Latest assays from drilling at Zenith Minerals’ (ASX: ZNC) Split Rocks gold project near Southern Cross in Western Australia have yielded encouraging high-grade intersections at the Dulcie Far North prospect.
The company has now received assays from the first 36 aircore holes at Dulcie Far North out of a wider 100-hole program across the project totalling 4,732m.
A notable result was 3m at 70 grams per tonne gold, with the hole ending in mineralisation.
Other assays included 8m at 2.5g/t, 8m at 1.9g/t and 12m at 1.0g/t, (the last including 4m at 1.9g/t).
Initial composite results from the Dulcie Far North prospect, combined with those from previous scout drilling, and along with historical drill hole results, have outlined an additional gold mineralised corridor extending over 1km in length and 300m wide.
More drilling planned at four prospects
Zenith chairman Peter Bird described the assays as “great”, the new corridor area being in addition to the existing 2km-long gold zone at the old Dulcie laterite pit.
“We note that these new results from 36 holes are only a portion of the larger 100-hole drill program,” he added.
“They are particularly significant given the relatively coarse spacing of drill lines at Dulcie Far North.”
The company says additional infill and extensional reverse circulation drilling at Dulcie Far North is now required.
This will be followed by reverse circulation drilling a three adjoining prospects, the Dulcie laterite pit itself, Dulcie North and Water Bore.
Last year Zenith’s drilling at its Split Rocks project produced encouraging results within the Dulcie laterite pit.
Project in under-explored greenstone belt
Zenith’s geological team had previously identified 18 targets over a 18km strike length in the northeast section at Split Rocks.
Split Rocks lies to the south of the Marvel Loch, 3 million ounce mine and the Yilgarn Star deposit (2Moz) and north of the 2Moz Bounty deposit.
Split Rocks covers 650 square kilometres in the under-explored Forrestania greenstone belt.
Historic drilling more than 20 years ago at Split Rocks was mainly in search of nickel and carried out at a time when the gold prices were significantly lower than today — for example, the average price in 1999 was US$278.88/oz.
Divesting Queensland copper-gold project
In other news this week, Zenith reported that it will divest its Flanagans copper-gold project in Queensland.
Unlisted Bindi Metals will pay $450,000 for the tenement which is located 70km northeast of Zenith’s Red Mountain gold project.
The sale is conditional on Bindi completing an IPO and listing on the ASX by the end of the year, with the sale price bring broken into $200,000 cash and the balance in Bindi shares.
The company has stated previously that exploration at Flanagans had uncovered up to 5.3g/t gold, 100g/t silver and 8% copper.