Zenith Minerals (ASX: ZNC) has kicked-off drilling at the Snook copper target at its Develin Creek copper-zinc project in central Queensland.
The maiden reverse circulation campaign at Snook is expected to take only one week to complete with six holes planned.
Deeper holes will be cased for future down hole electromagnetic geophysical surveying. This will assess the potential for any off-hole conductors that could represent massive sulphide zones.
Zenith chief executive officer Mick Clifford said he was “very pleased” drilling had begun at Snook.
“We have been systematically assessing the Develin Creek project for additional massive sulphide (VMS) deposits to add to our existing JORC resource inventory.”
“VMS deposits commonly have very high in-ground value and generally occur in clusters.”
Mr Clifford said Snook was a compelling target and any success would add “significant value” to the project and the company.
Assays due next month
Once drilling has finished, assays are anticipated within three weeks.
Previous rock chip sampling had uncovered base and precious metals at surface with peak results of 7.58% copper, 0.48 grams per tonne gold, 7.8g/t silver, 0.16% lead and 0.3% zinc.
According to Zenith, the rock chip assays are analogous to those samples collected at the project’s existing resources.
Devlin Creek copper-zinc project
Resources at Devlin Creek currently total 2.57Mt at 1.76% copper, 2.01% zinc, 0.24g/t gold and 9.6g/t silver. This amounts to 2.62% copper equivalent.
Snook is located about 30km south of the resource.
Zenith said it believed there remained upside to the current resource grades with twin holes unearthing “significantly higher” coper, zinc, gold and silver grades.
Exploration activity at ‘all-time high’
Mr Clifford noted that exploration activity across Zenith’s core gold and copper projects across Australia was at an “all-time high”.
“In addition to the drilling at Snook, the board recently approved a major reverse circulation drill campaign to test the newly outlined 2km-long gold target at the company’s 100%-owned Split Rocks gold project in Western Australia.”
He pointed out drilling was also continuing at its wholly-owned Red Mountain gold project in Queensland.