Zenith Minerals Limited (ASX:ZNC) has signed a binding option agreement to secure up to a 100 per cent interest in the lithium rights over the Yilmia Lithium Project near Coolgardie in Western Australia.
The tenure contains a lithium pegmatite target in greenstone host sequence in a similar geological setting to the recent Kangaroo Hills lithium pegmatite discovery by Future Battery Metals (ASX:FBM).
Geophysical data and historic soil geochemistry has indicated the prospective greenstone sequence likely extends under soil cover, over an eight-kilometre-long target zone.
The area has had no previous drill testing, with Zenith planning an initial target-wide aircore drilling program to test the prospective area for lithium pegmatites.
Zenith Managing Director Michael Clifford said he was pleased to advise an additional project had been added to the company’s lithium portfolio.
Clifford said: “We infer from geophysical and geochemical data that the Yilmia Lithium Project contains an eight-kilometre-long greenstone rock sequence, wrapping around the southern margin of the Woolgangie Monzogranite, that we consider prospective for lithium pegmatites.
“The recent Kangaroo Hills lithium pegmatite discovery by Future Battery Metals is in a similar setting on the northern margin of the Woolgangie Monzogranite, some 13 kilometres to the northwest.
“We should be able to screen, relatively easily and quickly, the eight-kilometre-long corridor to assess its lithium potential using industry standard aircore drilling.”
