Zamia Metals (ASX: ZGM) continues to deliver high grade molybdenum hits at the Anthony molybdenum deposit, with the latest intersections from diamond tails in the south of the project.
Zamia has identified some extremely wide intersections, which includes; 402 metres at 533 parts per million (ppm) molybdenum from 102 metres.
Within this intersection are some higher grade hits, which include; 9 metres at 1,100ppm molybdenum, 16 metres at 1,059ppm molybdenum, and 14 metres at 1,037ppm molybdenum.
Zamia plans another diamond drill campaign, to extend previously drilled reverse circulation drill holes, in order to test the extent of the resource depth down to 500 metres.
The company has identified 14 new locations with the campaign scheduled to commence in the near future.
Zamia also plans further reverse circulation drilling to define the resource laterally and anticipates additional diamond tails will be required to provide a clearer understanding of the size of the resource.
Once the company has confirmed the extent of the deposit laterally, a Scoping Study can be conducted.
Resource upgrade
Highlighting the success of exploration by the company, Zamia is looking to deliver a resource upgrade later this month, which would be the second for 2011.
In February 2011 Hellman & Schofield produced a sulphide resource estimate, which jumped 38% to 173 million tonnes at 430ppm molybdenum, for 163 million tonnes of contained molybdenum.
The high grade portion of the deposit increased by 56% to 20 million tonnes at 810ppm molybdenum for a contained molybdenum of 36 million tonnes.
A simple pre-concentration process can upgrade both the lower grade oxide and sulphide resources, which surround the higher grade zones.
About Anthony
Zamia has a dual strategy at Anthony, with the first to determine the extent of the deposit (both laterally and at depth) and to move the project towards feasibility.
Secondly, the company will test other targets within the company’s extensive tenement portfolio, which covers 1300 square kilometres of exploration permits and applications.
The project is strategically located near the towns of Clermont, Emerald, Moranbah in the Clermont district of central Queensland, with a sealed road to site, grid power nearby and a new water pipeline planned.