Perth, Australia – 25 October 2024 | Zenith Minerals Limited (ASX:ZNC) (“Zenith” or “the Company”) is pleased to announce that it has secured a WA Government Exploration Incentive Scheme (EIS) grant. This grant will co-fund exploration drilling at the Company’s 100%-owned Waratah Well Lithium Project, which is located 20 km northwest of Yalgoo, Western Australia. This grant will contribute up to A$85,000 and cover up to 50% of direct drilling costs.
Highlights:
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A$85,000 EIS Grant: This EIS grant will co-fund up to 50% of direct drilling costs at the Waratah Well Lithium Project.
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Drilling Program Timeline: Zenith is required to complete the drilling program by the 30th of November 2025.
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Recent Geological Findings: Recent rock chip sampling and geological analysis have confirmed and improved understanding of key lithological contacts, which control the location and orientation of lithium mineralisation at Waratah Well.
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Heritage Approvals Secured: The Company holds an approved Programme of Works (POW) and has completed all necessary heritage surveys, positioning Zenith to begin drilling, pending final Board approval.
The Waratah Well Lithium Project is located in an underexplored area known for high-grade lithium potential. Previous drilling programs confirmed the presence of petalite, a valuable lithium-bearing mineral, within a large pegmatite system. With the support of the EIS grant, Zenith will focus on further defining the scale and economic potential of lithium mineralisation in both untested and partially tested zones.
Andrew Smith, Managing Director of Zenith Minerals, commented: “While our core focus remains on advancing our gold projects, we have not lost sight of the significant potential within our lithium portfolio. The successful EIS co-funding for Waratah Well is a testament to the project's potential and the Western Australian Government’s commitment to promoting lithium exploration and extraction. This lithium project continues to deliver exciting results, and we are confident it will create substantial value alongside our gold assets. Waratah Well is an important part of our broader strategy, and we look forward to unlocking its full potential as we continue to drive both our gold and lithium projects forward.”
For further information, please contact:
Andrew Smith
Managing Director
[email protected]
Jane Morgan
Investor and Media Relations
[email protected]
About us:
About Zenith Minerals Limited:
Zenith Minerals Limited (ASX:ZNC) is an Australian-based exploration company with a focus on both gold and lithium, offering a diverse portfolio of projects in highly prospective regions of Western Australia and Queensland. The company is strategically positioned to benefit from the global demand for precious metals and battery minerals, with an emphasis on advancing its high-potential gold and lithium assets.
Contact details:
Jane Morgan
Jane MOrgan Management
Investor & Media Relations
[email protected]