Gold Potential

Zenith’s Split Rocks project is located within the Southern Cross region in the Forrestania greenstone belt, approximately halfway between Perth and Kalgoorlie. Several very large current and formerly operated gold mines located north and south along strike from Zenith’s project area attest to the regional gold endowment of this area.

A major targeting exercise by the Company’s geological team has identified 12 high-quality gold drill targets in the north eastern sector of the Company’s 100% owned Split Rocks project (Figures 1 & 2).  The study involved integrating geological, geophysical and geochemical data sets from Zenith’s exploration activities as well as historic exploration programs that were generally conducted more than 20 years ago, mainly for nickel, when the gold price was significantly lower than today.

Zenith’s targeting study has identified several, large, high-order geochemical anomalies (defined by historic auger sampling maximum value 300ppb Au and a mix of Zenith & historic shallow RAB & aircore drilling) that:

  1. Have never been or were poorly drill tested,
  2. Extend over 18km of strike.
  3. The anomalies are in several cases coincident with major fault structures and geological contacts that contain significant gold mineralisation along strike.

Of these 12 targets, 8 require first pass aircore drill testing, whilst a further 4 targets (12 in total) require follow-up RC drilling to test poorly explored open-ended gold zones such as 2m @ 6.5 g/t Au (end of hole). A total of six targets will be tested in this current program, with permitting underway to allow additional targets.

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Figure 1- Split Rocks Project Location Map Showing Zenith tenements, DHLGO Prospect and Regional Gold Endowment

*The Company has an exclusive right to explore the DHLGO project for bedrock gold mineralisation beneath the large laterite rich gold cap currently being mined and treated on leases located contiguous with Zenith’s Split Rocks project licences, located in the Forrestania greenstone belt, Western Australia (Figure 1).

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Figure 2: Twelve Split Rocks Gold Targets for Future Drill Testing

Mineralisation at Dulcie is hosted within quartz veined and sericite altered mafic volcanic rocks and remains open and untested along strike with evidence of multiple stacked lodes. The results included:

  • ZDRC022: 10m @ 2.2 g/t Au from 59m depth, incl. 6m @ 3.32 g/t Au and
  • ZDRC020: 5m @ 3.23 g/t Au from 8m depth,

Drilling so far has only tested 100m of strike potential of the Dulcie gold mineralised structure. This program will now focus on the along strike potential particularly to the south of the DHLGO gold zone as well as the numerous high-quality gold targets within Zenith’s extensive, 100% owned Split Rocks landholdings.

Lithium Potential

In addition to the gold targeting exercise, Zenith has also been systematically exploring its 100% owned Split Rocks project with landholdings of approximately 600 sqkm in the Forrestania greenstone belt for lithium.  This emerging lithium district is host to SQM-Kidman’s Mt Holland/Earl Grey lithium deposit containing 189Mt @ 1.5% Li2O (KDR:ASX Release 19th Mar 2018).