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- Zenith Minerals (ZNC) has confirmed copper intersections at the Scorpion deposit at its wholly-owned Queensland based Develin Creek project
- The 46-hole drilling program at Develin Creek was started in September last year and was used to test targets at Wilsons North, Snook and four other targets near Sulphide City
- Intersections included 21 metres at 2.5 per cent copper, 16 per cent zinc, 0.4 grams per tonne (g/t) of gold and 18(g/t) of silver
- According to the announcement, the trading halt will be in effect till January 11 as it plans to announce a material lithium alliance and joint venture on Zenith’s lithium projects
- Zenith entered the trading halt at 29 cents a share
Zenith Minerals (ZNC) has entered a trading halt as it confirmed copper intersections at the Scorpion deposit at its wholly-owned Queensland based Develin Creek project.
According to the announcement, the trading halt will be in effect till January 11 as it plans to announce a material lithium alliance and joint venture on its lithium projects.
The 46-hole drilling program at Develin Creek was started in September last year and was used to test targets at Wilsons North, Snook and four other targets near Sulphide City.
Intersections included 21 metres at 2.5 per cent copper, 16 per cent zinc, 0.4 grams per tonne (g/t) of gold and 18(g/t) of silver.
Also, 20 metres at 2.3 per cent copper, 0.3 per cent zinc, 0.4g/t gold and 16.2g/t of silver and 18 metres at 1.7 per cent copper, 0.6 per cent zinc, 0.6 per cent gold and 26.3 per cent silver.
Assays remain outstanding for nine holes, while the new drill schedule and testing have been decided for the first half of this year.
Plans for 2022 include a copper-zinc sulphide drill program for Wilsons North and Snook, electromagnetic testing and geochemical targets for Sulphide City that were not tested in 2021.
Additionally, a complete drill series at Sulphide City is estimated to be more than four holes before the rig moves more regionally towards Wilson North and Snook.
‘Resource infill drilling at Scorpion has confirmed the high-grade nature of the
copper lens, which along with Sulphide City, form the basis of the historic Inferred
mineral resource,” CEO Mick Clifford said.
“Once we can complete the planned drill program at Sulphide City, which was curtailed in 2021 due to significant rainfall events, we’ll then be able to update the resource estimate.
“More importantly, we are very keen to get the drill rigs back to Snook and Wilsons North where we successfully discovered new massive copper-zinc sulphide zones in our regional drill programs in 2021.”
Zenith entered the trading halt at 29 cents a share.