Source: Zenith Minerals
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  • Zenith Minerals climbed 12.2 per cent in the market and announced new lithium pegmatites at Split Rocks in WA
  • 0.39 per cent grade lithium assessed, but better and more consistent grades are expected in the future
  • The company owns 100 per cent interest in the project and is also focusing on bedrock gold

Zenith Minerals jumped 12.2 per cent in the market today after finding new lithium pegmatites at its Split Rocks project in WA. Initial surveillance by the company has shown lithium grades of 0.39 per cent at their fully owned project site.

Reverse circulation drilling and air-core drilling by the company revealed the thick pegmatite bodies up to depths of 79 metres. 40 samples were taken for further assessment.

The company also has faith in higher grades to come, as Kidman Resource’s Earl Grey project nearby south-west has yielded 189Mt of lithium at 1.5 per cent.

Earlier this year in March, Zenith also executed an agreement to mine for bedrock gold on site. Previously encouraging gold grades on site include 32.73 g/t, 16.91 g/t, 16.5 g/t and 15.40 g/t among others.

2018 drilling at Split Rocks has shown varying grades of cobalt, nickel and scandium as well from four samples. Cobalt grades have peaked at 0.27 per cent, nickel at 1.45 per cent and scandium at 0.019 per cent.

The company also owns projects in QLD, Turkey, USA and Mexico. Company shares opened at 5.30 cents a piece this morning before climbing to 5.50 cents each.

ZNC by the numbers
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