News: Zenith Minerals acquires key manganese ground from Rio Tinto

Zenith Minerals (ASX:ZNC) may trade firmer after acquiring Rio Tinto’s (ASX:RIO) Earaheedy manganese tenements in Western Australia.

These acquisitions see Zenith nearly double its 100% owned holdings over manganese target horizons to 130 kilometres of strike, and includes all known manganese prospects.

Previous manganese drilling by Zenith in the Earaheedy Basin has returned intersections including 3 metres at 41% manganese from 5 metres, and 3 metres at 34.8% manganese from 19 metres, amongst several others.

Zenith will now process a VTEM airborne electromagnetic geophysical survey flown by Rio covering 40 kilometres of strike to assess manganese targets.

In addition to the acquisition of the Rio Tinto tenure, Zenith has applied for a new exploration licence over the Blue Cliff manganese prospect, where previous drilling intersected 2 metres at 33% manganese from 2 metres, and 3 metres at 26.1% manganese from 22 metres.

Zenith is continuing to review potential acquisitions to both strengthen existing projects and add to its project pipeline, as it see the current market weakness as presenting opportunity.

The company was the first mover for manganese in the Proterozoic aged Earaheedy Basin in Western Australia, and has discovered and drill tested several zones of near surface manganese oxide.

Zenith is certainly in acquisitive mood - earlier this month it acquired up to 100% interest of the Develin Creek Project in Queensland with JORC resources of 1.76 million tonnes grading 1.7% copper, 2% zinc and 0.2g/t gold.