Zenith Minerals Limited’s Earaheedy zinc discovery will be fast-tracked via an extensive accelerated exploration program, including Reverse Circulation (RC) and large diameter diamond core drilling, to test the scale and extent of the discovery.
The Earaheedy zinc project, located approximately 110 kilometres north of Wiluna in Western Australia, is a joint venture between Zenith and Rumble Resources Limited.
Zenith holds a 25 per cent interest in the Earaheedy Joint Venture, with Zenith’s interest free carried until completion of a Bankable Feasibility Study.
On 19 April 2021, Rumble released the initial assay results of a RC drill program that confirmed a major Zinc-Lead discovery at the Chinook Prospect, within the Earaheedy Project.
Of the 26 holes drilled during the recent program, 26 drill holes out of 26 intersected visual Zn-Pb mineralisation. Assay results for the remaining 24 holes are expected to be announced in the coming weeks.
Rumble stated that the Chinook prospect at Earaheedy has the potential to be at the upper end of the existing exploration target based on consistent grades (4 per cent – 5 per cent Zn+Pb), the true thickness (up to 34 metres vertical), the intersection of Zn-Pb over 2 kilometres of strike, the width over 1.1 kilometres and the mineralisation being open in all directions.
Of importance is the shallow orientation of the Zinc-Lead mineralisation, which suggests potential for larger open-cut mining scenarios.
Previous exploration results highlighted the potential for a very large-scale (Tier 1) Zinc-Lead System as the Chinook Prospect drilling has only tested 2 kilometres of the 45 kilometre prospective mineralised strike underlining the potential to delineate multiple large tonnage, shallow (open-pit) deposits throughout the Earaheedy Project.
Exploration target
Rumble’s Zn-Pb exploration target for the Earaheedy Project is between 40 to 100 million tonnes at a grade ranging between 3.5 per cent Zn-Pb to 4.5 per cent Zn-Pb.
The exploration target is at a relatively shallow depth (50-150 metres), and over 40 kilometres of prospective strike (completely open) has been defined within the Earaheedy Project.
According to Rumble, the potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The exploration target, being conceptual in nature, takes no account of geological complexity, possible mining method or metallurgical recovery factors.
The exploration target has been estimated to provide an assessment of the potential for large-scale Zn-Pb deposits within the Earaheedy Project. It has been prepared and reported in accordance with the 2012 edition of the JORC Code.
The exploration target is based on the current geological understanding of the mineralisation geometry, continuity of mineralisation and regional geology. This understanding is provided by an extensive drill hole database, regional mapping, coupled with understanding of the host stratigraphic sequence.
Included in the data on which this exploration target has been prepared is recent RC drilling of 30 holes for 2690 metres (three RC stages), 33 holes for 3,593 metres recently completed (assays returned for 2 holes and 31 holes – assays pending) and diamond drilling of 4 holes for 1199.8 metres completed by Rumble along with 64 historic RC drill holes completed within the project area (E69/3464) by previous explorers.
Some of the considerations in respect of the estimation of the exploration target include:
- Drilling results have demonstrated strong continuity of shallow, flat lying mineralisation
- Over 40 kilometres of prospective strike and open
- Minimum 200 metres of width (based on shallow 7.5° and shallow depth to 80 metres, based on drilling results
- True width (thickness) of mineralisation up to 34 metres received in drilling results, and
- Specific gravity (SG) of 2.5 (world average SG of sandstone – not accounting for metal)
The new exploration program is to be solely funded by Rumble using funds from a $40 million capital raising announced by the company yesterday.
Zenith Minerals Chairman, Peter Bird, said: “We welcome the news that Rumble Resources are going to fast track the Earaheedy zinc discovery with an extensive accelerated exploration program underpinned by their A$40 million capital raise.”
“We look forward to working with the Rumble team in unlocking the value of this exciting discovery for the benefit of the shareholders of both groups,” Mr Bird said.
