Zenith Minerals extends high-grade gold zone at Red Mountain project

Zenith Minerals ASX ZNC Red Mountain visible gold diamond drilling
Zenith Minerals will continue drilling in phases at Red Mountain “well into” the new financial year.

Diamond core drilling results from the most recent holes at Zenith Minerals’ (ASX: ZNC) wholly-owned Red Mountain gold project in Queensland have revealed visible gold and extended the high-grade mineralised zone to 180 vertical metres.

The newly-intersected zone is believed to be a discrete sub-vertical high-grade gold section located on the western part of the prospect area which remains open at depth and will be the subject of ongoing drill testing.

Visible gold

Five separate occurrences of visible gold have been confirmed to date over two holes, with individual assays peaking at 34.2 grams per tonne gold and 10.4g/t gold.

Best results from both holes have been 3m at 2g/t gold, including 3.7m at 2.8g/t and 1m at 8.6g/t; 3m at 3.5g/t gold, including 1m at 1.8g/t and 1m at 8.6g/t; and 1m at 10.4g/t gold, and 0.8m at 4.2g/t.

Also recorded was 0.3m at 1.9g/t gold and 0.5m at 34.2g/t where the hole intersected dolerite dyke in a predicted main gold mineralisation position.

New initial 1m resample results from previous reverse circulation holes have confirmed earlier 4m composite results such as 8m at 1.6g/t gold from surface, including 1m at 3.1g/t, 1m at 1.9g/t and 1m at 5.1g/t.

Strong silver grades associated with the gold mineralisation were also reported, with best results of 15m at 0.4g/t gold and 20.4g/t silver; and 4m at 0.5g/t gold with 82.0g/t silver.

Continued exploration

Executive chairman Peter Bird said the results will pave the way for continued exploration at the project which is located in a prospective and proven region.

“The confirmation of extensive visible gold and strong gold grades in what we believe to be the upper levels of a breccia pipe system will now lead us to push [our] drilling program to explore much deeper, below the 180 vertical metre level,” he said.

“We anticipate drilling will continue in a series of phases well into the new financial year [and] our key objective will be to define something of significant value.”

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