Zenith Minerals (ASX:ZNC) is looking to complete an ongoing project-wide surface soil sampling and mechanised auger sampling program at the Hayes Hill Lithium Project in Western Australia.
The $59.9 million market capitalisation company says surface soil and auger sampling is looking to assess both the nickel and lithium potential at Hayes Hill.
Zenith has the option to acquire a sole 100% interest and has completed moving loop and fixed loop time domain electromagnetic (MLEM/FLTEM) surveys in the area.
Zenith reports the surveys have defined 2 ‘strong’ — up to 20,000 Siemens — bedrock conductors considered to be sub-surface, nickel sulphide drill targets.
The EM conductors sit adjacent to the well-defined surface geochemical targets at the Green Bananas deposit. Zenith is looking to test nickel sulphide targets after recent hand auger geochemical sampling returned peak assays of 0.43% nickel, 0.44% copper, 0.53% cobalt and 203 parts per million (ppm) platinum.
The company notes drill permitting is in progress to allow Zenith to test these targets.
Zenith Minerals Director Michael Clifford says the company has commenced the process for drill permitting these compelling targets and hopes to get these targets tested in the near term.
The Hayes Hill project consists of 4 granted exploration licences in a ‘highly prospective’ mineral corridor with ‘significant’ untested lithium and nickel potential.
The project sits about 10km-14km to the east and southeast of the Dome North lithium pegmatite deposit and immediately east of the Sinclair caesium pegmatite mine both owned by Essential Metals (ASX:ESS).
As of 30 September 2023, Zenith Minerals had $2.748 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Zenith Minerals
