| Announcement Date: | 2022-08-08 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | Zenith Minerals Ltd. |
| Project name: | Develin Creek |
| Location: | Australia |
| Commodities: | Gold,Silver,Copper,Zinc |
| Highlight: | Updated Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | The Board of Zenith Minerals Limited (ASX: ZNC) (“Zenith” or “the Company”) is pleased to advise that following Zenith drilling at Develin Creek in 2014, 2021 and 2022 an updated Mineral Resource estimate has been completed for the Company’s 100% owned, Develin Creek project located in Queensland. The Zenith drilling verified the past results that extended and improved the geological interpretation. The Mineral Resource is interpreted and reported at a 0.5% Cueq (copper equivalent) cut-off suitable for open pit assessment. The updated Mineral Resource for the Sulphide City – Scorpion – Window copper – zinc deposits at the 0.5% Cueq cut-off includes This update represents a 90% increase in tonnage and a 30% increase in overall contained metal from the previous estimate announced on 15-Feb2015. This difference is attributed in part to a lower cut-off grade for reporting but is also the result of some resource extensions from recent Zenith drilling as well as a more robust interpretation that captures more or the mineralisation. The estimate does not include the massive copper-zinc sulphide mineralisation identified at Snook and other prospects to the south, also within the Develin Creek project. |
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