Zenith Minerals’ (ASX: ZNC) has produced more high-grade copper and zinc from drilling at the Sulphide City deposit, within its Develin Creek project.
Resource update drilling at the Sulphide City deposit uncovered the highest-grade zinc interval ever for the entire project.
This interval was 9m at 1.8% copper, 18.1% zinc, 0.6 grams per tonne gold and 28.4g/t silver and was within a broader intersection of 19m 1.2% copper, 11.9% zinc, 0.4g/t gold and 20.4g/t silver.
Zenith managing director Michael Clifford said the high-grade zinc result was a “pleasant surprise”.
“Future drilling will assess if the 9m at 1.8% copper and 18.1% zinc intercept is an isolated patch or potentially a significant high-grade mineralised vertical fault zone.”
As well as resource update drilling, Zenith completed five holes around the margins of Sulphide City, and intercepted 1.4m at 2.8% copper, 0.3% zinc, 0.2g/t gold and 13.5g/t silver.
Mr Clifford said the latest results demonstrate the upside Sulphide City represents and that mineralisation remains open to the south.
Sulphide City has a current resource of 2.57Mt at 1.76% copper, 2.01% zinc, 0.2g/t gold and 9.6g/t silver.
Wider Develin Creek project
Over at the Snook and Wilsons prospects, Zenith has confirmed the presence of massive sulphide clusters.
Drilling at Snook returned highlight results of 3m at 1.6% copper, 1.1% zinc, 0.4% lead, 0.2g/t gold and 43g/t silver; and 1m at 2.3% copper, 3.4% zinc, 0.6% lead, 0.3g/t gold and 54g/t silver.
Demerger of gold and base metal projects
Develin Creek is located in Queensland and is part of the company’s asset portfolio that will be demerged into a new company that will be listed on the ASX.
Other projects that will be demerged include Zenith’s 25% interest in Earaheedy (base metals), Split Rocks (gold), Red Mountain (gold), Cowarra (gold), and Privateer (gold).
Zenith’s strategy behind the demerger is to unlock the value of its gold and base metal assets, while it focuses on advancing its lithium projects under joint venture with EV Metals Group.
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