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Zenith Minerals Ltd.
Summary
| Project: | Kavaklitepe | |
|---|---|---|
| Deposit: | Kuzey | |
| Location: | Turkey | |
| Commodities: | Gold | |
| Date: | 12/11/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-12-2018: Zenith Minerals Ltd. announces an Exploration/Drilling Update report for its Kuzey deposit at the Kavaklitepe project. Drilling results incl. 24.0m @ 4.15g/t Au from 52m. Zenith Minerals Limited (“Zenith” or “the Company”) is very pleased to a | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Michael Clifford (Internal) | |
| ABSTRACT: | Zenith Minerals Limited (“Zenith” or “the Company”) is very pleased to advise that initial 4 metre composite assay results from follow-up drill testing have now been received from the Kavaklitepe Gold Project located within the highly gold endowed western region of Turkey. Based on these preliminary 4 metre composite results the drill program has successfully defined gold mineralisation over the length of the 900 metre long Kuzey Prospect (north prospect) one of three gold mineralised zones within the Kavaklitepe Project. New results include: drill hole KT-35: 24.0m @ 4.15 g/t Au, including 16.0m @ 5.20 g/t Au and KT-29: 28.0m @ 2.78 g/t Au, including 8.0m @ 6.01 g/t Au and drill hole KT-38: 32.0m @ 1.3 g/t Au; including 4.0m @ 3.20 g/t Au (Figures 1, 2, 3 & 4). These drill intersections are interpreted to be close to true thickness of the gold mineralisation. Individual 1 metre samples of the 4 metre composite gold mineralised intervals have been submitted to the assay laboratory for analysis with assay results expected by mid-January. It is anticipated that the mineralised intervals based on the yet to be received 1 metre samples may be higher in gold grade but narrower than those reported in these broader 4 metre composite samples. New continuous surface rock samples taken along access tracks constructed for this RC drill program also returned significant gold mineralisation including: 10.0m @ 12.2 g/t Au, 44.0m @ 3.37 g/t Au, 15.0m @ 10.10 g/t Au and 6.5m @ 5.18 g/t Au (Figure 1). Further work is required but gold mineralisation appears to be hosted in fault zone breccias that are both subparallel to and cross-cut foliation in the host shales and schists in association with arsenic and antimony. Exploration and evaluation of the Kavaklitepe gold project is managed by Teck Anadolu Madencilik Sanayi v. Ticaret A.S. (“Teck”), a Turkish affiliate of Teck Resources Limited through the Turkish joint venture company Kavak Madencilik A.S. that is 30% owned by Zenith Minerals Limited. As previously advised (ASX Release 30th Oct 2018) both Teck & Zenith parent entities agreed to contribute their share (70% and 30% respectively) of joint venture funds towards the drill program to maintain their respective project interests. | |
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