- Zenith Minerals is planning to accelerate copper exploration at its projects in Queensland
- The company says consumption of copper has grown, and, consequently, plans are in place to increase exploration
- Follow-up work is expected next month at the Snook Copper Prospect at Develin Creek
- The company is also planning a mineral resource diamond drill hole twin program at Sulphide City, airborne aeromagnetic and ground based geophysical surveys, and systematic regional geochemical soil sampling throughout this year
- Zenith is yet to define a robust drill target at the Flanagans project, but soil sampling, geological mapping and rock chip sampling of the copper and gold targets is planned for next month
- Zenith is in the green, up 9.09 per cent at 12 cents per share
Zenith Minerals is planning to accelerate copper exploration at its projects in Queensland.
The company says consumption of copper has been growing for a number of years and, consequently, plans are in place to increase exploration at its wholly owned Develin Creek and Flanagans projects.
Executive chairman Peter Bird commented on the Company’s copper projects saying copper is the “absolute green energy metal and is projected to need a forward capital commitment of circa US$106 billion to ensure that by 2028 the supply side deficit of an estimated 5.4 megatonnes is met.”
“This is by far the most underfunded green energy input commodity in the supply chain in an era where everything environmentally clean, and most likely electrical is desired,” he continued.
Develin Creek
The Develin Creek project is described as containing a very high-order volcanogenic massice sulphide (VMS) style copper base metals target, spanning over 50 kilometre strike length of favourable host stratigraphy.
This type of system is said to occur in discrete commercial clusters and Zenith believes that Develin Creek presents such an opportunity.
Late last year, a seven-hole maiden reverse circulation drill program was completed at the new greenfields Snook copper prospect, which the company says confirmed the prospective cluster model.
Results from this area included three metres of massive and semi-massive sulphides at 20 metres depth in the northern most drill hole, including three metres at 1.6 per cent copper, 1.1 per cent zinc, 43 grams per tonne (g/t) silver, 0.2g/t gold.
The Snook Prospect remains open with follow up work expected in April.
Later this month, a mineral resource diamond drill hole twin program is expected to commence at Sulphide City, with the aim of assessing potential grade “under-call” associated with historic open hole percussion drilling.
Furthermore, airborne aeromagnetic and ground based geophysical surveys, as well as systematic regional geochemical soil sampling, are planned for the rest of this year.
The company hopes the results will assist in drill targeting when coupled with the field mapping work already completed.
Flanagan’s Copper- Gold
Exploration activity at Flanagan last year confirmed historic sampling results, but Zenith is yet to define a robust drill target at the prospect.
Soil sampling of 500 samples, geological mapping and rock chip sampling of the copper and gold targets is planned for next month.
Zenith is in the green, up 9.09 per cent at 12 cents per share at 12:30 pm AEDT.