Resource definition drilling continues from drill cuddy 8.1 on Level 8 to identify extensions to the JORC compliant resource.
Drilling has encountered a fault zone displacing the main mineralised zone, intercepts outside the faulting have obtained significant results up to 33.2% Zn+Pb.
Additional adjoining tenements applied for to cover prospective ground identified by regional exploration.
Consolidated Zinc Limited (CZL:ASX) is pleased to present the following update detailing drilling progress and assay results received at the Plomosas Project resource definition drilling program.
Figure 1. Location of Plomosas mine, Mexico
CUEVITAS RESOURCE DEFINITION DRILLING
Underground drilling continued in Level 8 from cuddy L8.1 testing resource extensions below Level 7.
Drillholes LV8006 to LV8017 were completed since recommencement of drilling in 2017. Assays were returned for holes L8006 to LV8009 while massive mineralisation was visually identified in LV8014 (assays awaited).
Drilling aimed to extend the recently announced JORC compliant resource (14 December, 2016) to the south where mineralisation may be displaced by NE trending faults. Several of the drillholes encountered a wide fault zone rendering identification of the mineralised extension difficult. Where drilling intersected the mineralised sequence outside of the faulting, significant mineralisation was encountered, such as in LV8006 and LV8008, namely:
LV8006 2.75m at 25.70% Zn, 10.52% Pb, 64.00 g/t Ag
LV8008 3.85m at 3.72% Zn, 1.91% Pb, 18.86 g/t Ag
In addition, a visual examination of LV8014 core showed an intersection of 2.95m semi?massive and massive semi?oxidised sulphide mineralisation.
Table 1 summarises the highlights encountered in drillholes reported above and details the assays returned and awaited. Table 2 provides additional hole details.
Significantly, the drilling to date continues to demonstrate that high grade mineralisation extends below Level 7 (Figures 3, 5?6) which, at approximately 240m below surface, was the deepest of the main ore workings developed at Plomosas. However, fault displacement has made drilling from Cuddy 8.1 difficult and further drilling will step back to test for mine displacements and what appears to be coincident magnetic highs reflective of the mine sequence and massive sulphide mineralisation.
Figure 2: Plan of Level 7 Mineral Resource wireframed solid showing drillhole traces. Cuddy 8.1 on Level 8 is in the south of the image and the area outlined is presented in Figure 4.
Figure 3: Oblique view looking NW, of Level 7 Deeps Mineral Resource wire framed solids showing drillhole traces and Cuddy 8.1.
Figure 4: Plan view of Level 8 drill cuddy 8.1, showing drillhole traces, assay results and geophysical targets.
*TW is True Width and represents the best estimate of the intercept based on the geological interpretation of the sequence.
EXPLORATION TENEMENT APPLICATION OVER ADJOINING GROUND
An initial regional exploration program reported on 2 November, 2016, identified vacant ground immediately to the north and adjoining the Plomosas concessions. This ground was considered to be prospective based on its geological setting, parallel and near to the mine sequence, and anomalous zinc and lead resultsfrom nearby reconnaissance rock chip sampling returning up to 1.06% Zn (sample 425911) and 4.41% Pb (sample 425912) from the Fenomino area.
Figure 5 illustrates the location of the area for which application was lodged this month.
Figure 5: Plan view of applications lodged for tenements covering vacant ground adjoining and to the north of the existing Plomosas mine landholding. These areas were highlighted as prospective following an initial geological and geophysical survey and reconnaissance sampling.
Figure 6: Plan view of existing tenements and tenement applicationssuperimposed on magnetic signature. The outlined areas have been prioritised as warranting exploration follow up.
Managing Director Will Dix commented: “The new intersections to the south of our modelled mineralisation continue to support the Company’s view that significant base metal resources exist down dip and down plunge of the mine development. We will continue to pursue this area and other targets to build our resource base. In addition we will look at regional targets and aggressively pursue other opportunities as they are identified, be they within the current mine infrastructure or in new areas.”
ABOUT CONSOLIDATED ZINC
Consolidated Zinc Limited (ASX:CZL) is a minerals exploration company listed on the Australian Securities Exchange. The Company’s major focus is in Mexico where it recently acquired 51% of the exciting high grade Plomosas Zinc Lead Silver Project through its majority owned subsidiary, Minera Latin American Zinc CV SAPI. Historical mining at Plomosas between 1945 and 1974 extracted over 2 million tonnes of ore grading 22% Zn+Pb and over 80g/t Ag. Only small scale mining continued to the present day and the mineralised zones remain open at depth and along strike. The Company’s main focus is to identify and explore new zones of mineralisation within and adjacent to the known mineralisation at Plomosas with a view to identifying new mineral resources that are exploitable.
Competent Persons’ Statement
The information in this report that relates to exploration results, data collection and geological interpretation is based on information compiled by Steve Boda BSc (Hons), MAIG, MGSA, MSEG and Andrew Richards BSc (Hons), Dip Ed, MAusIMM, MAIG, MSEG, GAICD. Messrs Boda and Richards are both Members of Australian Institute of Geoscientists (AIG) and Mr Richards is also a Member of the Australasian Institute of Mining and Metallurgy (AusIMM).
Both Messrs Boda and Richards have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves’ (JORC Code). Messrs Boda and Richards consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.
Figure 7. Plan view of the Plomosas mine showing location of the cross section in Figure 8 (trace A?A’) and work areas referred to in the text including Level 7 access for drilling the Main Manto Horizon deeps.
Figure 8. Section view of the Plomosas mine through Cuevitas area (A?A’) showing the Tres Amigos zone, historical drilling and the drilling planned for Main Manto Horizon below Level 7.
Original Article: http://www.consolidatedzinc.com.au/wp-content/uploads/2017/02/090217-Resource-Drilling-Update-FINAL.pdf
