- Zeus Resources (ZEU) wraps up a phase one drilling program at its Mortimer Hills project in Western Australia
- The company obtained “encouraging” results, including 34 metres in five pegmatites intercepted from surface to 70 metres at the Pegmatite Creek prospect
- Meanwhile, reconnaissance drilling at the Alpha prospect returned assays including two pegmatite intersections each of 8.5 metres in a single hole
- Based on its phase one results, Zeus plans to carry out a phase two program over the whole potential strike extent of the pegmatites
- Zeus Resources is down 35.2 per cent, trading at 3.5 cents 3:20 pm AEST
Australian mineral exploration company Zeus Resources (ZEU) has completed a phase one drilling program at the Mortimer Hills project, located around 130 kilometres northeast of the Gascoyne Junction in Western Australia.
One of the notable achievements of the drilling program was the confirmation of previously mapped pegmatites at the Pegmatite Creek prospect.
Results from the new bout of drilling included 34 metres in five pegmatites, intercepted from surface to 70 metres. The assays demonstrate the presence of valuable mineral resources and further enhances the project’s prospects for success.
The exploration also indicated the Alpha prospect could potentially be an extension of Delta Lithium’s (DLI) Malinda Prospect, located to the east.
“I am really grateful to the professional team who completed this first drilling program,” ZEU Executive Director Jian Liu said.
“Through their hard work, we achieved this drilling program’s objectives with much fewer drilling metres than originally planned.”
The company said its “encouraging” results from the phase one drilling program position it well for future success, with a phase two program of work now approved for drilling.
ZEU tumbled 35.2 per cent, trading at 3.5 cents at 3:20 pm AEST.