- Zenith Minerals (ZNC) confirms high-grade copper and zinc with associated gold and silver at Sulphide City in the Develin Creek Project in Queensland
- Three holes were drilled to validate mineralisation within Sulphide City’s existing inferred resource area
- Due to the higher-than-expected grades, Zenith believes there’s potential to increase the copper grade within the higher-grade portions of the resource
- Additional drilling and geophysical work is required to test this further
- Zenith ended the day with shares up 6 per cent to close at 26.5 cents
Zenith Minerals (ZNC) has reported strong results from a three diamond holes drilled at the Sulphide City area within the Develin Creek Project in Queensland.
This drilling aimed to validate mineralisation within the existing mineral resource at the Sulphide City area.
The deposit has an inferred resource of 2.57 million tonnes at 1.76 per cent copper, 2.01 per cent zinc, 0.24 grams of gold per tonne (g/t) and 9.6g/t silver.
The results have confirmed high-grade copper and zinc zones with associated gold and silver in massive sulphides.
Results include 29 metres at 2.3 per cent copper, 1.2 per cent zinc, 0.3g/t and 4.2g/t silver, including 12.3 metres at 4.2 per cent copper, 2.5 per cent zinc, 0.6g/t gold and 7.3g/t silver; and 34 metres at 2 per cent copper, 1.5 per cent zinc, 0.2g/t gold and 4.9g/t silver, including 10 metres at 3.9 per cent copper, 0.4 per cent zinc, 0.3g/t gold and 6.9g/t silver.
Chairman Peter Bird said the short drilling program achieved what it was meant to do and more.
“Given the strong and much higher grades in holes ZDCDD002 and ZDCDD003 there is potential to expand upon what is already defined. More drilling and the recent geophysical targeting will both be valuable contributors to the process,” Mr Bird said.
In addition, the two holes defined discrete zones of high-grade zinc within the copper-rich intervals. Results include four metres at 4.7 per cent copper, 6.1 per cent zinc, 1.2g/t gold and 9.8g/t silver, and 10 metres at 1.8 per cent copper, 4.2 per cent zinc, 0.2g/t gold and 5.4g/t silver.
Zenith ended the day with shares up 6 per cent to close at 26.5 cents.