- Zenith Minerals (ZNC) intersects lithium-bearing pegmatites at the Waratah Well project in Western Australia
- The company drilled 47 holes in a four-kilometre zone to follow up on previous drilling which confirmed the presence of lithium-bearing pegmatites
- Of the 47 holes, 22 intersected pegmatites which, according to Zenith, are the thickest and highest grade to date
- Zenith Minerals plans to conduct deeper reverse circulation drilling to test the pegmatites at depth and across strike
- Company shares end the day 11.5 per cent in the red to close at 23 cents
Zenith Minerals (ZNC) has intersected lithium-bearing pegmatites at the Waratah Well project in Western Australia.
The Waratah Well Project is located 20 kilometres northwest of the Yalgoo township in the Murchison region. It’s held in a joint venture with EV Metals Group.
Zenith Minerals completed 47 slimline reverse circulation (RC) holes over a four-kilometre area to follow up on widespread lithium-bearing pegmatites confirmed in drilling undertaken earlier this year.
Out of the 47 holes drilled, 22 were confirmed to have intersected pegmatites ranging in thickness from one metre to up to 24 metres.
The company was particularly pleased with results from three holes.
ZWWRC029 returned seven metres at 0.67 per cent lithium including three metres at 1.31 per cent lithium at the base of the 24-metre thick pegmatite with the upper portion being strongly weathered.
ZWWRC030 intersected 22 metres at 0.22 per cent lithium including one metre at 0.61 per cent lithium with the upper portion of the pegmatite also weathered.
The third hole intersected 11 metres at 0.13 per cent lithium.
Managing Director Michael Clifford said the company is very pleased with the latest drill results.
“The program successfully achieved its aim of looking for pegmatites under soil cover. In addition, the pegmatites we intersected were the thickest and highest grade to date,” he said.
“We are gaining some clear insights into zoning at Waratah Well and now plan to chase these new thick pegmatites well into fresh rock looking for our target lithium mineral, spodumene.”
Zenith Minerals plans to conduct deeper RC drilling to test the pegmatites at depth and across strike.
Company shares ended the day 11.5 per cent in the red to close at 23 cents.