Consolidated Zinc (ASX:CZL) reports that an exploration program has been approved for lithium-focused exploration to be completed this year, following completion of the acquisition of privately held WestOz Lithium.
As part of that transaction, Consolidated Zinc obtained 1,000km-square of tenements prospective for lithium mineralisation, located in the Pilbara region of Western Australia, near two of the world’s largest spodumene lithium deposits.
Consolidated Zinc reports that 4 of the 5 Exploration Lease Applications (ELAs) have now been granted, with the remaining application in the Marble Bar region expected to be granted shortly.
The company notes that the key steps in the exploration program include several heritage agreements being finalised; initial reconnaissance outcrop rock chip sampling to be undertaken; a hyperspectral evaluation of the 5 Pilbara project tenements to be initiated; and geological mapping and comprehensive follow-up sampling / assaying expected to occur over the next 3 months.
Commenting on exploration program, Managing Director Brad Marwood noted: “Consolidated Zinc’s recently acquired 1,000km-square of Pilbara tenements gives the company a major new focus in this highly regarded Western Australian exploration and development location with a strong record of hosting lithium mineralisation.
“Consolidated Zinc’s recently acquired 1,000km-square of Pilbara tenements gives the company a major new focus”
CZL’s Pilbara Project will be systematically, geologically, and geochemically evaluated over the next 3 months by three geological teams, with the goal of locating and sampling LCT pegmatites containing lithium mineralisation in the form of spodumene minerals.
The intent is to develop individual targets as rapidly as possible, to enable Heritage Surveys to be conducted and drill evaluation to commence with the arrival of the drilling season in April 2023.”
Consolidated Zinc owns 100% interests in the Pilbara Lithium and Wandagee Projects, located in the Pilbara and Gascoyne regions of Western Australia. The Pilbara Projects are ‘highly prospective’ for lithium and are situated near two of the world’s largest hard rock lithium deposits (ASX:PLS – Pilgangoora, and ASX:MIN – Wodgina) and other deposits and occurrences near Marble Bar.
The company also owns 100% of the Plomosas Mine, located 120km from Chihuahua City, Chihuahua State, Mexico. Chihuahua State has a strong mining sector with other large base and precious metal projects in operation.
Historical mining at Plomosas (between 1945 and 1974) extracted over 2 million tonnes of ore grading 22% Zn+Pb, plus over 80g/t Ag. Only small -scale mining continued to the present day and the mineralised zones remain open at depth and along strike.
It recommenced mining at Plomosas and to intends to exploit its potential by mining the ‘high-grade’ zinc, lead and silver Mineral Resource and through the identification, exploration, and exploitation of new zones of mineralisation.
Images: Consolidated Zinc Ltd & iStock
