:ZNC) is an Australian-based minerals exploration company leveraged to the increasing global demand for metals critical to the production processes of new energy industrial sectors.