viewZenith Minerals Ltd

Zenith Minerals confirms wide Red Mountain gold zone with results of up to 12 metres at 2.2 g/t

The company has a vision to build a gold and base metals discovery business with a team of proven project finders and focuses mainly on Australian gold and copper projects.

Zenith Minerals Ltd - Zenith Minerals confirms wide Red Mountain gold zone with results of up to 12 metres at 2.2 g/t
Zenith plans to restart step-out RC drilling this week.

Zenith Minerals Ltd (ASX:ZNC) has intersected high-grade near-surface gold mineralisation in seven reverse circulation (RC) holes in an ongoing drilling campaign at Red Mountain Project in central Queensland.

The results outline a zone of high-grade gold mineralisation in a steep easterly dipping zone hosted by altered granitoid rocks.

High-grade gold assays from drilling peak at 58.3 g/t while silver results peak at 160 g/t.

Best result from the first seven follow-up RC holes was 12 metres at 2.2 g/t gold from surface including 8 metres at 3.1 g/t.

Other results are 5 metres at 1.7 g/t from 25 metres, including 3 metres at 2.6 g/t and 8 metres at 1.4 g/t from 35 metres, including 4 metres at 2.4 g/t.

Step-out drilling to proceed

Zenith CEO Mick Clifford said: “Assay results from new drill holes confirm the presence of a 20-30 metres wide steep easterly dipping zone of gold mineralisation.

“The zone has now been extended to the south.

“Step-out drilling to the north and south covering a strike extent of approximately 500 metres will now proceed with more confidence, and I look forward to providing further updates on this exciting program.”

Fulltime drilling

The company has recommenced drilling on a fulltime basis after receiving positive results from a maiden drill program.

This program returned up to 13 metres at 8.0 g/t gold and 3.2 g/t silver from surface, including 6 metres at 16.7 g/t gold and 5.3 g/t silver.

Pending ongoing positive follow-up assay results, the RC rig will work a continuous roster at Red Mountain over the coming months.

A key objective of the recent RC drilling was to establish the orientation of gold mineralisation, which has been achieved.

Future plans

Of the seven new RC holes, three were drilled east of the main gold zone while remaining holes were drilled sub-parallel and west of the gold zone. 

Future drill holes will be drilled east to west on 50-metre spaced sections stepping out north and south to provide around 500 metres of strike coverage.

This work will target a much larger total target zone extending some 2.2 kilometres around the rim of the breccia pipe.

Quick facts: Zenith Minerals Ltd

Price: 0.125 AUD

Market: ASX
Market Cap: $36.8 m

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