Zenith Minerals executive chairman Peter Bird has described copper as the most underfunded input commodity in the green energy supply chain as the company steps up exploration at Develin Creek and Flanagans.

Outlining the work planned in coming weeks at the company’s Queensland copper assets, Mr Bird highlighted the favourable supply-demand balance for red metal producers.

“Consumption has been growing at a compound level of approximately 2 per cent per annum for a number of years,” he said.

“Copper is also the ‘absolute green energy metal’ and is projected to need a forward capital commitment of circa $US106b to ensure that by 2028 the supply side deficit of an estimated 5.4Mt is met.

“This is by far the most underfunded green energy input commodity in the supply chain in an era where everything environmentally clean, and most likely electrical is desired.

“This could be your car, bus, green electricity generation or battery.”

Upcoming programs at Develin Creek and Flanagans

Zenith describes the Develin Creek project in Central Queensland as a very high-order VMS style copper–base metals target spanning over of 50km strike length of favourable host stratigraphy.

It already has an Inferred Mineral Resource of 2.57Mt grading at 1.76 per cent copper, 2.01 per cent zinc, 0.24g/t gold and 9.6g/t silver (released 2015).

A seven-hole maiden RC drill program completed at the southern end of the property in late 2020 at the greenfields Snook copper prospect proved successful.

Zenith said recent detailed geological mapping confirmed that the most prospective portion of the Snook prospect remained open, with immediate follow-up work required.

The company is planning a drilling program from mid to late-March at the Sulphide City mineral resource and follow-up drilling at Snook from April.

An airborne aeromagnetic and ground based (IP) geophysical surveys are planned to be completed over the area this month.

The Flanagans copper-gold project contains several high-grade copper and gold prospect areas.

Soil sampling (500 samples), geological mapping and rock chip sampling of the copper and gold targets is planned for April-2021.