Zenith Minerals (ASX:ZNC) has defined 30 new lithium targets at its Split Rocks Lithium Project in Western Australia.
These new lithium targets were outlined from an auger soil geochemical sampling program that has been conducted throughout the project area.
The company, which has a market capitalisation of $24.66 million, says the soil geochemical data has been assessed in detail by its technical team based on lithium-caesium-tantalum (LCT) pegmatite-related elements, including rubidium and tin values.
Zenith also reports that the new lithium targets are in addition to the ‘very large’, greater-than-9km-long-by-2km-wide Cielo lithium target, which was previously announced to the ASX on 9 February 2023.
Commenting on the new targets identified, Zenith Minerals Managing Director Michael Clifford says: “We are delighted to announce that we have now defined 30 additional lithium targets within our Split Rocks project area.
“Zenith is very keen to see these targets being tested to unlock the full potential of this exciting project area”
These new targets are in addition to the very large Cielo target that we reported earlier this year. Zenith is very keen to see these targets being tested to unlock the full potential of this exciting project area.”
On the back of this announcement, Zenith’s share price has increased by 10% to $0.077 as of 12:30pm on Thursday afternoon.
The Split Rocks Lithium Project is located about 40km south of Marvel Loch in the Goldfields region of Western Australia.
Zenith Minerals is an Australia-based minerals exploration company holding 3 lithium projects in Western Australia. As of 30 June 2023, the company had $2.272 million cash and cash equivalents at hand, according to its latest quarterly report published on 31 July 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: Zenith Minerals Ltd
