- Zenith Minerals (ZNC) begins drilling at the Waratah Well lithium project in Western Australia
- The company will drill four reverse circulation (RC) wells to carry out the initial drilling program, which tested the exit area of pegmatite-rich pegmatite dams.
- Up to 0.3 percent of lithium has been crossed, and this area is considered a priority for a new pegmatite testing program
- Drilling is expected to take three weeks, and results are expected in four to six weeks
- Shares of Zenith rose 2.78 percent and traded at 37 cents at 13:38 Eastern European standard
Zenith Minerals (ZNC) has begun drilling on the Waratah Well lithium project in Western Australia.
The four-hole recirculation (RC) drilling program follows the original RC program, which included seven wells that tested the area of the lithium-tantalum-rich pegmatite dikes.
Initial drilling confirmed the presence of widespread lithium-bearing pegmatite dams in the four-kilometer zone.
Individual holes crossed strongly anomalous lithium with a result of 12 meters at 0.3 percent lithium oxide and eight meters and 0.22 percent lithium oxide.
The company considers this site a priority for testing, and as part of the next RC drilling program, two more 1.5-kilometer sites will be tested for pegmatites.
Drilling is expected to take three weeks, and results are expected in four to six weeks.
“It is very nice to see that another drilling program is working on the Varata well
follow the encouraging results of the last campaign in January this year, ”said Executive Chairman David Ledger.
“This, combined with the planned exploration program at Split Rocks, demonstrates the continued commitment of our joint venture partner, EV Metals Group, to extensively explore both of our lithium projects under the agreement signed in January 2022.”
Shares of Zenith rose 2.78 percent and traded at 37 cents at 1:38 p.m. Eastern Standard Time.