High grade start to 2016 for CZL
Having resumed exploration work as quickly as possible following the Christmas break, CZL says its “drilling has successfully improved the understanding of the geological setting, structure and mineralisation prior to a drill out of the area and resource modelling.”
CZL hopes to obtain its Maiden JORC resource sometime later this year after completing a Scoping Study as a priority.
CZL is currently focused on its flagship Plomosas Zinc Project in Mexico, covering 11 exploration concessions spanning over 3000 hectares in the northern Mexican state of Chihuahua. Over 2 million tonnes of ore have been mined at Plomosas in the past, with an average zinc + lead grade of 22% and over 80g/t Ag. CZL currently has a 51% stake in the project, but is aiming to increase this to above 80% subject to milestones being met.
Since the start of this year, CZL has drilled three drill holes for a total of 490m with a fourth currently in progress. Detailed assay results for all four are imminent although preliminary results have already been received for one.
The LV7DD002 hole returned 6.75m @ 27.2% Zn, 12.7% Pb and 60.4 g/t Ag from 45.25m.
CZL says that detailed assay results are still pending, but preliminary results already indicate high grade zinc mineralisation with LV7DD002 intersecting a 6.75m sequence comprising 4.5m of “massive zinc sulphide mineralisation over 2.25m unit of collapse breccia mineralisation”.
CZL’s Managing Director Will Dix said, “This is an outstanding result for the first phase of drilling...and a great start for 2016. It’s exciting to see our geological model validated with such encouraging results.”
Exploration drilling and further geological analysis remains a top priority for CZL. The company says that “drilling will continue both in the main zone extensions and at Tres Amigos where we [CZL] are working hard towards our maiden resource estimate.”
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.