Project of the Week: Prospech Limited - Cejkov-Zemplin
28th February 2022
Metals and mining have historically been important industries in Europe. But today these industries have shrunk dramatically from their peaks; a lack of mineral exploration around the European bloc (with a couple of exceptions) has dwindled in the recent past. No region has been hit as hard as central Europe, with few active exploration projects, and even fewer active mines.
A global demand to meet the energy transition, coupled with the recent events further east, have highlighted the importance of self-sufficiency as the world attempts to grapple with fluctuating commodity prices stemming from both political and environmental issues. It really doesn’t make sense that Europe, a continent so large, geologically rich and diverse, has been left dragging its heels with regards to mineral exploration. The countdown is on in the race to be self-sufficient in raw materials.
This week's Project Of The Week is Cejkov-Zemplin in Slovakia. The project is part of a 29.23km² 100% owned licence and is solely operated by Prospech Limited (ASX: PRS). Founded in 2014, Prospech engages in multiple mineral exploration projects within Slovakia, a nation with active quarrying and producing mines. Spotlight writer Aaron has previously covered Prospech’s Slovakian projects – check out his synopsis here. But we think Cejkov-Zemplin is exciting enough to warrant its own feature.
The Cejkov-Zemplin project area lies within an area of varying land use; agriculture, vineyards, industry and quarrying. Prospech have carefully maintained their SLO (Social Licence to Operate) by applying for working permits, engaging with landowners and communicating effectively with stakeholders.
The project sits within the eastern Slovakian Neo-Vocanic Belt. Hosted in dacitic and diorite-porphyry rocks, this epithermal system represents the low-temperature mineralization associated with classic magmatic-hydrothermal deposits (i.e., porphyries).
Precious and base metal vein-style mineralisation at the property was first identified in the 1990’s by the Slovak Government and Rio Tinto, but since then the property has not seen significant work until it was picked up by Prospech in 2018.
Since acquiring the property, Prospech have launched an active exploration campaign,commencing in 2019 with an ionic leach soil campaign centred over the known mineralised southern portion of the Cejkov-Zemplin licence. The survey was successful in defining Au/Ag, Cu/Mo and Zn/Cd targets in addition to significant pathfinder elements which aided in defining the metal target areas, alteration zones, geological variations and key structure locations. The takeaway message from the multi-element ionic leach responses was that an active in-tact polymetallic system existed within the region related to intrusive activity, which provides a high potential for discovery.
Following on from the success of the ionic leach survey, Prospech planned Phase 1 drilling; a short drilling campaign to test/verify historical drilling information gathered by the Slovak Government and Rio Tinto in the 1990’s. Historical drilling intercepted noteworthy intercepts which had never been followed up.
|Noteworthy Historical Drilling Intercepts|
|Hole ID||Interval (m)||Ag g/t||Au g/t||Pb%||Zn%|
Table 1: Noteworthy Historical Intercepts on the Property (Source: https://prospech.com.au/)
In February 2021, Prospech commenced their Phase 1 drilling campaign. Four holes totalling 794.5m returned positive news confirming the historical assays and expanding on the historical interval horizons. The 2021 drilling intercepted over 40 epithermal veins hosted within zones of hydrothermally altered rhyodacite and andesitic volcanics, with visible Ag sulphides near the rhyolite/andesite contact. The identification of over 40 veins is important as it alters the interpretation from the historical view (one single structure) to the present view of a series of parallel structures. Also of note within the Phase 1 drilling is the identification of cinnabar within the core, indicating a well-preserved mineral package with a current drill location high up in the sequence and, crucially, the potential for precious metals at depth. Anl in-depth look at assays from Prospech’s 2021 drilling campaign can be seen here.
|Key 2021 Intercepts|
|Hole ID||Interval (m)||Ag g/t||From (Depth_m)|
Table 2: Key Intercepts from Prospech’s 2021 Drilling (Source: News Release 07.07.2021)
Moving to the present, Managing Director Jason Beckton recently confirmed that the Prospech team is now engaged in a drone magnetic survey covering the entire southern section of the project area, including a recently identified new line of “lows” sourced from a lidar survey. This new zone of topographic lows is subject to no previous workings, so poses an opportunity for Prospech who are keen to analyse the magnetic data for this southern area. The results of this drone magnetic survey will be a vital tool in the planning of the Phase 3 drilling on the project.
Additional to the drone magnetics, Prospech have a proposed budget for 1,500m (minimum) to play with on their Phase 2 drilling, which is due to commence in March. Currently utilising one diamond drill rig, Phase 2 is set to test both along strike and at depth from the Phase 1 intercepts discussed above. The Prospech team is excited to commence Phase 2 drilling; Beckton believes that Phase 2 assays will be even better since Prospech have only just started to uncover this totally preserved polymetallic system, which they think will become more metalliferous with depth. The challenge, as Beckton sees it, will be increasing mineralised width intervals from current standings to economic intervals.
Finally, looking around thevicinity of the Cejok-Zemplin Project, one encounters the neighbouring property Brehov, operated by Rodinia. They too are targeting silver and base metals deposits within the Neo-Volcanic Belt, and have intersected Au mineralisation at depth. This may provide a brief glimpse of what could lie ahead for Prospech’s drilling at the Cejok-Zemplin project.
We look forward to further promising news from the Prospech camp, and await with great anticipation the outcome of their ongoing magnetics survey and soon-to-commence Phase 2 drilling. Exciting times ahead, you won’t want to miss what happens next at this project!
- The Spotlight Team
Prospech Ltd May 10, 2021 Press Release https://static1.squarespace.com/static/58214edcf7e0ab8dd17aa65e/t/609876563c2bf82c03eb0e08/1620604509400/pjn10796.pdf
Prospech Ltd June 1, 2021 Press Release https://static1.squarespace.com/static/58214edcf7e0ab8dd17aa65e/t/60b563c3c47c82129ad3472a/1622500311060/pjn10835.pdf
Prospech Ltd July 7, 2021 Press Release https://static1.squarespace.com/static/58214edcf7e0ab8dd17aa65e/t/60e50af5bca1a64106d2d13e/1625623292207/pjn10868.pdf