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Zenith Minerals Ltd.
Summary
| Project: | Burro Creek | |
|---|---|---|
| Deposit: | Burro Creek East | |
| Location: | United States | |
| Commodities: | Lithium-Potassium | |
| Date: | 8/12/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-8-2019: Zenith Minerals Ltd. announces a Resource Estimation report for its Burro Creek East deposit at the Burro Creek project. Initial mineral resource estimate for project. Zenith Minerals Limited (“Zenith” or “the Company”) is pleased to advise tha | |
| Resources: | (Resource, Inf.): 42.6Mt @ 818ppm Li, 3.3% K at Burro Creek East | |
| CP/QP: | [Resources]: Martin Pittuck (SRK Consulting (UK) Ltd.) | |
| ABSTRACT: | Zenith Minerals Limited (“Zenith” or “the Company”) is pleased to advise that it has increased its acreage at the Burro Creek East property by 250%, a significant increase to the Company’s land position in Arizona. Approvals are in place to commence test drilling (up to 154 holes) at Burro Creek East. JV partner Bradda Head Limited (Bradda Head) has also provided its maiden Mineral Resource, along with an updated additional Exploration Target for the Burro Creek East lithium clay zone. The Burro Creek East project the focus of this release represents a small fraction (18%) of the joint venture partners total Arizona lithium clay land holdings (5121 acres) that includes Burro Creek East (937 acres), Burro Creek West (1487 acres) and Wikieup (2697 acres). Within the Arizona lithium clay holdings and forming a small portion of the total prospective area is the Burro Creek East zone that was the subject of initial drill testing in mid-2018 (14 RC holes for 923 metres). Bradda Head’s independent consulting group SRK Consulting (UK) Limited (SRK) provided a maiden Inferred Mineral Resource estimate of 42.6 million tonnes @ 818 ppm Li (lithium) and 3.3% K (potassium) using a lower cut-off grade of 300 ppm Li for the near surface lithium clay mineralisation at the Burro Creek East area (Table 2). The Burro Creek project located in Arizona USA is part of the American Lithium joint venture with Bradda Head Limited (Figure 1). A new Exploration Target1 (excluding the Burro Creek East Mineral Resource) for the original Burro Creek East area only (prior to the new ground being acquired) is increased to 20 to 60 million tonnes at 600 to 1000ppm Li (Table 1). The combined new Inferred Mineral Resource and new Exploration Target* total islarger than the previously released Exploration Target of 30 to 50 Mt @ 1000 to 1100 ppm Li (ASX release 19th June 2018). | |
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