Zinc of Ireland Faces Key Assay Wait as Mt Clere Drilling Shows Sulphide Zones
Zinc of Ireland NL has completed key drilling at its Mt Clere Project in Western Australia, intersecting broad sulphide zones, while refining its zinc-lead portfolio in Ireland with ongoing gravity surveys. The company holds a solid cash position of approximately A$1.25 million as it pursues further exploration and potential acquisitions.
- Completed two diamond drill holes at Mt Clere with broad sulphide intersections
- Refined Rathdowney zinc-lead licences, reducing portfolio to 23 active licences
- Gravity geophysical surveys underway at Kildare block to support drill targeting
- Pending exploration licence for Murchison Gold Project in Western Australia
- Cash on hand approx. A$1.25 million; issued 15 million shares for Mt Clere earn-in
Mt Clere Drilling Signals Potential Base Metals Discovery
Zinc of Ireland NL (ASX – ZMI) marked a significant milestone in the June quarter by completing two diamond drill holes at its Mt Clere Project in Western Australia. The drilling intersected broad sulphide haloes exceeding 50 metres within promising stratigraphy, including visible chalcopyrite, pyrite, and pyrrhotite mineralisation. These findings hint at potential SEDEX-style base metal deposits, a sought-after mineralisation style known for zinc, lead, and copper.
The company is currently reviewing follow-up work, including step-out drilling and geophysical surveys, with assay results expected in the third quarter. The Mt Clere Project sits within the Mesoproterozoic Edmund Basin, a geological setting with known mineral potential but limited prior drilling, making these early results particularly intriguing.
Rathdowney Zinc-Lead Portfolio Streamlined and Surveyed
In Ireland, Zinc of Ireland continues to refine its Rathdowney Trend zinc-lead project portfolio, reducing its holdings from a peak of 73 prospecting licences to 23 active licences. This strategic consolidation focuses resources on the most prospective areas, including the flagship Kildare deposit, which hosts an inferred resource of 11.3 million tonnes grading 9.0% combined zinc and lead.
During the quarter, the company commenced gravity geophysical surveys at the Kildare block, a technique credited with recent discoveries by peers such as Group Eleven Resources near the Ballywire Project. The gravity data collection is ongoing, with over 300 stations surveyed year-to-date, supporting drill target generation. Discussions with interested third parties regarding the Rathdowney project remain active, signaling potential partnership or transaction opportunities.
Murchison Gold Project Licence Pending
Zinc of Ireland’s exploration ambitions extend to the Murchison Gold Project in Western Australia, where an exploration licence application covering 33.5 square kilometres remains pending. The project targets shear-hosted orogenic gold mineralisation along the Big Bell Fault extension, a structure associated with significant gold mines nearby. Limited previous drilling has been conducted, and the company plans reconnaissance mapping and sampling upon licence grant, followed by drilling as warranted.
Corporate and Financial Position
As of 30 June 2025, Zinc of Ireland reported cash reserves of approximately A$1.25 million. The company issued 15 million ordinary shares in May as part consideration for the Mt Clere earn-in agreement, reflecting progress in project development. Additionally, the company expects to recover around CAD$73,000 from licence deposit fees following the surrender of its Manitoba, Canada exploration licences earlier this year.
Operating cash outflows were modest, reflecting disciplined expenditure on exploration and corporate costs. Zinc of Ireland continues to evaluate complementary resource projects, signaling a proactive approach to growth through acquisition or joint ventures.
Bottom Line?
With assay results pending and third-party discussions underway, Zinc of Ireland’s next moves will be critical in defining its growth trajectory.
Questions in the middle?
- What will the assay results from Mt Clere drilling reveal about the deposit’s economic potential?
- How might ongoing third-party negotiations impact the future of the Rathdowney Zinc-Lead project?
- What timeline and exploration strategy will Zinc of Ireland pursue once the Murchison Gold licence is granted?
