New zinc zone at Menninnie
The Zinifex-Terramin joint venture has discovered a new zone of zinc-lead mineralisation at its Menninnie project, west of Port Augusta on South Australia’s Eyre Peninsula.
Terramin Executive Chairman, Dr Kevin Moriarty said a recently completed induced polarisation (IP) survey over the Menninnie zinc project had shown mineralised structures extend two kilometres to the south of the known Menninnie Central Zone. “Terramin drilled six holes (four diamond and two reverse circulation) to test the IP anomalies and found zinc-lead mineralisation in five of them that will now be assayed,” Dr Moriarty said. Terramin and its joint venture partner Zinifex currently have more than 1000 samples, from the Menninnie Central drilling program and the latest drilling of the new Menninnie South mineralisation, awaiting assaying. “We are expecting that the assay results and further processing of the geophysical data will enable the calculation of a resource estimate for Menninnie Central in the New Year. Further drilling of the Menninnie South mineralisation is planned to commence in March 2007,” Dr Moriarty said. The Menninnie drilling program is fully funded by Zinifex, which can earn up to a 70 percent share in the project with an outlay of up to $8m. In 2006 alone, the joint venture more than doubled the number of effective diamond drill holes completed by previous explorers on the prospect over the past 25 years.