Zinifex makes exciting new discovery on the West Coast of Tasmania

Diamond drilling at Zinifex’s Jupiter prospect approximately 5 km south of its Rosebery mine on Tasmania’s West Coast has intersected significant mineralisation in three holes. Assays for drill hole JP 353, the only hole received so far, identified 23 m at 5.6% Zn, 1.1% Pb, 38 g/t Ag and 0.8 g/t Au from 61 m depth, including 9.5 m at 9.5% Zn, 2% Pb, 70 g/t Ag and 1.2 g/t Au.

Commenting on the announcement, Stewart Howe, Zinifex’s Chief Development Officer, said that this was an exciting new discovery in an area previously thought to be unprospective. “The discovery opens up a whole new area for exploration that is only a short distance from our Rosebery operations. Importantly the mineralisation looks just like Rosebery style mineralisation indicating that we may have intersected a new Rosebery type deposit only 5 km away from the existing mine. This has the potential to be a major new discovery with the added attraction that it is close to surface. Work will be fast tracked to determine the extent of the find.” The discovery is open at depth and along strike.

Zinifex Rosebery mine General Manager, Stuart Gula, said that the discovery is potentially very significant, both in terms of the expansion of Zinifex’s operations on the West Coast but also for the local region that this activity supports. “While it is obviously early days, it has the potential to significantly add to the mineral wealth of the West Coast of Tasmania. This is good for the region driving investment and employment growth locally, but also the State’s economy more generally.”