Zinc of Ireland (ASX:ZMI) go green on rare earths

Zinc of Ireland has entered the green metal sector, completing the total acquisition of a highly prospective Cascade Project in an emerging rare earth province north of Esperance in Western Australia.

Cascade comes ready with two walk-up anomalous drill targets, and no drilling has ever reached beneath three metres of surface.

The limited auger drilling encountered widespread anomalous mineralisation exceeding the 1000ppm TREO benchmark at the surface, a reading the company thinks could be conservative compared to the bedrock composition.

It sits within the Munglinup Gneiss terrane which represents the southernmost exposures of the Yilgarn Craton, and the province is already endowed with infrastructure as it attracts a new wave of rare earth exploration.

The contiguous Meeka Metals tenements are blanketed by a thick horizon of shallow, high-grade clay hosted mineralisation, while OD6 Metals’ adjacent property has reported its own consistently ‘bumper’ grades up to 6605ppm TREO from extensive clay thickness.

Zinc of Ireland Non-Executive Chairman Peter Huljich said it was a low-cost and easily explored entry into the sector.

“The exploration model that will be applied offers immediate and significant leverage to shareholders, at a time when the Esperance REE province continues to deliver exciting results and many countries seek to guarantee their own supply of REE metals from outside of China,” Mr Huljich said.

“ZMI is also excited about the potential of our brownfield’s Rathdowney Irish base metal project, which is being actively explored. We remain focused on unlocking value for shareholders through this project, which contains over 1mt of contained zinc and lead metal,” he added.

The company will now get to exploring two areas with noted potential for discovery of deeper mineralisation and will get to drill testing as soon as access is confirmed.

Project location map

ZINCOFIRE FPO

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

Zinc of Ireland NL operates as a mineral exploration and development company in the Republic of Ireland. The company explores for zinc, lead, and silver deposits. Its flagship project is the Kildare project comprises contiguous prospecting licenses covering an area of approximately 240 square kilometers located southwest of Dublin. The company was formerly known as Global Metals Exploration NL and changed its name to Zinc of Ireland NL in July 2016. Zinc of Ireland NL was incorporated in 2007 and is headquartered in Subiaco, Australia.

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