ZMI holds a 100% interest in the Kildare Project, via its wholly-owned subsidiary Raptor Resources Ltd.

The Kildare Project comprises 6 contiguous licenses covering ~250km2, which are located ~40km south-west of Dublin and within the Rathdowney mineralised trend. The region hosts several world-class zinc mines including Vedanta’s Lisheen Mine, which ceased production in 2015 after 17 years of operation. Other global resource companies exploring in the region include Teck (Canada’s largest diversified resources company) and Boliden.

Kildare District is host to numerous Mississippi Valley Type (“MVT”) zinc-rich breccias, and the favourable “Waulsortian Limestone” host rock forms a bed across the district.

 

Initial exploration activities at the Kildare Project focused on the Shamrock, McGregor and Allenwood prospects, with a maiden drilling completed in August 2016 which confirmed and extended historical mineralisation, followed by a more expansive 3,000m diamond drilling program in the first half of 2017. 

Maiden Mineral Resource Estimate 

A maiden Global Inferred Mineral Resource Estimate (MRE) was independently estimated for the McGregor and Shamrock Prospects at the Kildare Project by geological consultants Al Maynard & Associates (AM&A) in June 2017. 

The MRE comprises approximately 5.2 million tonnes at an average grade of 8.6% combined Zn+Pb (7.2% Zn and 1.4% Pb) for 374,400 tonnes of contained zinc and 72,800 tonnes of contained lead based on a cut-off grade of 5% combined Zn+Pb for fresh and 6% combined Zn+Pb for weathered mineralisation.   

The individual resources at McGregor and Shamrock are as follows:

  • McGregor: 4.1Mt at 8.9% combined Zn+Pb (7.5% Zn and 1.4% Pb); and
  • Shamrock: 1.1Mt at 7.4% combined Zn+Pb (6.1% Zn and 1.3% Pb) 

This initial resource estimate was based on the extensive database of historical drilling information, together with generations of geological mapping and geophysical surveys, which has been exhaustively reviewed, verified and collated by ZMI since acquiring the project. 

This database comprises more than 4,500 assays and 2,300 lithological intervals from historical records which have been added to a database of nearly 700 drill holes. 

The resource, which extends from surface to a vertical depth of approximately 450m depth and encompasses several mineralised horizons, is set out below:

Table 1: May 2017 Global Inferred Mineral Resource estimate for the Kildare MVT Zinc Project

Inferred Cut-Off Mt Zn % Pb%
McGregor        
Weathered 6% 0.1 8.8 3.1
Fresh 5% 4.0 7.5 1.3
Shamrock        
Fresh 5% 1.1 6.1 1.3
Totals   5.2 7.2 1.4

 

For full details of the Company’s maiden Mineral Resource Estimate for the Kildare MVT Zinc Project, please click here to view the Company’s ASX Announcement of 1 June 2017. 

The maiden mineral resource provides a strong foundation for ZMI’s continuing exploration and resource development activities at the Kildare Project, where a pivotal 3,000m diamond drilling program is continuing to test multiple targets, including extensions of mineralisation at the Shamrock and McGregor Prospects. 

New Discoveries 

ZMI completed an extensive drilling program in the first half of 2017 which has resulted in a number of important developments for the project in terms of ZMI’s geological understanding of the project and its longer-term potential. 

Recent drilling has intersected multiple zones of mineralisation outside of the maiden Mineral Resource at the McGregor Prospect, demonstrating the potential to grow the resource. 

Diamond drill-hole Z_4069_003 returned a spectacular high-grade zinc intersection in June 2017, including:

• 23.25m at 12.7% ZN+0.8% Pb from 396.53m, including:

  • 7.69m at 17.2% Zn+1.0% Pb from 401.33m

This hole, which also intersected a number of additional zones of high-grade mineralisation, is located 45m from the nearest drill-hole and is likely to have a positive impact on the maiden Mineral Resource estimate. 

For full details of the new exploration results at the McGregor Prospect, please click here to view the Company’s ASX Announcement of 23rd June 2017. 

Elsewhere, ZMI has also recently announced the discovery of significant new high-grade zinc mineralisation across multiple zones at the Celtic Tiger prospect, located ~1km west of the McGregor Prospect. 

Diamond drill hole Z_4069_004 confirmed the presence of zinc mineralisation across four zones, including a best result of 2.85m @ 20.2% Zn + 0.88% Pb from 193.9m, opening up an exciting new area for follow-up exploration well outside the project’s existing resource inventory.

This hole was designed to test the western margin of ZMI’s recently interpreted Allenwood Graben, a prospective structural setting overlooked by past explorers.

For full details of the new discovery at the Celtic Tiger Prospect, please click here to view the Company’s ASX Announcement of 18th July 2017. 

Ongoing Program

After processing the abundant historical data for the Kildare Project and correlating this with the results of its drilling programs in 2016 and 2017, ZMI has developed a clear strategy to continue to unlock the significant potential of the project. 

Some of the recent considerations for the Kildare Project emerging from recent exploration activities include:

  • The potential for the mineralisation at the McGregor and Shamrock prospects to link up;
  • The potential for high-grade mineralisation in the Sub-Reef Zone, which appears to be considerably more widespread than previously perceived;
  • The role which deformation may have played in the development of the zinc-rich breccias, which have often been viewed as the result of dissolution;
  • The potential for the faults that underwent the most displacement in a district to host the biggest orebodies in that district – a feature of several large deposits in Ireland. Such faults at Kildare remain essentially untested due to the emphasis on geochemistry and geophysics to guide historical exploration.
  • The emerging potential of the western margin of the Allenwood Graben, which is virtually untested, opening up a prospective strike length of approximately 4km.

An aggressive multi-pronged exploration effort is planned at the Kildare Project in the second half of 2017, with key objectives including:

  • Expanding the current JORC resource at McGregor;
  • Following up on the exciting new discovery at Celtic Tiger;
  • Testing other priority regional exploration opportunities, including within the western margin of the Allenwood Graben 

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