A week after beginning diamond drilling at Red Mountain, Zenith Minerals (ASX: ZNC) has uncovered copper-zinc-rich massive sulphides during maiden drilling at the greenfield Snook target within Develin Creek in Queensland.
Zenith completed a seven-hole reverse circulation program at Snook which tested 200m of strike and generated “encouraging results”.
Assays have returned 3m at 1.57% copper, 1.07% zinc, 0.37% lead, 43 grams per tonne silver and 0.2g/t gold, including 2m at 1.95% copper, 1.34% zinc, 0.48% lead, 55g/t silver and 0.3g/t gold.
These intervals where within a broader 12m intercept that graded 0.81% copper, 0.56% zinc, 0.19% lead, 22g/t silver and 0.1g/t gold.
Zenith chief executive officer Mick Clifford said the company was “delighted” with the results, with the massive sulphides intercepted near surface and containing similar levels of copper, zinc, lead, silver and gold to those in its existing resource inventory 30km to the north.
“Volcanogenic massive sulphide deposits commonly have very high in-ground values and generally occur in clusters,” Mr Clifford noted.
“The discovery of massive sulphides at the Snook prospect validates the cluster theory and highlights the potential of the company’s land package at Develin Creek.”
“This massive sulphide intersection is an exciting development for the project area and elevates the Develin Creek copper-zinc project for high-priority follow up.”
Exploring Develin Creek
Develin Creek has a current resource of 2.57Mt at 1.76% copper, 2.01% zinc, 0.24g/t gold and 9.6g/t silver that was published in February 2015.
The company expects there is upside to this resource with twin holes unearthing “significantly higher” copper, zinc, gold and silver grades.
At Develin Creek, Zenith’s lease holding comprises 50km of prospective ground extending from north to south, with follow-up work at Snook to include more geophysical surveying and drilling early next year.
In addition to Develin Creek, Zenith is actively exploring at the Red Mountain gold project which is also in Queensland.
Exploration is also underway at the Split Rocks gold project in Western Australia, which is testing a 2km-long target.