Zenith Minerals Limited has resumed 100 per cent ownership over its two significant lithium projects — the Split Rocks Lithium Project and the Waratah Well Lithium Project — in Western Australia.
Zenith Managing Director Michael Clifford said: “Regaining full control of our key lithium assets in Western Australia is a crucial step forward.
“Our technical team has made significant progress at both Split Rocks and Waratah Well without drilling this past year, highlighting the untapped potential of these projects.
“As we move into an extensive exploration campaign for 2024, our focus remains on strategic growth and the continuous enhancement of shareholder value,” said Clifford.
The Split Rocks Lithium Project, situated approximately 30 kilometres north of the Mt Holland Lithium Deposit, has been identified as one of only six JORC-classified lithium deposits outside existing mining operations in Western Australia.
The project covers an area of about 367 square kilometres within the Forrestania greenstone belt and has indicated considerable potential with a Maiden Inferred Mineral Resource reported to contain 11.9Mt at 0.72 per cent Li2O.
Furthermore, the Zenith has identified 83 additional lithium targets within the project area and secured permits for 318 drill holes, setting the stage for an extensive exploration campaign in 2024.
The Waratah Well Lithium Project is located around 20 kilometres northwest of Yalgoo in the Murchinson Region and holds a potentially large lithium-caesium-tantalum pegmatite target.
Initial drilling has returned high-grade lithium intersections, and the mineralization remains open in all directions, awaiting a comprehensive follow-up drill program scheduled for the first half of 2024.
Zenith has released a statement which says that the company is well-positioned to leverage these developments and enhance its shareholder value.
A detailed review of the projects is currently underway — which may include seeking expressions of interest from potential strategic investors.