Zenith Minerals has exercised the option to acquire 4D Memory Limited’s 49% interest in the Develin Creek copper-zinc-gold-silver project in Queensland for $A60,000.
Having secured 100% interest in the project, the company now plans further exploration activities to unlock the potential of the project’s existing Inferred Mineral Resource (JORC 2012) of 2.57Mt @ 1.76% copper, 2.01% zinc, 0.24g/t gold and 9.6g/t silver (2.62% CuEq).
“Drill testing is planned of the new Wilsons South target and at Sulphide City where a twin hole drilling program will test historic drilling assay under-call and provide further metallurgical samples,” Zenith said in a statement.
“In addition the program to expand geochemical coverage over priority host rock horizons within the highly prospective tenure surrounding the Develin Creek deposits remains ongoing.”
The Develin Creek base metals project is located 70km north-west of Rockhampton in Central Queensland. It hosts several copper-zinc-gold-silver volcanic hosted massive sulphide (VHMS) deposits and covers an extensive belt of underexplored prospective volcanic rocks. Mineralisation comprises massive sulphide, stringer and breccia style copper-zinc-gold-silver deposits, hosted by basalts.