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Energia Minerals Ltd estimates mineral bounty at Gorno Zinc Project

Last updated: 18:00 16 Mar 2016 AEDT, First published: 17:00 16 Mar 2016 AEDT

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Energia Minerals Limited (ASX:EMX) has reported indicated and inferred resources of zinc, lead and silver at the Colonna Zorzone Zinc Deposit within its 100%-owned Gorno Zinc Project in Northern Italy.

The Maiden Resource Estimate calculated by Jorvik Resources Pty Ltd follows a successful underground diamond drilling program over the last eight months.

Total indicated and inferred resources calculated by Jorvik Resources is 3.87 million tonnes grading 6.1% zinc, 1.6% lead and 25 grams per tonne silver. This would yield 238,000 tonnes of contained zinc, 63,000 tonnes of contained lead and 3.1 million ounces of contained silver.

The Gorno Zinc Project is an Alpine style Zinc-Lead-Silver deposit, yielding high-grade Mississippi Valley Type zinc.

Energia Minerals have also generated a new exploration target of 7-10 million tonnes of Zinc and Lead at the Gorno Zinc Project.

Zinc prices have risen sharply during the first few months of 2016 and Energia Minerals is aiming to fast-track development of Colonna Zorzone to leverage the tightening zinc supplies.

Project viability will be enhanced due to the high estimated silver content.

The Maiden Resource Estimate paves way for the next phase of evaluation of the Zorzone Deposit, which includes a scoping study to be completed by the end of this month.

 

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