Zenith Minerals (ASX: ZNC), a leading mining and exploration company, is excited to announce a significant expansion in the number of lithium targets at its Split Rocks Lithium Project in Western Australia. Following a comprehensive reassessment of both existing and new geochemical data, the company has identified a total of 83 lithium targets, a substantial increase from the previously reported 30 targets.
Key Highlights of the Expansion:
- The expansion is a result of new surface sample assays, a thorough review of existing soil geochemical data, and an assessment of drill data.
- The targets include the expansive Cielo Lithium Target, measuring over 9km in length and 2km in width. This target, previously announced on 9-Feb-23, remains untested and has shown a peak auger value of 880ppm Li.
- Among the identified targets, 6 are distinguished by pegmatite drill intersections up to 50m thick. These are classified as lithium, caesium, tantalum (LCT) pegmatites, based on their geochemical character, underscoring the highly prospective nature of the Split Rock project leases.
- The new targets are located outside of Zenith’s existing Rio Lithium Deposit, which boasts 11.9Mt at 0.72% Li2O, and lies northwest of the Mt Holland Lithium Mine, owned by SQM-Wesfarmers.
- The project is well-prepared for further exploration, with 318 drill holes fully permitted and ready for drilling. Additionally, Permits of Work are in place for another 193 AC drill holes, covering Cielo and 14 other targets.
- Zenith has issued a written notice to EV Metals Group (EVM), advising of the 11-January-2024 deadline for the bankable feasibility study. It is anticipated that Zenith will reassume full control of a 100% interest in both the Split Rocks and Waratah Well projects on this date.
A Leap Forward in Lithium Exploration:
This expansion marks a significant step forward in Zenith’s lithium exploration efforts. The identification of such a large number of targets not only enhances the potential of the Split Rocks project but also positions Zenith Minerals at the forefront of lithium exploration in the region.
Future Prospects and Updates:
Zenith Minerals remains committed to advancing its exploration activities and expects to provide further updates around the bankable feasibility study deadline in January 2024. The company is optimistic about the potential of these newly identified targets and looks forward to exploring their full potential.
Managing Director Michael Clifford said: “The technical team has now had time to reassess the way we target lithium pegmatites on our Split Rocks project. With some additional assays now to hand, and a significant review of the details of our extensive surface geochemical and drilling databases, we are now able to reclassify our lithium drill anomalies at Split Rocks, resulting in a total of 83 targets. The exercise reaffirms our strong belief in the prospectivity of the Split Rocks project area that has already delivered one JORC Mineral Resource. We very much look forward to January 2024 when we anticipate regaining full control of the project on a 100% basis.”
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.