ASX-listed Zenith Minerals has resumed 100% control over both the Split Rocks and Waratah Well lithium projects in Western Australia.

"Regaining full control of our key lithium assets in Western Australia is a crucial step forward. Our technical team has made significant progress at both Split Rocks and Waratah Well without drilling this past year, highlighting the untapped potential of these projects,” Zenith MD Michael Clifford said on January 11.

The Split Rocks lithium project, situated about 30 km north of the Mt Holland lithium deposit, has been identified as one of only six Joint Ore Reserves Committee-classified lithium deposits outside existing mining operations in Western Australia.

The project covers an area of about 367 km² within the Forrestania Greenstone Belt and has indicated considerable potential with a maiden inferred mineral resource reported to contain 11.9-million tonnes at 0.72% lithium oxide.

Further, the company has identified 83 additional lithium targets within the project area and secured permits for 318 drill holes, setting the stage for an extensive exploration campaign this year.

Meanwhile, located about 20 km northwest of Yalgoo in the Murchinson region, the Waratah Well lithium project holds a potentially large lithium/caesium/tantalum pegmatite target. Initial drilling has returned high-grade lithium intersections, and the mineralisation remains open in all directions, awaiting a comprehensive follow-up drill programme scheduled for the first half of the year.

Zenith explained that the strategic recovery of these assets aligns with the increasing market interest in advanced lithium projects, spurred by significant investments and the global energy transition's demand for critical metals.

The company believes that it is well-positioned to leverage these developments. A detailed review of the projects is currently underway, which may include seeking expressions of interest from potential strategic investors.

“As we move into an extensive exploration campaign for 2024, our focus remains on strategic growth and the continuous enhancement of shareholder value," Clifford said.