CZL goes deep and comes back with big grades
Consolidated Zinc (ASX:CZL) has gone deep at Plomosas, and come back with zinc grades reaching nearly 48%.
The ASX-listed junior explorer told its shareholders yesterday that it had received assays back from 10 previously drilled holes, making it 42 holes which have been drilled at the project.
The latest set focused on both the deeper ‘Level 7’, and the shallower Tres Amigos zone.
The higher grade results, however, came from the deeper drilling which is testing an extension to the main mineralisation zone.
The continued high grade hits at both Tres Amigos and the deeper Level 7 will be a fillip to CZL as it continues to work towards a maiden JORC resource.
“Drilling continues to return excellent grades at both Tres Amigos and from the deeper zone within the mine and drilling is planned to continue with multiple rigs in order to continue to expand the footprint of mineralisation,” CZL managing director Will Dix said.
“The company continues to work towards our maiden JORC resources at both Tres Amigos and from the semi oxide and sulphide zones beneath level 7”
About CZL and Plomosas
The main project 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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