CZL gets more validation on deeps drilling
Published 24-MAY-2016 12:56 P.M.
1 minute read
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Consolidated Zinc (ASX:CZL) has continued to hit high grades as part of its campaign to hit deeper horizons at its Plomosas zinc mine in Mexico – with grades of 48% hit.
It had previously released some results from the ‘Level 7 Deeps’ drilling campaign, but the latest results from assays back up the earlier bullish sentiments.
It told its shareholders that grades of up to 41.94% zinc and 16.9% lead had been hit in the latest drill hole – backing up previous hits of up the 48% Zn.
The latest drillhole, LV7DD018, was terminated at 62.5m having encountered “massive sulphide mineralisation” from 57.6m.
The assay results on their own don’t tell the whole picture, but given previous results had also hit high grades at Level 7, CZL will likely feel more validated about its decision to explore Level 7.
“Another fantastic interception, further confirming the high grade nature of the mineralisation below Level 7,” managing director Will Dix said.
With the latest hole assay now back, CZL has wrapped up the latest batch of drilling but given it’s now drilling just 200m to the north it is expected to release more drill results as this continues.
About CZL and Plomosas
The main game for CZL is the Plomosas Zinc Project in Mexico.
It has been mined to the tune of 2 million tonnes of ore in the past, with an average zinc + lead grade of 22%. It has mined down to 270m below the surface.
CZL currently has a 51% stake in the project, but is aiming to increase this to above 80%.
It covers 11 exploration concessions covering over 3000 hectares in the northern Mexican state of Chihuahua, about two hours flight from Dallas to the north east.
CZL is aiming to initially focus on a 200tpd processing plant which is already present on site, using cashflow from early production to fund exploration.
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