Marindi Metals awarded WA Government EIS drilling co-funding

THE DRILL SERGEANT: Marindi Metals (ASX: MZN) has picked up $107,250 in funding from the latest round of the Western Australian Government’s Exploration Incentive Scheme, (EIS).

The company applied for the funding to enable it to drill three deeper diamond holes into the Prairie Downs Fault Zone (PDFZ) between the Wolf prospect and the Prairie Downs base metal sulphide resource.

According to Marindi the Wolf prospect hosts zinc mineralisation as a zinc rich chlorite, a mineral that when recorded elsewhere has been closely associated with zinc sulphide mineralisation.

Recent petrology carried out by Marindi’s consultants and the CSIRO confirmed Marindi’s original interpretation that the Prairie‐Wolf corridor represents the vent of a large hydrothermal cell.

The company explained that zinc-rich hydrothermal solutions are regarded as the principal mechanism of deposition and this occurred in an epithermal (low temperature) environment.

The extent of the mineralisation at Wolf has led Marindi to consider it to be the source of what could be a substantial body of zinc mineralisation that has been accessed by the PDFZ.

At Wolf the main zone of zinc mineralisation is up to 100 metres wide but can be traced at levels of 0.2 per cent zinc for over 400m in width, which Marindi has positively identified over a strike length of 500m.

From historic drilling and recent mapping the company has determined this to indicate a potential strike of at least 1.5 kilometres, making it a very large system.

“At Prairie approximately two kilometres to the grid east along strike from  Wolf zinc mineralisation takes the form of the common zinc sulphide, sphalerite,” Marindi Metals said in its ASX announcement.

“It occurs as massive veins within a quartz barite filled fault zone that is interpreted to have been be remobilised from a larger zinc system in close proximity.

“It is highly unlikely that the two systems are not related and the EIS drilling will help aid the understanding of the relationship between Wolf, Prairie and the PDFZ.”